Shares of ATI Inc. (NYSE: ATI) plummeted over 5% in pre-market trading on Monday, following the company's disappointing third-quarter earnings report. ATI reported adjusted earnings per share of $0.60, missing the consensus estimate of $0.66 by a significant margin of 9.09%. The company also fell short on the revenue front, generating sales of $1.051 billion, which was 6.47% lower than the estimated $1.124 billion.

The earnings miss likely caught investors off guard, as ATI's shares had been trading near their 52-week highs in anticipation of strong results. The company's year-over-year performance also failed to impress, with earnings per share declining by 6.25% compared to the same period last year, despite a modest 2.44% increase in sales.

Analysts and investors will be closely scrutinizing ATI's management commentary and guidance for the upcoming quarters to assess the impact of the earnings shortfall on the company's growth prospects. The stock's pre-market plunge highlights the market's sensitivity to earnings misses, particularly in the current economic environment where investors are seeking stability and predictability.