Slide 1: Fourth Quarter & Full Year 2021 Earnings
Fourth Quarter & Full Year 2021 Earnings February 2, 2022 © 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
Key Takeaways Performance Balance Sheet Strategic Progress Aerospace recovery accelerates and broadens; Significant pension plan funding improvement; Transforming AA&S segment to focus on high- SRP business transformation benefits large Q4 working capital release value materials and markets Jet en
Slide 4: Strategic Transformation Progress
Strategic Transformation Progress Tracking the leading indicators of success Improved Product Mix Streamlined Footprint (Q4 2021) Brackenridge Louisville, OH* Dept. #3 Q3’21: 85% Target Target 100% by 5 by mid- mid-2022 2022 Bridgeview, IL Waterbury, CT 96% Pico Rivera, CA (sold Q1’22) Metric: high
Slide 5: ATI Strategic Markets & Diversified Applications
ATI Strategic Markets & Diversified Applications Near-term Q4 ‘21 Market Vs. Q3 ‘21 Vs. Q4 ‘20 Market Comments Revenue Outlook • Broadening Q4 growth to include materials and high-value flat products. Consistently strong forgings demand. Narrowbody engines, led by LEAP, outpacing widebody. Jet Engin
Slide 6: Fourth Quarter 2021 Financial Results
Fourth Quarter 2021 Financial Results Strong YOY incremental margins in both segments HPMC Segment $M (excl. EPS) Q4 2021 Q3 2021 % Chg. Q4 2020 % Chg. Expanding commercial aerospace recovery driving sequential and year-over-year improvements Revenue $765 $726 6% $658 16% Revenue: Sequential growt
Slide 7: Full Year 2021 Financial Results
Full Year 2021 Financial Results Sales and Earnings run rate building across the year HPMC Segment % Chg. $M (excl. EPS) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 vs PY Accelerating commercial aerospace recovery, disciplined cost management Revenue $693 $616 $726 $765 $2,800 (6%) Revenue: Building m
Slide 8: Cash and Liquidity Update
Cash and Liquidity Update Balance Sheet and Cash Flow Cash and liquidity at year-end 2021 (1) (2) Adj. Net Debt/Adj. EBITDA Ratio: 4.0x Liquidity over $1 billion, including $688 million cash on hand Managed working capital – Q4 performance $500 37.5% of sales; improved ~750 bp vs. Q3’ 21 $450
Slide 9: First Quarter and Full Year 2022 Outlook
First Quarter and Full Year 2022 Outlook First Quarter 2022 Key Assumptions Initial Earnings Drivers Adj. EPS1 Jet engine-driven aerospace demand ramp across 2022 $0.18 – $0.26 Narrow body production increases Flat YOY airframe market No significant new pandemic-related market disruptions Fu
Slide 10: Additional Materials Appendix
Additional Materials Appendix
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
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 13
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 14
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures © 2021 ATI. All rights reserved. 15