share_log

ATI Lowers 2024 Guidance: Now Sees Adj. EPS Of $2.24-$2.30 (Prior $2.40-$2.60) Vs. $2.45 Est.; Sees Adjusted EBITDA Of $700M-$710M (Prior $720M - $750M)

Benzinga ·  Oct 29 19:44

Outlook

"The third quarter presented challenges and we expect to continue to see uncertainty with our most critical customers through the remainder of 2024 and first part of 2025. That said, the demand in our end markets remains very strong and our strategy of leading in aerospace & defense and 'aero-like' markets will deliver growth and continued margin expansion," said Fields. "We remain committed to creating lasting shareholder value."

The company is updating its full year 2024 guidance. The table below includes the current and prior guidance:

2024 Full Year Guidance
Current Update July 2024
Adjusted EBITDA**$700M - $710M $720M - $750M
Adjusted Earnings Per Share**$2.24 - $2.30 $2.40 - $2.60
Free Cash Flow**$220M - $300M $260M - $340M
Capital Expenditures$210M - $230M $190M - $230M
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