What Happened
Aerospace Materials Demand Drives Strong Quarterly Performance
ATI Inc. reported strong second-quarter earnings, driven by demand for its aerospace and defense materials. The company’s adjusted earnings of $1.23 per share beat estimates, and sales rose 10.6% year over year to $1.26 billion. ATI’s backlog reached a record $4.4 billion, highlighting sustained demand for its products. The company raised its full-year adjusted EBITDA guidance, citing contracted pricing improvements and a richer product mix. This article originally published on Zacks Investment Research.