Endured year-over-year gross sales expansion pushed by means of aerospace & protection

Document aerospace & protection gross sales of $793 million, representing 70% of Q 3 2025 gross sales

Sturdy margin efficiency in HPMC and AA&S branchs

Elevating complete yr levels for adjusted income and money stream steering  

3rd Quarter 2025 GAAP Monetary Effects

• Gross sales of $1.13 billion, up 7% year-over-year, pushed by means of a 21% aerospace & protection build up
• Web source of revenue as a consequence of ATI of $110 million, up 33% year-over-year
• Profits in keeping with percentage of $0.78 in comparison to $0.57 in keeping with percentage within the 3rd quarter 2024

3rd Quarter 2025 Non-GAAP Monetary Knowledge*

• Adjusted internet source of revenue as a consequence of ATI* of $119 million, up 39% year-over-year
• Adjusted income in keeping with percentage* of $0.85, in comparison to $0.60 in keeping with percentage within the 3rd quarter 2024
• Adjusted EBITDA* of $225 million, an build up of 21% year-over-year
• Adjusted EBITDA* as a share of gross sales of 20.0%, in comparison to 17.7% within the 3rd quarter 2024

Steerage

The Corporate is offering fourth quarter and up to date complete yr 2025 steering within the desk underneath.

DALLAS, Oct. 28, 2025 /PRNewswire/ — ATI Inc. (NYSE: ATI) reported 3rd quarter 2025 effects, with gross sales of $1.13 billion and internet source of revenue as a consequence of ATI of $110.0 million, or $0.78 in keeping with percentage.   

GAAP income in keeping with percentage for the 3rd quarter 2025 had been $0.78 and changed income in keeping with percentage* had been $0.85. Web source of revenue as a consequence of ATI was once $110.0 million and ATI adjusted EBITDA* was once $225.1 million, or 20.0% of gross sales. 3rd quarter 2025 adjusted effects exclude pre-tax fees of $12.9 million for particular pieces and a $1.1 million acquire at the sale of a non-core trade in the past reported within the HPMC section. The after-tax affect of those particular pieces was once a fee of $9.4 million, or $0.07 in keeping with percentage. 

2nd quarter 2025 adjusted effects exclude pre-tax fees of $7.4 million for particular pieces. The after-tax affect of those particular pieces was once a fee of $5.7 million, or $0.04 in keeping with percentage.  3rd quarter 2024 adjusted effects exclude pre-tax fees of $4.3 million for particular pieces. The after-tax affect of those particular pieces was once a fee of $3.2 million, or $0.03 in keeping with percentage.  The Non-GAAP tables integrated inside this reduce handover the reconciliations of the GAAP to Non-GAAP monetary measures and alternative main points at the particular pieces famous above.

“We exceeded our guidance in the third quarter, delivering strong adjusted earnings and operating cash flow performance. We continue to see positive demand signals in our core markets, as our customers ramp to achieve their growth targets. We are well-positioned to grow our defense-related business through an expanding mix of highly differentiated products critical to the U.S. and our allies,” mentioned Kimberly A. Subjects, President and CEO. “Our remarkable efficiency, contractual positions and stable call for give us the arrogance to boost the full-year levels of our adjusted income and money stream steering.

“We continue to drive efficiencies in working capital with the goal of maximizing free cash flow,” mentioned Subjects. “Our year-to-date operating cash flow of $299 million reflects an improvement of $273 million compared to last year. This performance enabled us to support our growth while continuing to return capital to shareholders. During the third quarter, we repurchased $150 million of our stock, bringing our total 2025 share repurchases to $470 million.” mentioned Subjects.

