ATI Lowers 2024 Guidance: Now Sees Adj. EPS Of $2.24-$2.30 (Prior $2.40-$2.60) Vs. $2.45 Est.; Sees Adjusted EBITDA Of $700M-$710M (Prior $720M - $750M)
Portfolio Pulse from Benzinga Newsdesk
ATI has lowered its 2024 guidance, reducing its adjusted EPS forecast to $2.24-$2.30 from $2.40-$2.60 and adjusted EBITDA to $700M-$710M from $720M-$750M. Despite challenges, demand in end markets remains strong, and the company is focused on growth in aerospace and defense sectors.
October 29, 2024 | 11:44 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
ATI has revised its 2024 financial guidance downward, citing challenges with critical customers but strong demand in aerospace and defense markets. Adjusted EPS is now expected to be $2.24-$2.30, down from $2.40-$2.60, and adjusted EBITDA is forecasted at $700M-$710M, down from $720M-$750M.
The downward revision in ATI's 2024 guidance for both adjusted EPS and EBITDA indicates potential short-term pressure on the stock price. The company's acknowledgment of challenges with critical customers suggests uncertainty, although strong demand in aerospace and defense markets may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100