Stock Track | ATI Stock Plunges After Disappointing Q3 Earnings Miss and Guidance Cut

Stock Track

Oct 29, 2024

ATI Inc. (NYSE: ATI) stock plummeted by 9.47% on October 29, 2024, after the company reported disappointing third-quarter 2024 earnings results and lowered its full-year guidance.

The specialty materials and solutions provider missed analyst estimates for both earnings and revenue in Q3 2024. ATI reported adjusted earnings per share of $0.60, falling short of the consensus estimate of $0.66 by 9.09%. The company's revenue of $1.051 billion also came in lower than the expected $1.124 billion, missing the mark by 6.47%.

ATI's Q3 2024 earnings per share declined by 6.25% year-over-year, despite a modest 2.44% increase in revenue compared to the same period last year. The company attributed the weaker-than-expected performance to industry-wide challenges and uncertainty, including a slowing aircraft production ramp-up and supply chain disruptions caused by factors like a work stoppage and transportation issues related to Hurricane Helene.

In response to the challenging environment, ATI lowered its full-year 2024 guidance. The company now expects adjusted earnings per share in the range of $2.24 to $2.30, down from the previous estimate of $2.40 to $2.60. ATI also cut its adjusted EBITDA guidance to $700 million to $710 million, from the previous range of $720 million to $750 million.

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(NYSE: ATI) stock plummeted by 9.47% on October 29, 2024, after the company reported disappointing third-quarter 2024 earnings results and lowered its full-year guidance.</p>\n\n<p>The specialty materials and solutions provider missed analyst estimates for both earnings and revenue in Q3 2024. ATI reported adjusted earnings per share of $0.60, falling short of the consensus estimate of $0.66 by 9.09%. The company's revenue of $1.051 billion also came in lower than the expected $1.124 billion, missing the mark by 6.47%.</p>\n\n<p>ATI's Q3 2024 earnings per share declined by 6.25% year-over-year, despite a modest 2.44% increase in revenue compared to the same period last year. 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(NYSE: ATI) stock plummeted by 9.47% on October 29, 2024, after the company reported disappointing third-quarter 2024 earnings results and lowered its full-year guidance.</p>\n\n<p>The specialty materials and solutions provider missed analyst estimates for both earnings and revenue in Q3 2024. ATI reported adjusted earnings per share of $0.60, falling short of the consensus estimate of $0.66 by 9.09%. The company's revenue of $1.051 billion also came in lower than the expected $1.124 billion, missing the mark by 6.47%.</p>\n\n<p>ATI's Q3 2024 earnings per share declined by 6.25% year-over-year, despite a modest 2.44% increase in revenue compared to the same period last year. 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ATI also cut its adjusted EBITDA guidance to $700 million to $710 million, from the previous range of $720 million to $750 million.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ATI","symbol_name":"阿利根尼","start_time":0,"source_url":"","article_id":"1123398988","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1123398988","pubTimestamp":1730210980,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"ATI Inc.  stock plummeted by 9.47% on October 29, 2024, after the company reported disappointing third-quarter 2024 earnings results and lowered its full-year guidance.The specialty materials and solutions provider missed analyst estimates for both earnings and revenue in Q3 2024. 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The company's revenue of $1.051 billion also came in lower than the expected $1.124 billion, missing the mark by 6.47%.\nATI's Q3 2024 earnings per share declined by 6.25% year-over-year, despite a modest 2.44% increase in revenue compared to the same period last year. The company attributed the weaker-than-expected performance to industry-wide challenges and uncertainty, including a slowing aircraft production ramp-up and supply chain disruptions caused by factors like a work stoppage and transportation issues related to Hurricane Helene.\nIn response to the challenging environment, ATI lowered its full-year 2024 guidance. The company now expects adjusted earnings per share in the range of $2.24 to $2.30, down from the previous estimate of $2.40 to $2.60. 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