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Allegheny Technologies Inc. (ATIP) Stock Exhibits Minor Volatility Following Guidance Report for Q3 2021

ATI Physical Therapy Inc. (ATIP) stock prices were up by 2.24% as of the market closing on October 19th, 2021. This brought the price per share up to USD$3.65. Subsequent aftermarket fluctuations have seen the stock dip by 15.07%, bringing it down to USD$3.10.

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ATIP Stock’s Guidance

October 19th, 2021 saw ATIP announce that it expects revenues in the amount of roughly USD$159 million for the third quarter of fiscal 2021. Income before taxes is expected to come in at USD$147 million, contingent on the completion of final financial and accounting procedures, including an assessment of any potential asset impairments. Adjusted EBITDA for the third quarter of fiscal 2021 is expected to be roughly USD$8 million. To consolidate these promising forecasts, the company has implemented targeted measures to reduce the attrition of clinical staff. The company has also taken steps to ensure an improvement in clinical full-time equivalent (FTE) growth over the course of the last two months of the third quarter of fiscal 2021.

Improving Numbers

The third quarter of fiscal 2021 saw ATIP stock making progress towards the restoration of FTEs. This development was largely motivated by the hiring of roughly 2 clinicians for every 1 departure in August and September of 2021. This is comparable to the second quarter of fiscal 2021, which came out to a ratio of approximately 1-to-1. Visit volume for the quarter came in at 20,674 average visits per day. This is comparable to the 21,569 average visits per day reported in the second quarter of fiscal 2021, representing 1 less Visit per Day per Clinic.

Building on Success

The company is continuing to focus on the labor market dynamics while also facilitating improvements in visit volume growth. This will be achieved by enhancing field relationship and referral networks to strategically position ATIP stock to capitalize on long-term growth opportunities. The company’s visit growth will be facilitated by investing in it field of sales force. As of September 30th, 2021, the company reported a strong liquidity position of USD$135 million.

Future Outlook for ATIP Stock

ATIP stock is keen to maintain the momentum generated over the course of the quarter, as evidenced by their financial guidance report. The company is poised to capitalize on the opportunities afforded to it as it consolidates its market footprint in the healthcare sector. Current and potential investors are confident in management’s ability to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.

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