Description

ATI’s $4.4 Billion Backlog: Is Aerospace And Defense Rewriting The Growth Story?

ATI, a global manufacturer of specialized materials and components, reported strong results for its second quarter of 2026, highlighting growth across several business segments but also presenting some challenges related to timing and market dynamics. The company delivered adjusted EBITDA of $284 million, exceeding the high end of its guidance by $29 million and representing a 37% year-over-year increase to its strongest quarterly EBITDA since 2007. Revenue grew 11% year-over-year to $1.3 billion, supported by a record backlog of $4.4 billion, which was up 18% from the prior year and 7% sequentially. Adjusted free cash flow improved to $69 million in the quarter, with expectations of continued acceleration in the second half of the year.