ATI, Inc. (NYSE:ATI) Q2 2022 Earnings Conference Call August 4, 2022 10:30 AM ET

Company Participants

Scott Minder - VP, Treasurer & IR

Bob Wetherbee - Board Chair, President & CEO

Don Newman - EVP & CFO

Conference Call Participants

Richard Safran - Seaport Research Partners

Phil Gibbs - KeyBanc

Seth Seifman - JPMorgan

Gautam Khanna - Cowen

David Strauss - Barclays

Paretosh Misra - Berenberg

Josh Sullivan - The Benchmark Company

Operator

Welcome to the ATI Q2 2022 Earnings Call. My name is Ruby, and I'll be your moderator for today's call. [Operator Instructions]

I will now hand over to the team to begin the presentation.

Scott Minder

Thank you. Good morning, and welcome to ATI's second quarter 2022 earnings call. Today's discussion is being broadcast on our website.

Participating in today's call are Bob Wetherbee, Board Chair, President and CEO; and Don Newman, Executive Vice President and CFO. Bob and Don will focus on our second quarter highlights and key messages. A supplemental presentation is available on our website. It provides additional color and details on our results and outlooks. After our prepared remarks, we'll open the line for questions.

As a reminder, all forward-looking statements are subject to various assumptions and caveats. These are noted in the earnings release and in the slide presentation.

Now, I'll turn the call over to Bob.

Bob Wetherbee

Thanks, Scott. Good morning and thanks for joining us.

After many quarters of saying, we're preparing for the ramp, the time has come and I can say with confidence today that we are ramped. Our core markets, namely, aerospace, defense and energy, are accelerating. That's largely due to end customer demand, technology shifts, and geopolitical events.

Across our asset base, production is increasing to match this demand. This is what we plan for. We're ready and it feels great. Admittedly, we're in the early phases of this ramp, but we're confident we're positioned in moving forward. I'm not going to say it's easy. We're operating in challenging circumstances, labor markets are tight, and per costs are rising with inflation a global issue. Supply chain are fragile after two years of pandemic reshuffling.

Just like during the pandemic we're laser-focused on what matters most. I'm proud how our team is responding. We worked hard to be on track or ahead to fill open positions.

We're offsetting inflation with cost reduction initiatives and dynamic pricing. Our operations are producing and delivering high-quality parts and materials in a timely manner. But we are not perfect; we strive for perfection every day at every site. We owe it to our customers and they appreciate our efforts.