Shares of ATI Inc (ATI) surged 9.20% in pre-market trading on Tuesday following the company's release of better-than-expected third-quarter earnings results and a positive outlook for the fourth quarter.

The specialty materials and components manufacturer reported adjusted earnings per share of $0.85 for the third quarter, significantly surpassing the analyst consensus estimate of $0.74. While revenue came in slightly below expectations at $1,125.5 million compared to the estimated $1,129 million, the strong bottom-line performance appeared to outweigh this minor shortfall.

ATI's adjusted EBITDA for the quarter stood at an impressive $225.1 million, indicating robust operational efficiency. Adding to the positive sentiment, the company provided an optimistic forecast for the fourth quarter, guiding for adjusted earnings per share between $0.84 and $0.90. This outlook suggests continued strong performance and profitability heading into the end of the year, likely contributing to investor enthusiasm and the subsequent stock price jump.