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ATI INC

CIK: 10189631 Annual ReportLatest: 2026-02-20

10-K / February 20, 2026

ATI Inc.

Company and business model

  • Delaware corporation with corporate headquarters at 2021 McKinney Avenue, Dallas, TX 75201.
  • Mission: "to solve the world’s challenges through materials science."
  • Operates two reportable segments:
    • High Performance Materials & Components (HPMC)
    • Advanced Alloys & Solutions (AA&S)

Segment overview and product focus

HPMC

  • Produces high-performance materials, parts, and components for aerospace & defense, specialty energy, and medical markets.
  • Materials: nickel-based alloys and superalloys, titanium and titanium-based alloys, and other specialty materials.
  • Capabilities: cast/wrought and powder alloys, precision forgings, machined parts, and 3D-printed aerospace products.
  • Revenue mix: about 92% of HPMC revenue in 2025 came from aerospace & defense; roughly 68% of HPMC revenue was from commercial jet engines.

AA&S

  • Produces nickel-based alloys, titanium and titanium-based alloys, and specialty alloys (including zirconium, hafnium, niobium).
  • Product forms include plate, sheet, and other configurations focused on high-value materials for extreme environments.
  • End-market mix: aerospace & defense accounted for about 41% of AA&S revenue, with additional exposure to specialty energy, conventional energy, electronics, and other markets.

Global footprint and capabilities

  • Selected manufacturing and processing locations:
    • HPMC: melting in Monroe, NC; Bakers, NC; Richland, WA. Finishing in Monroe, NC; Bakers, NC; Richburg, SC; Oakdale, PA. Forging/machining in Cudahy, WI; Appleton, WI; Coon Valley, WI; Irvine, CA. Additive manufacturing in Margate, FL.
    • AA&S: zirconium, hafnium, niobium production in Millersburg, OR and Huntsville, AL. Nickel melting in Lockport, NY. Titanium melting in Albany, OR. Flat-rolled materials finishing in Vandergrift, WA and facilities in Rochester, Monaca, and Zelienople, PA; Pageland, SC. Forging/machining in Stalowa Wola, Poland.
    • STAL joint venture (PRS products) in Xin-Zhuang Industrial Zone, Shanghai, China (ATI owns 60%).
  • Facilities are substantially company-owned; select international sites are leased (France, Germany, U.K., Poland, Mexico, China).
  • Corporate headquarters in Dallas, TX (leased) and an enterprise resource center in Pittsburgh, PA (leased).

End markets and customer dynamics

  • Aerospace & Defense is ATI’s largest end market across both segments.
  • International sales represent about 42% of total annual sales; direct export sales to foreign customers account for about 34% of total sales.
  • Many HPMC products are sold under multi-year agreements; some AA&S products are also covered by long-term arrangements.

Financial snapshot (fiscal year ended December 28, 2025)

  • Total revenues: approximately $4.6 billion (compared with $4.4 billion in 2024 and $4.2 billion in 2023).
  • Revenue by segment:
    • HPMC: about 53% of total revenue.
    • AA&S: about 47% of total revenue.
  • Backlog of confirmed orders (as of December 28, 2025):
    • Total backlog: about $3.7 billion.
    • HPMC backlog: about $3.1 billion.
    • AA&S backlog: about $0.6 billion.
    • Expected fulfillment in fiscal year 2026: approximately 70% of the HPMC backlog and 90% of the AA&S backlog.
  • Employees: approximately 7,600 active employees; about 15% are located outside the U.S., across 15 countries.

Raw materials, energy, and supply chain

  • Key materials: nickel-based alloys, titanium, zirconium, hafnium, niobium, cobalt, chromium, molybdenum, and related alloys.
  • Global sourcing with material exposure from multiple regions, including China.
  • Raw material price volatility is managed through mechanisms such as surcharges and index-based adjustments.
  • Availability and cost of energy resources (electricity, natural gas, oil) are material considerations for operations.

Intellectual property and technology

  • ATI holds hundreds of U.S. patents and other IP rights supporting its materials science and advanced manufacturing processes.
  • The company has added capabilities in additive manufacturing and post-processing for aerospace & defense applications.

Governance and disclosure

  • Public disclosures and investor information are available via ATI’s website and SEC filings.
  • ATI maintains a cybersecurity program aligned with the NIST framework and governance oversight by the Board.

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