ATI INC

Listed Company

ATICIK 0001018963NYSELarge AcceleratedSteel Pipe & TubesDelawareFY ends Dec 28

Period

FY 2025

Revenue

$4.59B

Net Income

$404.30M

Total Assets

$5.10B

Equity

$1.80B

Shares Out

136.47M

Op. Cash Flow

$614.30M

Business

ATI INC produces specialty materials and engineered components using materials science expertise and advanced processing technologies to serve aerospace & defense, energy, medical and electronics markets. It offers high-performance alloys and superalloys, titanium and titanium-based alloys, precision forgings, machined components, advanced metallic powders for additive manufacturing, plate, sheet and Precision Rolled Strip products, and post-production inspection and machining services. The company operates through two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). It sells globally via direct contracts, long-term agreements, joint ventures, independent service centers and its distribution network, with manufacturing and marketing operations in the U.S., Europe and Asia.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	4,587	4,362	4,174	3,836	2,800
Cost of sales	3,580	3,464	3,371	3,122	2,467
Gross profit	1,007	898	803	714	333
Selling and administrative expenses	365	342	328	298	227
Restructuring (credits) charges	−2	4	8	−5	−11
Loss (gain) on asset sales and sales of businesses, net	3	−57	400,000	105	0
Operating income	641	609	466	316	118
Nonoperating retirement benefit expense	−35	−29	−80	—	—
Interest expense, net	−99	−108	−93	—	—
Other income, net	15	14	1	−13	18
Income before income taxes	522	486	295	—	—
Income tax provision (benefit)	104	103	−128	16	27
Net income	419	383	423	339	207
Less: Net income attributable to noncontrolling interests	14	15	13	16	22
Net income attributable to ATI	404	368	411	324	185
Basic net income attributable to ATI per common share (in dollars per share)	2.92	2.82	3.21	2.54	1.45
Diluted net income attributable to ATI per common share (in dollars per share)	2.85	2.55	2.81	2.23	1.32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	417	721	744	584	688
Accounts receivable, net	686	709	625	579	470
Short-term contract assets	73	76	59	64	54
Inventories, net	1,403	1,353	1,248	1,196	1,046
Prepaid expenses and other current assets	101	86	62	53	49
Total Current Assets	2,680	2,945	2,738	2,476	2,307
Property, plant and equipment, net	1,941	1,777	1,666	1,549	1,529
Goodwill	225	227	227	227	228
Other assets	254	282	354	193	222
Total Assets	5,100	5,231	4,985	4,446	4,285
Accounts payable	568	609	525	553	376
Short-term contract liabilities	146	169	164	149	116
Short-term debt and current portion of long-term debt	31	180	32	42	131
Other current liabilities	261	250	257	220	233
Total Current Liabilities	1,006	1,209	977	964	856
Long-term debt	1,718	1,715	2,148	1,706	1,712
Accrued postretirement benefits	159	164	175	185	258
Pension liabilities	41	37	40	226	415
Other long-term liabilities	258	151	165	208	211
Total Liabilities	3,183	3,275	3,505	3,288	3,453
Preferred stock, par value $0.10: authorized-50,000,000 shares; issued-none	0	0	0	0	0
Common stock, par value $0.10: authorized-500,000,000 shares; issued- 142,871,688 shares at December 28, 2025 and 142,871,688 shares at December 29, 2024; outstanding-135,934,852 shares at December 28, 2025 and 141,387,049 shares at December 29, 2024	14	14	13	13	13
Additional paid-in capital	1,885	1,944	1,697	1,668	1,597
Retained earnings	469	64	−70	−481	−778
Treasury stock: 6,936,836 shares at December 28, 2025 and 1,484,639 shares at December 29, 2024	−503	−83	−184	−87	−5
Accumulated other comprehensive loss, net of tax	−60	−90	−83	−67	−141
Total ATI Stockholders Equity	1,805	1,850	1,373	1,046	686
Noncontrolling Interests	112	105	108	111	147
Total Stockholders Equity	1,917	1,955	1,481	1,157	833
Total Liabilities and Stockholders Equity	5,100	5,231	4,985	4,446	4,285

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	168	152	146	143	144
Share-based compensation	29	34	29	26	21
Deferred taxes	59	86	−138	−100,000	1
Gain from disposal of property, plant and equipment, net	−11	−16	−600,000	−900,000	−3
Net loss (gain) from sales of businesses	3	−53	600,000	112	−14
Non-cash impairment charges	0	0	3	0	0
Pension plan contributions	0	0	−272	−51	−72
Retirement benefits	11	4	54	−159	−262
Accounts receivable	27	−85	−46	−129	−126
Inventories	−53	−119	−52	−191	−54
Accounts payable	−43	88	−30	156	89
Accrued income taxes	−26	−300,000	−5	3	−3
Accrued liabilities and other	32	−67	−27	−23	22
Cash provided by operating activities	614	407	86	225	16
Purchases of property, plant and equipment	−281	−239	−201	−131	−153
Proceeds from disposal of property, plant and equipment	11	28	4	3	21
Proceeds from sales of businesses, net of transaction costs	27	48	−300,000	—	—
Other	8	4	4	800,000	1
Cash used in investing activities	−235	−160	−193	−127	−77
Borrowings on long-term debt	0	0	425	0	676
Payments on long-term debt and finance leases	−183	−30	−25	−23	−516
Net payments under credit facilities	0	−5	−14	−6	22
Debt issuance costs	0	0	−6	0	−10
Receipt of convertible note capped call	0	76	0	0	—
Purchase of treasury stock	−470	−260	−85	−140	0
Dividends paid to noncontrolling interests	−13	−16	−16	−34	0
Shares repurchased for income tax withholding on share-based compensation	−34	−26	−11	−6	−5
Cash provided by (used in) financing activities	−700	−260	267	−202	103
Effect of exchange rate changes on cash and cash equivalents	16	−8	0	0	—
Less: Cash held for sale	0	−2	0	0	—
Increase (decrease) in cash and cash equivalents	−305	−23	160	−104	42

Filings

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