- The severely battered stock price of ATI, which has lost almost 34.8% since the beginning of the year, is due to continue recuperating thanks to the sector rotation.
- Q3 was dismal; revenues tumbled by 41.4%, as the aerospace end-market was still suffering from the ripple effects of the pandemic.
- ATI remains FCF positive in the trailing four quarters, thanks to scrupulous working capital management.
- Q4 will likely bring no relief, but I expect the market to continue pricing in the 2021 recovery prospects.
For further details see:
Allegheny Technologies: It Is Always Darkest Before The Dawn