ATI - Why ATI Stock Is Flying High Today
2024-04-30 14:34:00 ET
Material sciences specialist ATI (NYSE: ATI) reported a strong first quarter, and its guidance implies that issues at Boeing are not softening demand for its products. Investors are relieved, sending ATI shares up 17% as of 2 p.m. ET.
ATI makes high-performance materials for the aerospace , defense, healthcare, and energy markets. It is best known for the composite fibers used to replace heavier metals on aircraft to improve fuel economy.
ATI earned $0.48 per share in the quarter on sales of $1.04 billion, topping Wall Street expectations for $0.41 per share in earnings on sales of $1.03 billion. Sales to the aerospace and defense sector were up 7% year over year, fueling the beat.
For further details see:
Why ATI Stock Is Flying High Today