Allegheny Technologies (NYSE: ATI) reported Q2 EPS of $0.60, $0.02 better than the analyst estimate of $0.58. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.11 billion.

Outlook

\"Our execution and ability to capitalize on market opportunities allows us to drive increased margins and generate strong operating cash flow,\" said Fields. \"ATI\'s capabilities, long-term agreements and backlog positions us to reaffirm our full year outlook. Our clear strategy of leading in aerospace & defense and \'aero-like\' markets puts us on track us to meet our 2024 guidance. We continue to be confident in our ability to deliver our 2025 and 2027 financial targets. Our recently announced new sales commitments of $4 billion from the Farnborough International Airshow, which are predominantly for nickel alloys, include $550 million of revenue for 2027. This further demonstrates that we remain on track to exceed both $5 billion in revenue and $1 billion in adjusted EBITDA by 2027.\"

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