Jun 2026 (Q2 FY26) — Aug 6, 2026
ATI Q2 FY26 — Record Backlog and Strong Earnings Power
Read the full callATI (ATI) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
ATI earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,261 | +10.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 17.4 | +3.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 151 | +50.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
26 of 31 judged targets kept · 36 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA | $245 million to $255 million | Mar 2026 | Second quarter adjusted EBITDA was $284 million, $29 million above the high end of our prior guidance. | Achieved |
| AA&S segment margin | in the upper teens | Dec 2025 | AA&S full year EBITDA margin will be in the low 20% range, an improvement over the upper teens level we communicated last quarter. | Revised Up |
| Adjusted EBITDA | $305 million to $315 million | Jun 2026 | in the third quarter of 2026, we anticipate adjusted EBITDA of $305 million to $315 million | New |
5 of ATI INC's 67 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 64 more targets are in the full ledger.
Claimed
- Adjusted EBITDA of $284 million, 11% above the high end of prior guidance, marking ATI's strongest quarterly EBITDA since 2007.
- Adjusted EBITDA margin expanded 440 basis points year-over-year to 22.6%.
- Revenue increased 11% year-over-year to $1.3 billion.
- Record backlog of $4.4 billion, up 18% year-over-year and 7% sequentially.
- Adjusted free cash flow of $69 million in the quarter, bringing first half to $143 million, a $193 million improvement year-over-year.
Qualified
- Qualification timing at the new Mexico facility and EV2 titanium furnace shifted some HPMC shipments into future periods, impacting Q2 revenue by $30M-$40M.
Price
$185.59 −1.97% · −$3.72
Performance +122.7% 1Y
1Y: $83.32 on 15 Oct 2025 → $185.59. High $231.78 (17 Aug 2026), low $80.33 (17 Oct 2025).
- Previous close
- $189.31
- 52-week range
- $80.33 – $231.78
- One year
- +128.50%
Overview
- Symbol
- ATI
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
26 of 31 judged targets kept · 36 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA | $245 million to $255 million | Mar 2026 | Second quarter adjusted EBITDA was $284 million, $29 million above the high end of our prior guidance. | Achieved |
| AA&S segment margin | in the upper teens | Dec 2025 | AA&S full year EBITDA margin will be in the low 20% range, an improvement over the upper teens level we communicated last quarter. | Revised Up |
| Adjusted EBITDA | $305 million to $315 million | Jun 2026 | in the third quarter of 2026, we anticipate adjusted EBITDA of $305 million to $315 million | New |
Claimed
- Adjusted EBITDA of $284 million, 11% above the high end of prior guidance, marking ATI's strongest quarterly EBITDA since 2007.
- Adjusted EBITDA margin expanded 440 basis points year-over-year to 22.6%.
- Revenue increased 11% year-over-year to $1.3 billion.
- Record backlog of $4.4 billion, up 18% year-over-year and 7% sequentially.
- Adjusted free cash flow of $69 million in the quarter, bringing first half to $143 million, a $193 million improvement year-over-year.
Qualified
- Qualification timing at the new Mexico facility and EV2 titanium furnace shifted some HPMC shipments into future periods, impacting Q2 revenue by $30M-$40M.
The full ledger
Open ATI INC’s full ledger
A free account opens 5 company ledgers a month. All 67 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
ATI Q1 FY26 — Strong Performance Driven by High-Quality Revenue and Expanded Margins
Read the full callEvery analysed call
ATI earnings calls (ATI)
Financials
What the filings say
Net profit, year on year: +50% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,051 | 1,173 | 1,144 | 1,140 | 1,126 | 1,177 | 1,152 | 1,261 |
| Operating profit | 142 | 209 | 147 | 161 | 162 | 171 | 164 | 220 |
| Operating margin | 13.5% | 17.8% | 12.8% | 14.1% | 14.4% | 14.5% | 14.2% | 17.4% |
| Profit before tax | 115 | 175 | 122 | 133 | 145 | 123 | 137 | 193 |
| Tax rate | 24.6% | 18.8% | 17.3% | 22.0% | 21.4% | 18.2% | 11.8% | 20.0% |
| Net profit | 83 | 137 | 97 | 101 | 110 | 97 | 118 | 151 |
| EPS ($ per share) | 0.64 | — | 0.68 | 0.72 | 0.80 | — | 0.86 | 1.11 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 13 | 13 | 13 | — | 13 | 13 | 14 | 14 |
| Reserves | 1,427 | 1,679 | 107 | -778 | -481 | -70 | 64 | 469 |
| Total liabilities | 3,510 | 3,441 | 3,394 | 3,453 | 3,288 | 3,505 | 3,275 | 3,183 |
| Fixed assets | 2,475 | 2,450 | 1,469 | — | 1,549 | 1,666 | 1,777 | 1,941 |
| Total assets | 5,502 | 5,635 | 4,035 | 4,285 | 4,446 | 4,985 | 5,231 | 5,100 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 393 | 230 | 167 | 16 | 225 | 86 | 407 | 614 |
| Cash from investing | -145 | 82 | -129 | -77 | -127 | -193 | -160 | -234 |
| Cash from financing | -7 | -203 | 117 | 103 | -202 | 267 | -260 | -700 |
| Net cash flow | 240 | 109 | 155 | 42 | -104 | 160 | -23 | -304 |
| Capital expenditure | -139 | -168 | -136 | -153 | -131 | -201 | -239 | -281 |
| Free cash flow | 254 | 62 | 30 | -136 | 94 | -115 | 168 | 334 |
ATI revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Advanced Alloys Solutions | 56% | 52% | 54% | 51% | 51% | 49% | 55% | 59% | +28.4% |
