ATI had a strong finish in 2022 with fourth-quarter sales of $1 billion, company officials announced Thursday.
It is an increase of more than 30% over the same time period in 2021.
“We’re executing expertly against robust markets,” CEO Bob Wetherbee said in a release by the company, which moved its executive headquarters from Pittsburgh to Dallas last June.
“We’re meeting our commitments and getting better every day. We’re proud of our 2022 results.
“More specifically, I’m extremely proud of the team that produced them.”
Full-year sales of $3.8 billion in 2022 were up more than 35% over 2021.
According to the release, continued strong performance and year-over-year revenue growth in aerospace and defense helped drive profits in 2022.
Aerospace and defense represents 53% of the fourth-quarter sales, up from 41% during the same quarter of 2021.
“We’re on the verge of the most robust aerospace ramp in decades, and we’re running our business to take full advantage of everything that opportunity presents,” Wetherbee said.
In the High Performance Materials and Components segment, full-year sales were up more than 40%, Wetherbee said.
Advanced Alloys and Solutions saw a 33% increase in full-year sales, despite fourth-quarter sales dipping 2% compared to the third quarter.
Fourth-quarter sales to the aerospace and defense markets were 2% higher compared to the third quarter, and sales to the energy markets increased 4% during the same time frame.
Sales of commercial aerospace products increased by 113% compared to the prior year period for the Advanced Alloys and Solutions segment, which includes Specialty Rolled Products headquartered in Harrison with operations in Harrison, Brackenridge and Vandergrift.
“Now, we’re building on our momentum,” Wetherbee said. “We’re accelerating to meet and exceed our 2025 targets.”
Also of note for ATI, the business transformation and footprint consolidation of Specialty Rolled Products is nearly complete.
“We’re on track to produce first coils at the new bright anneal furnace in Vandergrift in the next 90 days,” communications director Natalie Gillespie said.
Full qualification and production will come soon after.