Running Effects by means of Department

• HPMC’s 3rd quarter 2025 gross sales diminished $5.9 million, or 1%, in comparison to 2d quarter 2025, essentially because of a forging word of honour renewal that modified from a fabrics acquire construction to a conversion products and services construction, lowering 3rd quarter earnings by means of $10 million. Aerospace & protection gross sales represented 92% of general HPMC gross sales in each the 3rd and 2d quarters of 2025.
• 3rd quarter 2025 gross sales progressed 9% in comparison to 3rd quarter 2024, together with a damaging affect of $9 million because of the primary quarter 2025 disposition of sure non-core operations in Europe and $10 million because of the forging word of honour renewal famous above. Aerospace & protection gross sales greater 17% on a year-over-year foundation because of robust call for for business jet engine and protection merchandise, which was once partly offset by means of decrease gross sales to the scientific and uniqueness power markets.
• HPMC 3rd quarter 2025 section EBITDA* was once $145.8 million, or 24.2% of gross sales. The sequential build up in margins was once essentially because of favorable gross sales combine and pricing of uniqueness alloys. Additionally, 2d quarter 2025 margin benefited from the popularity of $4.4 million of in the past deferred worker retention credit.
• HPMC 3rd quarter 2024 section EBITDA* was once $123.2 million, or 22.3% of gross sales, which integrated a good thing about $2.9 million for the popularity of in the past deferred worker retention credit.

• AA&S 3rd quarter 2025 gross sales diminished $9 million, or 2%, in comparison to the second one quarter 2025, essentially because of decrease gross sales of commercial and uniqueness power merchandise. Those decreases had been partly offset by means of upper gross sales within the aerospace & protection sale markets because of greater call for for each business aerospace and protection merchandise. Aerospace & protection gross sales had been 46% of general AA&S gross sales within the 3rd quarter of 2025.
• 3rd quarter 2025 gross sales greater $23.8 million, or 5%, in comparison to the prior yr quarter, essentially because of a 34% build up in aerospace & protection gross sales. This build up was once partly offset by means of decrease gross sales of commercial and uniqueness power merchandise.
• AA&S 3rd quarter 2025 section EBITDA* was once $90.4 million, or 17.3% of gross sales. The sequential build up in margins was once essentially because of progressed gross sales combine and pricing of unique alloys. 2nd quarter 2025 margin benefited from the popularity of $2.6 million of in the past deferred worker retention credit.
• AA&S 3rd quarter 2024 section EBITDA* was once $73.6 million, or 14.8% of gross sales, which integrated a good thing about $1.9 million for the popularity of in the past deferred worker retention credit.

Company Pieces and Money

• Restructuring and alternative fees:
  • 3rd quarter 2025: $12.9 million contains pre-tax fees consisting of $7.2 million of start-up and transaction-related prices, $3.6 million of transformation-related prices, and $2.5 million of losses at the sale of shopper accounts receivable, partly offset by means of credit of $0.4 million because of a discount in severance-related reserves for our earlier Ecu restructuring.
  • 2nd quarter 2025: $7.4 million contains pre-tax fees consisting of $7.1 million of start-up and transaction-related prices and $1.6 million of losses at the sale of shopper accounts receivable, partly offset by means of credit of $1.3 million because of a discount in severance-related reserves for a prior restructuring in our AA&S section.
  • 3rd quarter 2024: $4.3 million contains pre-tax fees essentially for start-up and transaction-related prices.
• 3rd quarter 2025 features a $1.1 million acquire from the sale of a non-core trade in the past reported within the HPMC section.
• Company bills within the 3rd quarter 2025 had been $15.6 million, in comparison to $15.4 million in the second one quarter 2025, and $13.4 million within the prior yr quarter. The rise in comparison to 3rd quarter 2024 was once essentially because of upper incentive reimbursement prices.
• Closed operations and alternative source of revenue/expense was once source of revenue of $4.5 million within the 3rd quarter 2025 in comparison to source of revenue of $2.4 million in the second one quarter 2025, and source of revenue of $2.3 million within the prior yr quarter. 3rd quarter 2025 integrated a $10.5 million acquire from the sale of oil & gasoline rights. 2nd quarter 2025 benefited from foreign currency positive aspects of $1.8 million and a good chapter agreement linked to an insurance coverage declare of $1.1 million. 3rd quarter 2024 integrated a $3.7 million acquire from the sale of oil & gasoline rights.
• 3rd quarter 2025 effects integrated a $31.0 million source of revenue tax provision, or an efficient charge of 21.4%, which was once reasonably less than the second one quarter 2025 efficient tax charge of twenty-two.0%. 3rd quarter 2024 effects come with a $28.3 million source of revenue tax provision, or an efficient tax charge of 24.6%.
• Money supplied by means of working actions was once $230 million and $299 million for the 3rd quarter and year-to-date 2025 sessions, respectively. Capital expenditures for the 3rd quarter 2025 had been $63 million.
• Controlled running capital as a % of annualized gross sales was once 36.4% on the finish of 3rd quarter 2025, which diminished reasonably from 36.5% on the finish of 2d quarter 2025.
• Within the 3rd quarter 2025, the Corporate repurchased $150 million of its ordinary store at a median value in keeping with percentage of $76.07, retiring roughly 2.0 million stocks. As of the top of the 3rd quarter 2025, general percentage repurchase authorization too much was once $120 million.

