secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL STAINLESS & ALLOY PRODUCTS INC (—)
CIK:        0000931584
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001193125-23-194129
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 4.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Universal Stainless posts Q2 net income of $0.9M; sales up 32% YoY; auditor changed to Baker Tilly
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- Q2 net income $0.9M ($0.10/diluted) vs net loss of $0.5M in Q1 and $1.4M loss in Q2 2022.
- Sales $69.0M, up 5% sequentially and 32% YoY; gross margin $9.8M (14.3% of sales).
- Premium alloy sales $12.9M (18.6% of total); aerospace sales $51.3M (74.3% of total).
- Backlog $355M (down from record $366M but up 59% YoY); total debt reduced to $93.3M.
- Auditor changed to Baker Tilly after Schneider Downs resigns; no disagreements or reportable events.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/931584/000119312523194129/0001193125-23-194129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/931584/000119312523194129/d505913d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-194129

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer