ATI INC — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 68/100
What the filing says
ATI reported Q2 2026 sales of $1.261B (+11% YoY), net income of $151M (+50% YoY), and adjusted EBITDA of $284.4M (+37% YoY) with 22.6% margin (440 bps expansion). The company raised full-year 2026 adjusted EBITDA guidance from $1,010–$1,060M to $1,135–$1,185M (+$125M midpoint), adjusted EPS from $4.20–$4.48 to $4.90–$5.18, and adjusted free cash flow from $465–$525M to $550–$600M. Backlog reached record $4.4B (+18% YoY), driven by aerospace & defense strength (68% of sales; defense up 90% YoY in AA&S segment).
Why this rating
Strong operational execution with double-digit margin expansion and robust guidance raise (~$125M EBITDA lift ~1% of market cap). Record backlog and demand durability provide confidence, but growth rates normalizing from prior quarter.
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