ATI (ATI) Nosedives 18% on Missed Earnings Expectations
ATI Inc. dropped its share prices by 18.36 percent on Thursday to close at $76.94 apiece as investor sentiment was dampened by missed revenue forecasts in the second quarter of the year.
In an updated report, ATI Inc. (NYSE:ATI) said attributable net income increased by 22.9 percent to $100.7 million from $81.9 million in the same period last year, as revenues grew by 4.1 percent to $1.140 billion from $1.095 billion year-on-year. Revenues, however, missed consensus forecasts by 1.72 percent, dragging down sentiment.
In the first half, attributable net income grew by 33 percent to $197.7 million from $148 million, while sales rose by 6.5 percent to $2.28 billion from $2.14 billion.
In other developments, ATI Inc. (NYSE:ATI) announced its expanded agreement with The Boeing Company for the supply of titanium materials to the latter and its subsidiaries.
Photo by Jeremy Bezanger on Unsplash
Under the terms of the agreement, ATI will supply a comprehensive portfolio of high-performance titanium materials, including long products—such as ingots, billets, rectangles, and bars—and flat-rolled products, including plate, sheet, and coil.
While we acknowledge the potential of ATI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
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