ATI (ATI) Q4 2025 Earnings
How Did ATI Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −2.49%.
Did ATI Beat Earnings? Q4 2025 Results
Yes. ATI reported Q4 2025 earnings of $0.93 a share on Feb 3, 2026, beating the $0.87 consensus estimate by 7.5%. Revenue was $1.2B against a $1.2B estimate.
ATI Inc. delivered a profit-driven quarter to close fiscal 2025, posting adjusted EPS of $0.93 against a consensus estimate of $0.87, a beat of 7.48%, even as revenue of $1.18 billion edged just below the $1.19 billion estimate and came in nearly flat year-over-year at +0.4%. The primary engine behind the earnings strength was aerospace and defense, which accounted for 68% of Q4 sales, up from 65% a year earlier, fueling demand for ATI's proprietary alloys and a richer product mix that lifted adjusted EBITDA to $231.90 million, or 19.7% of sales. The High Performance Materials and Components segment saw Q4 sales climb 7% sequentially to $645.90 million on higher jet engine and airframe shipments, while full-year operating cash flow surged more than 50% to $614.30 million, enabling $470.00 million in share repurchases. Looking ahead, ATI guided full-year 2026 adjusted EPS to $3.99 to $4.27 and adjusted EBITDA of $975.00 million to $1.03 billion, with management citing sustained demand in core markets and strong operational execution as the foundation for continued margin and cash flow expansion.
- Robust demand for aerospace & defense materials, representing 68% of Q4 sales
- Commercial jet engine sales increased to 39% of total Q4 revenue
- HPMC segment EBITDA margin expanded to 24.0% from 20.0% year-over-year
- AA&S segment EBITDA margin improved to 18.5% from 16.3% year-over-year on favorable manufacturing costs and exotic alloy pricing
- Disciplined working capital management drove managed working capital to 32.5% of annualized sales, down 390 basis points sequentially
- Full-year operating cash flow increased more than 50% year-over-year to $614 million
“As we projected, we finished 2025 with strong momentum, exceeding the upper range of our fourth quarter and full-year earnings and cash flow guidance. Demand for ATI's differentiated products and solutions continues to be robust as we support our customers' production ramps and critical missions. I am more confident than ever in ATI's position as an integral part of our customers' supply chains.”
ATI CEO, on the earnings call
What Was ATI's Outlook in Q4 2025?
ATI provided first quarter and fiscal year 2026 guidance. Q1 2026: Adjusted EBITDA of $216M–$226M and adjusted EPS of $0.83–$0.89. Full-year 2026: Adjusted EBITDA of $975M–$1,025M, adjusted EPS of $3.99–$4.27, and adjusted free cash flow of $430M–$490M. Management cited sustained demand in core markets and strong operational execution as drivers for higher earnings, margins, and cash flows.
ATI YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.2B | $1.2B | +0.4% |
| Gross Profit | $273.4M | $258.8M | +5.6% |
| Operating Income | $170.6M | $208.9M | −18.3% |
| Net Income | $96.6M | $137.1M | −29.5% |
ATI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.