Slide 1: First Quarter 2021 Earnings
First Quarter 2021 Earnings April 29, 2021 © 2021 ATI. All rights reserved.
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements. Actual results may differ materially from results anticipated in the forward-looking statements due to various known and unknown risks, many of which we are unable to predict or control. These and additional risk facto
Slide 3: Key Takeaways – First Quarter 2021
Key Takeaways – First Quarter 2021 Performance & Outlook Strategic Progress Balance Sheet Earnings above expectations; Aerospace Leveraging capabilities to accelerate profitable Deploy capital to further strengthen balance demand gradually improving growth; transforming AA&S segment sheet and fund l
Slide 4: ATI Strategic Markets & Diversified Applications
ATI Strategic Markets & Diversified Applications Q1 2021 YoY Near-term Market Comments Revenue % Change Market Outlook • Continued demand improvement pace; Q1’21 increased 29% vs. Q4’20; led by next generation forgings and initial increases in specialty materials Jet Engine $106M (61%) • Next genera
Slide 5: First Quarter 2021 Financial Results
First Quarter 2021 Financial Results HPMC Segment $M (excl. EPS) Q1 2021 Q1 2020 % Chg. Significant declines versus strong pre-pandemic prior year period, driven by lower commercial aerospace demand Revenue $693 $955 (28%) Revenue: Commercial Aerospace sales down 62%, driven by weak, but improving
Slide 6: Cash and Liquidity Update
Cash and Liquidity Update Debt Maturity Schedule Balance Sheet and Cash Flow Net Debt/Adj. EBITDA Ratio: 6.8x (1) Cash and liquidity Liquidity ~$900 million, including $542 million cash on hand $600 Managed working capital $500 Q1: 41.5% of sales, slight increase from YE 2020 levels Continue
Slide 7: Second Quarter and Full Year 2021 Outlook
Second Quarter and Full Year 2021 Outlook Second Quarter 2021 Key Assumptions Initial Earnings Drivers & Current Status EPS 9 Aerospace demand stabilization in H1’21; modest growth in H2’21 Unable to accurately 9 Narrow body production increases across 2021 predict due to uncertain 9 Continued airfr
Slide 8: Additional Materials Appendix
Additional Materials Appendix
Slide 9: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 9
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 10
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 11
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 12