ATI beats third-quarter expectations with EPS of $1.46 and revenue of $1.42 billion

Adjusted EBITDA rose 46 per cent to $328 million, and the company raised its full-year outlook.

ATI reported adjusted earnings of $1.46 per share for the third quarter of 2026. That was $0.08 above expectations. Revenue was $1.42 billion, against $1.34 billion expected. Sales rose 26 per cent from a year earlier, and ATI said sales grew in all key markets. In the third quarter of 2025, adjusted earnings per share were $0.85.

GAAP earnings per share were $1.37, up from $0.78 a year earlier, which ATI puts at a rise of 76 per cent. Net income attributable to ATI was $190 million, up 73 per cent. Adjusted net income was $202 million, up 69 per cent. Adjusted EBITDA came in at $328 million, up 46 per cent, and the margin widened by 300 basis points to 23.0 per cent. ATI said this beat the high end of its own third-quarter guidance by $13 million.

Kimberly A. Fields, ATI's chair, president and chief executive, credited the quarter to strong demand, which she linked to long-term agreements with customers, along with differentiated capabilities and disciplined execution. ATI raised its full-year 2026 adjusted EBITDA guidance by $35 million, to $1.195 billion. The company had raised that guidance by $125 million in the previous quarter.

The company bought back $150 million of its shares at an average of $76.07 each, which leaves $120 million of its repurchase authorization. ATI scheduled its earnings call for 8:30 a.m. Eastern today. The long-term agreements Fields cited are the main test ahead. If they keep demand steady in coming quarters, the strong revenue quarter may carry forward. The cash pace will also need to cover the remaining $120 million of buyback authorization.