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ATI will habits a convention name with traders and analysts on Tuesday, October 28, 2025, at 8:30 a.m. ET to talk about the monetary effects. The convention name might be broadcast, and accompanying presentation slides might be to be had, at ATImaterials.com. To get entry to the printed, click on on “Conference Call.” Replay of the convention name might be to be had at the ATI website online.

This information reduce incorporates “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Operate of 1995. Sure statements on this information reduce relate to year occasions and expectancies and, as such, represent forward-looking statements. Ahead-looking statements, which would possibly include such phrases as “anticipates,” “believes,” “estimates,” “expects,” “would,” “should,” “will,” “will likely result,” “forecast,” “outlook,” “projects,” and alike expressions, are in response to control’s tide expectancies and come with recognized and unknown dangers, uncertainties and alternative components, lots of which we’re not able to expect or regulate. Our efficiency or achievements would possibly range materially from the ones expressed or implied in any forward-looking statements because of please see components, amongst others: (a) subject material antagonistic adjustments in financial or business situations typically, together with world provide and insist situations and costs for our uniqueness fabrics; (b) subject material antagonistic adjustments within the markets we handover; (c) our lack of ability to succeed in the extent of value financial savings, productiveness enhancements, synergies, expansion or alternative advantages expected by means of control from strategic investments and the mixing of received companies; (d) volatility in the cost and availability of the uncooked fabrics which can be important to the build of our merchandise; (e) declines within the worth of our outlined receive advantages 401-k property or destructive adjustments in rules or laws that lead 401-k investment; (f) exertions disputes or paintings stoppages; (g) apparatus outages; (h) trade and financial disruptions related to ordinary occasions past our regulate, comparable to battle, terrorism, world conflicts, nation fitness problems, comparable to epidemics or pandemics, herbal screw ups and climate-related occasions that can be on one?s feet going forward and (i) alternative possibility components summarized in our Annual File on Method 10-Okay for the yr ended December 29, 2024, and in alternative reviews filed with the Securities and Trade Fee. We think refuse responsibility to replace our forward-looking statements.

ATI: Confirmed to Carry out.

ATI (NYSE: ATI) is an international manufacturer of top efficiency fabrics and answers for the worldwide aerospace & protection markets, and important programs in electronics, scientific and uniqueness power. We’re fixing the arena’s maximum tough demanding situations via fabrics science. We spouse with our shoppers in order ordinary fabrics that allow their largest achievements: their merchandise fly upper and sooner, burn warmer, dive deeper, be on one?s feet more potent and latter longer. Our proprietary procedure applied sciences, distinctive buyer partnerships and loyalty to innovation ship fabrics and answers for lately and the evermore difficult environments of the next day to come.  We’re confirmed to accomplish anyplace.  Be told extra at ATImaterials.com.

ATI Inc.
Non-GAAP Monetary Measures
(Unaudited, greenbacks in thousands and thousands, except for in keeping with percentage quantities)

The Corporate reviews its monetary ends up in accordance with accounting ideas typically authorised in the USA of The us (“GAAP”). This record contains monetary efficiency measures that don’t seem to be outlined by means of GAAP, together with Adjusted internet source of revenue as a consequence of ATI, Adjusted EPS, Adjusted EBITDA, Department EBITDA, Adjusted separate money stream and Controlled running capital. The Corporate makes use of those non-GAAP monetary measures to help in assessing working efficiency on a constant foundation throughout more than one reporting sessions by means of doing away with the affect of particular pieces, which will range from era to era, that control does now not consider are without delay reflective of the Corporate’s core operations. The Corporate defines particular pieces as important non-recurring or non-operational fees or credit, restructuring and alternative fees/credit, positive aspects or losses from the sale of accounts receivable, collision linked prices, favor and long-lived asset impairments, debt extinguishment fees, pension remeasurement positive aspects and losses, alternative postretirement/pension curtailment and agreement positive aspects and losses, and positive aspects or losses on gross sales of companies.

