re TIE,
I'm just tickled pink to see return of my capital, much less earn some lunch money.
Got in too early with RTI. Thanks to your efforts over the past few years (and some discipline from Mr Market), I adopted a scale in/out approach. That allowed positive results in RTI despite some timing errors.
ATI and CRS may have some overlap. ATI reported a day or two before CRS this quarter, and there was some concern about low cost commodity stainless imports impacting margins.
Funny thing, is that CRS took off on their earnings report, even though stainless represents 50% of their sales. Mr Market paid more attention to the positive forward looking profit picture resulting from speciality metals and Boeing exposure than the risk implied by weaker stainless pricing.
Now, ATI makes speciality metals too, and I believe they too are exposed to improved Boeing sales. Their call was more conservative, and their share price barely budged on earnings. Being larger, improved Ti pricing or demand from Boeing may not impact the bottom line to the same extent as the smaller cap guys.
Just a couple of months, and 3rd Qtr results should tell the tale. Quite likely that all four companies will do well. |
