filecrux
Oct 29, 4:39 PM
$ATI Can ATI produce the
$327M+ of Q4 free cash flow its unchanged
$550M–
$600M full-year cash guide needs?
🚀 ATI, a maker of specialty alloys sold mostly for jet engines and defense, beat its Q3 guide with
$328M of adjusted EBITDA on
$1.42B of sales, up 26%, and raised its full-year EBITDA guide by
$35M to
$1,190M–
$1,200M
⚠️ It left its 2026 adjusted free cash flow guide unchanged at
$550M–
$600M, and Q3 adjusted free cash flow fell to
$79.6M from
$199.7M a year earlier
📈 The other side is that cash also came late last year, with only
$149.5M of adjusted free cash flow through nine months of 2025, and managed working capital improved to 32.9% of annualized sales from 34.3% in Q2
📅 Next: ATI's Q4 2026 results will show whether fourth-quarter cash reaches the
$327M–
$377M its unchanged full-year guide needs
Source: ATI PR Newswire release + SEC 8-K, Oct 29
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