By Chris Wack
ATI Inc. shares were up 9% to $63.42 after the company reported fourth-quarter earnings that beat analysts' expectations.
The metal and minerals company said it had quarterly earnings of $137.1 million, or 94 cents a share, compared with $145.7 million, or 99 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $87.4 million, or 60 cents a share.
Sales for the quarter were $1.17 billion, compared with last year's $1.06 billion and the $1.09 billion analysts were expecting.
Adjusted earnings were 79 cents a share, while analysts had been expecting adjusted earnings of 61 cents a share.
The company said quarterly sales to the aerospace and defense markets exceeded 65% of its total sales, bringing the full-year aerospace and defense mix to more than 62%.
For the first quarter, the company is looking for adjusted earnings of 55 cents to 61 cents a share, while analysts are looking for adjusted earnings of 59 cents a share. For fiscal 2025, ATI is expecting adjusted earnings of $2.80 to $3 a share. Analysts are forecasting adjusted earnings of $2.92 a share in 2025.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 04, 2025 10:57 ET (15:57 GMT)
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