Allegheny Technologies Incorporated and Subsidiaries | |||||||||||||||||||
Sales and EBITDA by Business Segment | |||||||||||||||||||
(Unaudited, dollars in millions) | |||||||||||||||||||
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| Three Months Ended |
| Six Months Ended | ||||||||||||||||
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| June 30 |
| March 31 |
| June 30 |
| June 30 |
| June 30 | ||||||||||
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| 2021 |
| 2021 |
| 2020 |
| 2021 |
| 2020 | ||||||||||
Sales: |
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High Performance Materials & Components | $ | 300.6 |
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| $ | 240.9 |
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| $ | 300.7 |
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| $ | 541.5 |
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| $ | 721.0 |
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Advanced Alloys & Solutions | 315.6 |
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| 451.6 |
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| 469.6 |
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| 767.2 |
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| 1,004.8 |
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Total external sales | $ | 616.2 |
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| $ | 692.5 |
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| $ | 770.3 |
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| $ | 1,308.7 |
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| $ | 1,725.8 |
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EBITDA: |
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High Performance Materials & Components | $ | 37.2 |
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| $ | 24.6 |
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| $ | 28.7 |
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| $ | 61.8 |
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| $ | 105.3 |
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% of Sales | 12.4 | % |
| 10.2 | % |
| 9.5 | % |
| 11.4 | % |
| 14.6 | % | |||||
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| Advanced Alloys & Solutions | 36.0 |
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| 49.7 |
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| 33.4 |
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| 85.7 |
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| 74.5 |
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| % of Sales | 11.4 | % |
| 11.0 | % |
| 7.1 | % |
| 11.2 | % |
| 7.4 | % | |||||
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| Total segment EBITDA | 73.2 |
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| 74.3 |
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| 62.1 |
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| 147.5 |
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| 179.8 |
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| % of Sales | 11.9 | % |
| 10.7 | % |
| 8.1 | % |
| 11.3 | % |
| 10.4 | % | |||||
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| LIFO and net realizable value reserves | — |
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| — |
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| — |
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| — |
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| — |
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| Corporate expenses | (15.9) |
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| (12.2) |
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| (7.2) |
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| (28.1) |
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| (19.5) |
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| Closed operations and other income (expense) | (3.6) |
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| 0.5 |
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| 2.7 |
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| (3.1) |
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| (3.6) |
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| Total ATI Adjusted EBITDA | $ | 53.7 |
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| $ | 62.6 |
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| $ | 57.6 |
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| $ | 116.3 |
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| $ | 156.7 |
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| Depreciation & amortization (a) | (36.3) |
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| (36.1) |
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| (35.6) |
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| (72.4) |
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| (72.9) |
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| Interest expense, net | (23.7) |
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| (23.4) |
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| (21.7) |
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| (47.1) |
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| (43.6) |
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| Restructuring and other credits (charges) | 6.2 |
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| — |
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| (16.7) |
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| 6.2 |
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| (24.7) |
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| Strike related costs | (40.3) |
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| — |
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| — |
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| (40.3) |
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| — |
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| Impairment goodwill | — |
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| — |
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| (287.0) |
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| — |
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| (287.0) |
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| Joint venture restructuring charge | — |
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| — |
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| (2.4) |
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| — |
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| (2.4) |
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| Debt extinguishment charge | — |
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| — |
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| (21.5) |
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| — |
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| (21.5) |
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| Gains on asset sales, net | — |
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| — |
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| — |
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| — |
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| 2.5 |
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| Income (loss) before income taxes | $ | (40.4) |
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| $ | 3.1 |
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| $ | (327.3) |
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| $ | (37.3) |
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| $ | (292.9) |
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| (a) The following is depreciation & amortization by each business segment: |
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| Three Months Ended |
| Six Months Ended | ||||||||||||||||
|
| June 30 |
| March 31 |
| June 30 |
| June 30 |
| June 30 | ||||||||||
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| 2021 |
| 2021 |
| 2020 |
| 2021 |
| 2020 | ||||||||||
| High Performance Materials & Components | $ | 19.2 |
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| $ | 19.6 |
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| $ | 19.5 |
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| $ | 38.8 |
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| $ | 39.0 |
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| Advanced Alloys & Solutions | 16.1 |
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| 15.5 |
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| 15.3 |
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| 31.6 |
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| 32.3 |
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| Other | 1.0 |
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| 1.0 |
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| 0.8 |
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| 2.0 |
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| 1.6 |
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| $ | 36.3 |
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| $ | 36.1 |
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| $ | 35.6 |
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| $ | 72.4 |
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| $ | 72.9 |
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