Specialty materials manufacturer ATI (NYSE: ATI) will be reporting earnings this Thursday before the bell. Here’s what investors should know.
ATI missed analysts’ revenue expectations last quarter, reporting revenues of $1.18 billion, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.
Is ATI a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ATI’s revenue to grow 3.7% year on year, slowing from the 9.7% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. ATI has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at ATI’s peers in the aerospace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. AAR delivered year-on-year revenue growth of 24.6%, beating analysts’ expectations by 4.1%, and Boeing reported revenues up 14%, topping estimates by 2.9%. AAR traded up 9.9% following the results while Boeing was also up 6.8%.
Read our full analysis of AAR’s results here and Boeing’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 14.1% on average over the last month. ATI is up 11.8% during the same time and is heading into earnings with an average analyst price target of $173.22 (compared to the current share price of $151.52).
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