10-K · February 20, 2026
ATI reports multi-year revenue growth to $4.6 billion in fiscal 2025 (from $4.4B in 2024 and $4.2B in 2023) with HPMC now 53% of sales and AA&S 47%. Backlog remains sizable at $3.7 billion (down from $3.9B), the company…
Earnings analysis · 10-Q
ATI earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
ATI reported a modest revenue increase of 1% year-over-year to $1.15 billion in Q1 2026, driven by robust demand in the aerospace & defense segment. Earnings per share saw a notable leap, rising 22% to $0.81 from the…
Read full summary
ATI reported a modest revenue increase of 1% year-over-year to $1.15 billion in Q1 2026, driven by robust demand in the aerospace & defense segment. Earnings per share saw a notable leap, rising 22% to $0.81 from the previous year, aided by improved gross margins despite rising operational costs.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.81
- Gross margin
- 22.8%
- Segment
- Aerospace & Defense
- Segment
- Conventional Energy
- Segment
- Specialty Energy
- Segment
- Medical
- Segment
- Electronics
- Segment
- Automotive
What stood out
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Stable Revenue Growth
Q1 2026 revenue reached $1.15 billion, a 1% increase from $1.14 billion in Q1 2025.
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Significant EPS Growth
Diluted EPS improved to $0.81, marking a 22% increase year-over-year from $0.67.
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Improved Gross Margin
Gross margin increased to 22.8%, up from 20.6% in Q1 2025.
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Robust Demand in Aerospace
Aerospace & defense sales rose 6% to $797.6 million, representing 69% of total sales.
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Increased International Sales
International sales comprised 40% of total sales, a slight decrease from 44% last year.
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Expanded Cash Flow
Operating cash flow for Q1 2026 amounted to $90 million, a recovery from a negative cash flow in the previous quarter.
What to watch
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Rising Operational Costs
Selling and administrative expenses increased by 8.4% to $92.1 million compared to $85.0 million last year.
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Dependence on Aerospace Sector
69% of sales are derived from aerospace and defense sectors, exposing the company to volatility in these markets.
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Geopolitical Risks
Ongoing conflicts in the Middle East could disrupt global supply chains and impact ATI's input costs.
Management's outlook
Full-year 2026 adjusted EPS guidance raised to $4.20 - $4.48 from $3.99 - $4.27.
Earlier filings 4
10-Q · October 29, 2024
ATI reported quarter sales of $1,051.2 million (up $25.6M vs. $1,025.6M a year ago) with gross profit of $224.8 million and operating income of $142.2 million. Diluted EPS declined to $0.57 (from $0.62) while cash and…
10-K · February 23, 2024
ATI reported fiscal 2023 revenue of $4.17 billion (up from $3.84 billion in 2022 and $2.80 billion in 2021) with backlog growth to approximately $3.8 billion at December 31, 2023 (from $2.9 billion). The company is…
10-Q · November 3, 2022
ATI reported Q3 sales of $1,032.0 million, up $306.3 million (+42.2%) vs Q3 2021, with gross profit rising to $183.8 million and operating income to $113.2 million. Diluted earnings per share improved to $0.42 from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.