$2.2 billion to be delivered by 2030
FARNBOROUGH, England, July 23, 2024 /PRNewswire/ -- At the Farnborough International Airshow, ATI Inc. (NYSE: ATI) is celebrating its aerospace leadership by announcing $4 billion in new sales commitments through 2040. The majority of the additional revenue – approximately $2.2 billion – will be delivered in the balance of this decade. The collective commitments are predominantly for nickel alloys serving the jet engine market where ATI's high-performance materials and solutions are differentiated the most.
"These agreements reinforce the value our customers place on securing critical supply for both the near- and long-term," said Kim Fields, President and CEO.
"As we partner with our customers to solve their greatest challenges, we are gaining market share and earning improved contractual positions. These new commitments reinforce our confidence that ATI is well-positioned to achieve our financial targets in 2025 and 2027 and beyond," said Fields.
The new sales commitments represent an estimated $500 million of revenue in 2025 and $550 million in 2027. Approximately 20% of these revenues are incremental to ATI's previously announced financial targets.
ATI: Proven to Perform.
ATI (NYSE: ATI) is a global producer of high performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical and specialty energy. We're solving the world's most difficult challenges through materials science. We partner with our customers to deliver extraordinary materials that enable their greatest achievements: their products fly higher and faster, burn hotter, dive deeper, stand stronger and last longer. Our proprietary process technologies, unique customer partnerships and commitment to innovation deliver materials and solutions for today and the evermore challenging environments of tomorrow. We are proven to perform anywhere. Learn more at ATImaterials.com.
SOURCE ATI