Adjusted internet source of revenue as a consequence of ATI and linked Adjusted EPS are calculated by means of adjusting internet source of revenue as a consequence of ATI for the tax-effected affect of particular pieces. We outline Adjusted EBITDA as internet source of revenue, with the exception of internet passion expense, source of revenue taxes, depreciation and amortization, and particular pieces. Our measure of section EBITDA, which we worth to investigate the efficiency and result of our trade branchs, excludes internet passion expense, source of revenue taxes, depreciation and amortization, particular fees, company bills, closed operations and alternative source of revenue (expense). Our modes of calculating Adjusted separate money stream and Controlled running capital are mentioned in higher constituent underneath underneath the headings “Adjusted Free Cash Flow” and “Managed Working Capital,” respectively.

Control believes presenting those non-GAAP monetary measures comes in handy to traders as it (1) supplies traders with significant supplemental knowledge relating to monetary and working efficiency by means of with the exception of sure pieces control believes do indirectly affect the Corporate’s core operations, (2) lets in traders to view efficiency the use of the similar metrics that control makes use of to forecast, evaluation efficiency, and form working and strategic choices, and (3) supplies alternative knowledge helpful to traders on a period-to-period constant foundation which can be repeatedly impaired to investigate corporations’ working efficiency. Control believes that attention of those non-GAAP monetary measures, along with our GAAP monetary measures and the corresponding reconciliations, supplies traders with alternative figuring out of the Corporate’s efficiency and traits that will be absent such disclosures.

Non-GAAP monetary measures must be seen along with, and now not superb to or as an additional for, the Corporate’s reported effects ready in keeping with GAAP.  Refer to tables handover the calculation of the non-GAAP monetary measures mentioned on this press reduce:

Web Source of revenue As a result of ATI 

Adjusted Separate Money Current

Control makes use of a non-GAAP measure, Adjusted separate money stream, to evaluate the money stream occasion of the Corporate’s operations. Adjusted separate money stream is outlined as the whole money supplied by means of (impaired in) working actions and making an investment actions as offered at the consolidated statements of money flows, adjusted to exclude money contributions to the Corporate’s U.S. certified outlined receive advantages 401-k. 

Control makes use of this measure to evaluate the money stream occasion efficiency of its trade because it excludes money contributions to the Corporate’s U.S. certified receive advantages 401-k which can be periodic instead than routine. The affect of money generated from the sale of property and non-core companies is integrated within the measure because the proceeds of such transactions are pondered by means of Control in surroundings capital budgets to charity capital expenditures. Control believes this measure supplies traders with alternative significant insights as to the Corporate’s skill to generate money in abundance of operational and making an investment wishes. Adjusted separate money stream isn’t supposed to be a measure of separate money stream for control’s discretionary worth, because it does now not believe sure money necessities comparable to passion, tax, or alternative contractually required bills. Additional, adjusted separate money stream must be seen along with, and now not superb to or as an additional for, the Corporate’s reported effects ready in keeping with GAAP.

Controlled Operating Capital

As a part of managing the efficiency of our trade, we center of attention on Controlled running capital, a non-GAAP monetary measure that we outline as rude accounts receivable, temporary word of honour property and rude inventories, with the exception of the results of reserves for uncollectible accounts receivable and stock valuation reserves, much less accounts payable and temporary word of honour liabilities.  We assess Controlled running capital efficiency as a share of the prior 3 months annualized gross sales. Controlled running capital isn’t supposed to switch running capital or alternative GAAP monetary measures or to be impaired as a measure of liquidity.

Control believes this non-GAAP monetary measure makes a speciality of the property and liabilities maximum intently as a consequence of our core operations, permitting Control to quantify and evaluation the asset depth of our trade. Additional, Control believes this non-GAAP monetary measure supplies traders with alternative insights into the Corporate’s effectiveness in balancing the want to preserve suitable asset ranges to backup gross sales expansion and operations life deploying our money successfully. The December 29, 2024 quantities come with control running capital balances that had been categorised as held on the market.  

SOURCE ATI