Slide 1: Second Quarter 2021 Earnings
Second Quarter 2021 Earnings August 3, 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 – Second Quarter 2021
Key Takeaways – Second Quarter 2021 Performance Strategic Progress Balance Sheet Aerospace demand improvement continues; Leveraging capabilities to accelerate profitable Deploy capital over time to further strengthen significant 1-time impact from USW strike growth; transforming AA&S segment balance
Slide 4: ATI Strategic Markets & Diversified Applications
ATI Strategic Markets & Diversified Applications Adjusted Near-term Market Q2 ‘21 Vs. Q1 ‘21 Vs. Q2 ‘20 Comments Market Outlook Revenue* • Accelerating demand growth driven by specialty materials for narrow body jet engines and continued forgings’ growth Jet Engine $123M +26% (16%) • Next generation
Slide 5: Second Quarter 2021 Financial Results
Second Quarter 2021 Financial Results $M (excl. EPS) Q2 2021 Q1 2021 % Chg. Q2 2020 % Chg. HPMC Segment Revenue $616 $693 (11%) $770 (20%) Sequential growth led by early-stage commercial jet engine recovery Revenue: Sequential growth in all major markets, led by jet engine HPMC Segment $301 $241 2
Slide 6: Cash and Liquidity Update
Cash and Liquidity Update Debt Maturity Schedule Balance Sheet and Cash Flow Net Debt/Adj. EBITDA Ratio: 7.5x (1) Cash and liquidity Liquidity ~$830 million, including $473 million cash on hand $600 Managed working capital $500 Q2: 47.9% of sales; negatively impacted by inventory required for
Slide 7: Third Quarter and Full Year 2021 Outlook
Third Quarter and Full Year 2021 Outlook Third Quarter 2021 Key Assumptions Initial Earnings Drivers & Current Status Adj. EPS* Aerospace demand stabilization in H1’21; modest growth in H2’21 ($0.08) – $0.00 Narrow body production increases across 2021 Continued airframe destocking across 2021
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
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