| High Performance Materials Components | 58% | 59% | 56% | 58% | 59% | 59% | 57% | 54% | +2.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ATI operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Backlog | $4.1BOrder activity continues to be strong with our order backlog growing by 10% sequentially to an all-time high of $4.1 billion.Source: earnings call transcript | $4.4BThat expanding revenue was supported by another record backlog of $4.4 billion, up 18% from a year ago and 7% sequentially.Source: earnings call transcript | +7.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2027 · share of revenue
- US 63% ↑ 4 pt
- Asia 9% ↓ 3 pt
- South America Middle East and Other 6% ↑ 4 pt
- CA 3%
As ATI cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
98 filings between Nov 4, 2025 and Sep 21, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$82.64M
55 sales by 5 insiders
93% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 20
- Award — granted as compensation
- 5
- Option exercise — converted options into shares
- 16
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Fields Kimberly A | — | $40.34M | Aug 17, 2026 |
| WETHERBEE ROBERT S | — | $21.21M | Feb 17, 2026 |
| Harris Timothy J | — | $19.32M | Sep 21, 2026 |
| Morehouse David J | — | $1.52M | Sep 2, 2026 |
| Busch Tina Killough | — | $242.3K | Nov 21, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 21, 2026 | Harris Timothy J Senior VP and CDIO | Sale 10b5-1 plan | 9,000 | $1.73M |
| Sep 14, 2026 | Harris Timothy J Senior VP and CDIO | Sale 10b5-1 plan | 16,500 | $3.19M |
| Sep 8, 2026 | Harris Timothy J Senior VP and CDIO | Sale 10b5-1 plan | 16,500 | $3.42M |
| Sep 2, 2026 | Morehouse David J Director | Sale | 2,485 | $501.0K |
| Aug 31, 2026 | Harris Timothy J Senior VP and CDIO | Sale 10b5-1 plan | 16,500 | $3.47M |
| Aug 24, 2026 | Harris Timothy J Senior VP and CDIO | Sale 10b5-1 plan | 16,500 | $3.41M |
| Aug 17, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 2,000 | $459.1K |
| Aug 17, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 1,000 | $228.3K |
| Aug 17, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 4,598 | $1.07M |
| Aug 17, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 9,116 | $2.11M |
| Aug 17, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 8,131 | $1.88M |
| Jul 28, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 31,757 | $6.07M |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 15,908 | $2.92M |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 11,826 | $2.16M |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 2,200 | $399.0K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 200 | $36.2K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 2,000 | $360.0K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 2,000 | $358.5K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 4,878 | $899.2K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 400 | $75.0K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 388 | $71.8K |
| Jul 7, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 200 | $37.3K |
| Jul 1, 2026 | Foster James Robert SVP, Finance and CFO | Option exercise | 163 | $31.6K |
| Jun 24, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 3,783 | $746.0K |
| Jun 23, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 3,641 | $719.0K |
| Jun 22, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 13,269 | $2.69M |
| Jun 2, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 25,823 | $4.60M |
| Jun 2, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 13,164 | $2.37M |
| Jun 2, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 3,001 | $548.4K |
| Jun 2, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 2,000 | $363.8K |
| Jun 2, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 1,896 | $342.8K |
| Jun 2, 2026 | Fields Kimberly A Chair, President and CEO | Sale 10b5-1 plan | 13,865 | $2.48M |
| May 19, 2026 | Morehouse David J Director | Award | 1,743 | $0 |
| May 19, 2026 | Corvi Carolyn Director | Award | 905 | $0 |
| May 19, 2026 | Hess David P Director | Award | 905 | $0 |
| May 19, 2026 | Kah Marianne Director | Award | 905 | $0 |
| May 19, 2026 | Carlisle Herbert J Director | Award | 905 | $0 |
| May 19, 2026 | Lydon-Rodgers Jean Director | Award | 905 | $0 |
| May 19, 2026 | BALL M LEROY Director | Award | 905 | $0 |
| May 19, 2026 | Lund Elizabeth Hefley Director | Award | 905 | $0 |
| May 19, 2026 | Sharma Ruby Director | Award | 905 | $0 |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 8,780 | $1.41M |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 3,350 | $527.7K |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 11,982 | $1.92M |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 2,600 | $414.4K |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 1,300 | $200.2K |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 6,420 | $1.02M |
| May 11, 2026 | Fields Kimberly A President, CEO and Director | Sale 10b5-1 plan | 5,568 | $870.2K |
| Mar 20, 2026 | Bhatia Vaishali S. SVP, General Counsel and CCO | Tax withheld | 3,509 | $505.1K |
| Mar 9, 2026 | Morehouse David J Director | Sale | 5,324 | $822.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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