ATI Prices $450 Million Senior Notes Offering Due in 2033

ATI Inc. ATI has announced the pricing of a public offering of $450 million in aggregate principal amount of 5.875% Senior Notes due June 15, 2033. The notes will pay interest semi-annually in arrears.The company plans to use approximately $350 million of the net proceeds to redeem all outstanding 5.875% Senior Notes due 2027. Remaining proceeds will be allocated for general corporate purposes.The offering is being made under an effective shelf registration statement and will be available through a prospectus supplement and accompanying prospectus. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as joint book-running managers and co-global coordinators for the transaction.ATI ended the first quarter with cash and cash equivalents of $401.7 million compared with $416.7 million at the end of 2025. The company’s cash position reflected the combination of higher operating cash generation and continued capital returns, alongside typical working-capital movements. Long-term debt totaled $1,794.7 million at quarter end, up from $1,718.3 million at the end of 2025. The notes offering is expected to improve ATI’s financial flexibility.ATI lifted full-year expectations following the first-quarter performance. For the second quarter of 2026, ATI expects adjusted EBITDA of $245-$255 million and adjusted earnings of 98 cents-$1.04 per share. For full-year 2026, adjusted EBITDA is now expected to be in the range of $1,010-$1,060 million, up from the prior $975-$1,025 million view. Adjusted earnings guidance was raised to $4.20-$4.48 per share from $3.99-$4.27 previously, alongside a higher adjusted free cash flow outlook of $465-$525 million versus the prior $430-$490 million range.ATI has gained 117.4% over the past year compared with the industry’s 23.8% growth.Image Source: Zacks Investment ResearchATI’s Zacks Rank & Other Key PicksATI currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the Basic Materials space are CF Industries Holdings, Inc. CF, Albemarle Corporation ALB and Avino Silver & Gold Mines Ltd. ASM.While CF and ALB sport a Zacks Rank #1 (Strong Buy) each at present, ASM carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for CF’s 2026 earnings is pegged at $17.57 per share, indicating a rise of 87.51% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 11.42%. CF’s shares have soared 26.4% over the past year.The Zacks Consensus Estimate for ALB’s 2026 earnings is pinned at $12.39 per share, indicating a 1,668.35% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average surprise of 74.5%. ALB’s shares have jumped 187% over the past year.The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 39 cents per share, indicating a 34.48% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the four trailing quarters, with an average earnings surprise of 91.5%.Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks