Analyst Consensus ?
ConsensusBuy30 ratings
Bullish2066.7%
Neutral930.0%
Bearish13.3%
ATI Inc. · ATI · FY2025 Q3 · Calendar Q4 2025
ATI lifts 2025 outlook as aerospace and defense demand supports growth
The quarter adds evidence that aerospace and defense demand and operational improvements are supporting ATI’s growth and cash generation. The outlook is constructive, but the transcript analysis leaves open how durable MRO growth and margins will be and how smoothly capacity projects will execute.
Reported Before market openNYSEIndustrials
$22.49B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.85
Consensus $0.73
EPS surprise
+16.0%
Reported versus consensus
Reported revenue
$1.13B
Consensus $1.12B
Revenue surprise
+0.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+7.4%
Event window
SPY move
+0.3%
Same window
Abnormal move
+7.2%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
+0.8%
Up to 20 sessions
ATISPY benchmark
Ask FN2 about ATI FY2025 Q3
Transcript, numbers and history already loaded
Why did ATI rise 7.4% after beating EPS estimates in FY2025 Q3?What changed in ATI's guidance and outlook in FY2025 Q3?Give me the bull and bear case for ATI after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management reported 7% year-over-year revenue growth and adjusted EBITDA margin above 20%, and raised full-year 2025 adjusted EBITDA and free cash flow guidance. The company said aerospace and defense represented 70% of revenue; operational initiatives added capacity without major capital expenditure. The call also included the CFO’s retirement announcement.
Guidance delta
Raised full-year 2025 adjusted EBITDA and free cash flow guidance. The supplied analysis does not provide the revised guidance figures or explain the contribution from pricing versus volume.
Key takeaways
- Aerospace and defense demand, including next-generation jet engines and defense programs, were identified as key growth drivers.
- Management attributed additional capacity to operational improvements, while describing capital expenditure as stable.
- High-value nickel, titanium and zirconium products and long-term customer agreements remain central to the growth plan.
- The transcript analysis flags uncertainty around MRO growth durability and the components of working-capital improvement.
Management priorities
- Expand nickel-melt capacity selectively, with customer co-funding for hot-section alloys.
- Increase flat-rolled titanium revenue with Airbus starting next year, as described by management.
- Upgrade zirconium production and build stockpiles for nuclear and energy markets.
- Continue operational-efficiency improvements and pursue product qualifications and long-term agreements.
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Miss
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Analyst 52W Price Targets
$165.59Previous close
$45Low
$185.25Average
$275High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BTIG | Buy | Buy | Maintain | Oct 30, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Oct 8, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Sep 30, 2026 |
| Susquehanna | Positive | Positive | Maintain | Aug 7, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 13, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 1, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 4, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 8, 2025 |
| Benchmark | Buy | Buy | Maintain | Apr 21, 2025 |
| Northcoast Research | Neutral | Buy | Downgrade | Jun 14, 2024 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 6, 2023 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Aug 5, 2022 |
| Berenberg | Buy | Hold | Upgrade | Jan 7, 2022 |
| B of A Securities | Neutral | Underperform | Upgrade | Jul 7, 2021 |
| CFRA | Buy | Buy | Maintain | Feb 5, 2020 |
| Longbow Research | Underperform | Neutral | Downgrade | Oct 15, 2019 |
| Goldman Sachs | Buy | Neutral | Upgrade | Oct 10, 2019 |
| Buckingham Research | Neutral | Neutral | Maintain | Sep 25, 2019 |
| Buckingham | Neutral | Neutral | Maintain | Sep 25, 2019 |
| Macquarie | Neutral | Outperform | Downgrade | Apr 12, 2019 |
| Bank of America | Buy | Buy | Maintain | Jul 25, 2018 |
| Seaport Global | Buy | Neutral | Upgrade | Mar 16, 2017 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 1, 2015 |
| Stifel | Buy | Buy | Maintain | Oct 1, 2015 |
| Sterne Agee | Neutral | Underperform | Upgrade | Apr 14, 2014 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 3, 2014 |
| Davenport | Neutral | Buy | Downgrade | Jul 25, 2013 |
| Topeka Capital | Hold | Buy | Downgrade | Jul 23, 2013 |
| Topeka | Hold | Buy | Downgrade | Jul 23, 2013 |
| Citigroup | Buy | Buy | Maintain | Apr 25, 2013 |
Named analyst price targets
Upside is calculated against the persisted previous close $165.59. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| KeyBanc | Samuel McKinney | $228 | $189.19 | +37.7% | Oct 8, 2026 |
| KeyBanc | Analyst unavailable | $258 | $230.08 | +55.8% | Aug 12, 2026 |
| Deutsche Bank | Scott Deuschle | $262 | $232 | +58.2% | Aug 10, 2026 |
| Wells Fargo | David Strauss | $275 | $227.84 | +66.1% | Aug 10, 2026 |
| Susquehanna | Analyst unavailable | $265 | $223.43 | +60.0% | Aug 7, 2026 |
| Susquehanna | Charles Minervino | $215 | $190.68 | +29.8% | Jul 9, 2026 |
| KeyBanc | Analyst unavailable | $175 | $155.26 | +5.7% | May 4, 2026 |
| BTIG | Analyst unavailable | $180 | $155.46 | +8.7% | May 1, 2026 |
| Deutsche Bank | Analyst unavailable | $194 | $155.46 | +17.2% | May 1, 2026 |
| Susquehanna | Analyst unavailable | $185 | $161.07 | +11.7% | Apr 10, 2026 |
| KeyBanc | Analyst unavailable | $167 | $159.63 | +0.9% | Apr 9, 2026 |
| Susquehanna | Analyst unavailable | $155 | $127.54 | -6.4% | Feb 4, 2026 |
| BTIG | Analyst unavailable | $165 | $128.34 | -0.4% | Feb 4, 2026 |
| Deutsche Bank | Analyst unavailable | $150 | $128.34 | -9.4% | Feb 4, 2026 |
| Susquehanna | Analyst unavailable | $145 | $126.26 | -12.4% | Jan 15, 2026 |
| Alembic Global | Analyst unavailable | $141 | $123.24 | -14.8% | Jan 15, 2026 |
| KeyBanc | Analyst unavailable | $132 | $124.42 | -20.3% | Jan 14, 2026 |
| Susquehanna | Analyst unavailable | $120 | $100.19 | -27.5% | Oct 29, 2025 |
| Deutsche Bank | Analyst unavailable | $98 | $83.51 | -40.8% | Oct 8, 2025 |
| BTIG | Analyst unavailable | $120 | $75.64 | -27.5% | Aug 4, 2025 |
| Deutsche Bank | Scott Deuschle | $115 | $87.83 | -30.6% | Jul 8, 2025 |
| BTIG | Andre Madrid | $105 | $79.93 | -36.6% | May 28, 2025 |
| BTIG | Andre Madrid | $90 | $67.38 | -45.6% | May 5, 2025 |
| KeyBanc | Philip Gibbs | $55 | $50.41 | -66.8% | Apr 23, 2025 |
| Susquehanna | Charles Minervino | $70 | $56.06 | -57.7% | Oct 30, 2024 |
| Deutsche Bank | Scott Deuschle | $84 | $65.59 | -49.3% | Oct 3, 2024 |
| Susquehanna | Charles Minervino | $75 | $59.94 | -54.7% | Sep 5, 2024 |
| KeyBanc | Philip Gibbs | $66 | $60.84 | -60.1% | May 28, 2024 |
| Deutsche Bank | Scott Deuschle | $70 | $50.07 | -57.7% | Apr 11, 2024 |
| Cowen & Co. | Analyst unavailable | $45 | $40.15 | -72.8% | Feb 6, 2023 |
| KeyBanc | Philip Gibbs | $34 | $25.48 | -79.5% | Jun 10, 2022 |
| KeyBanc | Philip Gibbs | $31 | $27.72 | -81.3% | Apr 5, 2022 |
Track every rating change on ATI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationGlobally, ATI Inc. stands as a premier manufacturer and supplier of specialized materials and complex components. The enterprise's operations are strategically divided into two primary divisions: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment is responsible for creating a diverse range of advanced substances, including titanium and its numerous alloys, nickel- and cobalt-based alloys (such as superalloys), sophisticated powdered alloys, and other distinctive specialty materials. These are offered in elongated product forms like ingots, billets, bars, rods, wires, various structural shapes, rectangular sections, and seamless tubing.…
Historical context
All ATI earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GD General Dynamics Corporation | FY2026 Q3 · Calendar Q4 2026 | +9.0% | +0.5% | General Dynamics raises outlook as orders and backlog surge |
| RBC RBC Bearings Incorporated | FY2027 Q2 · Calendar Q4 2026 | +5.9% | -6.8% | RBC Bearings: Strong Q2, capacity investment supports second half |
| CNI Canadian National Railway Company | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -0.3% | CN posts strong Q3, maintains EPS outlook and expands Mexico strategy |
| NVT nVent Electric plc | FY2026 Q3 · Calendar Q4 2026 | +8.6% | -8.8% | nVent raises outlook as data-center demand and Maverick broaden growth |
| MTZ MasTec, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +0.8% | MasTec posts record Q3 as power and data-center demand accelerates |
| IR Ingersoll Rand Inc. | FY2026 Q3 · Calendar Q4 2026 | +18.5% | +0.2% | Ingersoll Rand raises FY2026 outlook as orders accelerate |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the ATI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T13:30:44.710163+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T13:30:44.707386+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.