Allegheny Technologies rose in price to expect an increase in aircraft deliveries
Industrial innovation company Allegheny Technologies Incorporated (ATI) has published a favorable report and expects sales growth due to the recovery of the aviation industry. As a result, Allegheny’s sales increased by 16% year-on-year to $765.4 million at the end of the fourth quarter.
Operating profit doubled, and adjusted profit reached $33.6 million (+442%), or $0.25 per share. Operating cash flow was $261 million. Strong profit figures are given compared to the weak 2020 when production at many aerospace industry enterprises was stopped or reduced. Nevertheless, Allegheny Technologies has a favorable situation of growing demand for materials and structures for aircraft and defense equipment.
In addition, last year Allegheny Technologies abandoned less cost-effective supplies of stainless steel, for example, for the automotive industry. Instead, the company focuses on products for the energy, aerospace, and defense industries, where sales grow faster and have higher margins. Allegheny Technologies has an extensive portfolio of solutions.
The company produces high-strength products made of powder steels, prints parts for aviation equipment, has rolling and stamping parts made of titanium and exotic alloys for space technology products made of zirconium alloys, components for solar panels.
As engineers strive to increase equipment efficiency, for example, by taking operating modes to extreme temperature zones;
According to the management of Allegheny Technologies, the main targeted markets continue to recover after COVID-19. Allegheny Technologies has scheduled a meeting with investors for February 17, and good news from this event can give an impetus to the growth of quotations.
