Service Centers
August 4, 2020
ATI Posts Loss in Q2, Looks Forward to 2021
Written by Sandy Williams
Allegheny Technologies, Inc., posted a net loss of $422.6 million for the second quarter, but feels poised to emerge from the COVID-19 crisis stronger than ever. Revenue slipped 26 percent year-over-year to $770 million.
ATI generated between $140 million and $160 million in cost reductions through efficiency measures, right-sizing workforce and reducing working capital. The company expects 40 to 50 percent of cost structure savings to be permanent.
