ATI reports strong growth as aerospace recovery accelerates
In fourth quarter 2021, Allegheny Technologies Incorporated (ATI)’s reported 16.0% higher sales compared with fourth quarter 2020. Additionally, the company’s operating income more than doubled compared to third quarter 2021. ACI has attributed the significant growth and momentum in their business to maintaining lean cost structures and improving company product mix and pricing. More specifically, the High-Performance Materials & Components (HPMC) segment increased 5.0% in fourth quarter 2021 compared with third quarter 2021 and the Advanced Alloys & Solutions (AA&S) increased 6.0% during the same time period.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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