![]() ![]() Lower sequential corporate expenses in 2022 were primarily related to benefits from corporate owned life insurance.Ĭlosed operations and other expenses were $6.3 million for the third quarter 2022, compared to $5.1 million in the second quarter 2022 and $1.4 million in the prior year quarter. Prior year results also included a $13.7 million gain on the sale of the Flowform Products business.Ĭorporate expenses in the third quarter 2022 were $14.2 million, compared to $16.7 million in the second quarter 2022, and $12.9 million for the prior year quarter. Third quarter 2021 results included a $64.9 million gain related to a plan termination that eliminated certain postretirement medical benefit liabilities. Second quarter and nine months' 2022 results include $115.9 million and $141.0 million, respectively, of non-cash losses on the sale of the Sheffield, UK operations. Results for the third quarter of 2021 include $22.9 million of strike-related costs, primarily affecting the AA&S segment, which were excluded from segment and ATI adjusted EBITDA. Restructuring credits of $2.6 million were also recognized in the third quarter 2022 related to reversals of previously-recognized reserves, due to lower than expected severance-related costs. ![]() Restructuring and other charges in the third quarter 2022 included $19.9 million in connection with the settlement of litigation related to the 2016 indefinite idling of the Rowley, UT titanium sponge production facility. Prior year AA&S results exclude $21.5 million of strike-related costs. Second quarter 2022 AA&S results included a $9.9 million benefit from the A&T Stainless joint venture's settlement of Section 232 claims. Compared to the second quarter 2022, a weaker mix of nickel-alloy mill products, declining raw material surcharges and lower utilization rates resulting from our annually planned, six-week maintenance outage at our Specialty Alloys & Components business resulted in lower margins in the third quarter 2022. Sales at our Asian precision rolled strip business continue to be negatively impacted by Covid-related market interruptions.ĪA&S segment EBITDA was $75.8 million, or 13.2% of sales. Third quarter sales to the energy markets were in-line with the second quarter 2022. Compared to the second quarter 2022, sales to the aerospace and defense markets were 30% higher, led by demand for commercial airframe products. Third quarter 2021 was impacted by a strike at our Specialty Rolled Products business, which largely returned to normal operations by end of the prior year quarter. AA&S third quarter 2022 sales increased 2% compared to the second quarter 2022 and increased 35% compared to the prior year quarter. ![]()
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