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ATI ATI Q2 2026 earnings

Reported August 6, 2026 · Before market open

Revenue$1.3BBeat by $45.1M
Adjusted EPS$1.23Beat by $0.20
Revenue estimate$1.2B
EPS estimate$1.03
“We delivered another solid quarter, with results above the high end of our guidance and adjusted EBITDA up 37% year-over-year on 11% sales growth. This is a clear example of the earnings potential we've been building across both of our segments. Adjusted EBITDA margin expanded 440 basis points to 22.6%, and our backlog reached another record at $4.4 billion, up 18% year-over-year, as demand for our unique aerospace and defense materials continues to outpace available supply. This quarter reflects the continued evolution of ATI's portfolio toward a more differentiated, higher-margin business, anchored by long-term customer agreements and concentrated exposure in aerospace, defense and specialty energy.”
Kimberly A. Fields

Next report

Oct 27, 2026 (in 2 months)
Revenue estimate$1.3B
EPS estimate$1.28

Financials

Q2 2026

Income statement

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Revenue$1.3B+10.6%
Gross profit$309.8M+27.8%
Operating income$220.0M+36.6%
Net income$151.0M+50.0%
EPS (diluted)$1.09+55.7%

Balance sheet

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Cash & equivalents$783.0M+145%
Total debt$2.2B+16.0%
Total equity$1.9B+7.6%
Total assets$5.7B+14.3%

Cash flow

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Operating cash flow$131.8M-18.4%
CapEx$68.6M-4.9%
Free cash flow$63.2M-29.3%

Valuation & ratios

Valuation

as of 08/27/26
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Market cap$28.99B+174%
Enterprise value$30.39B+150%
P/E60.9×+35.6×
P/S6.2×+3.8×

Profitability

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Gross margin23.4%+2.3pp
Operating margin15.2%+0.6pp
Net margin10.1%+0.8pp
FCF margin11.2%+5.9pp

Returns & leverage

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Return on equity26.3%-0.7pp
Debt / equity1.2×+0.1×
Current ratio2.3×-0.2×

Segments

By segment

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AA&S$742.6M+28.4%
HPMC$681.2M+2.9%

FAQ

When did ATI report Q2 2026 earnings?
ATI (ATI) reported Q2 2026 earnings on August 6, 2026 before market open.
What were ATI's Q2 2026 revenue and EPS?
ATI reported revenue of $1.3B and adjusted eps of $1.23 for Q2 2026.
Did ATI beat estimates in Q2 2026?
Revenue beat the consensus estimate of $1.2B by $45.1M. EPS beat the consensus estimate of $1.03 by $0.20.
How did ATI's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.6% from $1.1B a year earlier.
Where can I find ATI's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001628280-26-053856) and the 10-Q periodic report (0001628280-26-054233) directly on SEC EDGAR. The filing index links above go to sec.gov.