Stainless steel and specialty alloy producer, Allegheny Technologies (ATI) expects its jet engine market to recover in the third quarter following strong demand for narrow-body aircraft.
The firm expects its specialty rolled products (SRP) output to return to its pre-strike levels as the global economy recovers.
ATI’s total sales in H1 2021 fell to $1.3bn from $1.7bn in H1 2020 and dropped to $616.2mn in Q2 2021 against $770.3mn in Q2 2020 and $692.5mn in Q1 2021.
The sales of high-performance materials and components in the first half of the year dropped to $541.5mn compared to $721mn in the same months in 2020. In Q2 2021 this segment’s sales decreased to $300.6mn compared to $300.7mn in Q2 2020 and rose from $240.9mn in Q1 2021.
Sales of advanced alloys and solutions dropped to $767.2mn in H1 2021 compared to $1bn in H1 2020. Its sales in Q2 2021 fell to $315.6mn from $469.6mn in Q2 2020 and $451.6mn in Q1 2021.
ATI’s total EBITDA in the first six months of the year fell to $147.5mn compared to $179.8mn in the same period in 2020. In Q2 2021 its EBITDA rose to $73.2mn from $62.1mn in Q2 2020 but fell from $74.3mn in Q1 2021.