Universal Stainless reports record 2023 sales $285.9M, net income $4.9M, strong aerospace demand

UNIVERSAL STAINLESS & ALLOY PRODUCTS INC

Full-year 2023 sales $285.9M (+42% YoY); net income $4.9M ($0.53 diluted EPS) vs loss of $8.1M in 2022.
Q4 sales $79.8M (record); gross margin 16.4% (highest since Q2 2018) despite $1.6M raw material headwind.
Premium alloy sales $68.1M in 2023 (+74% YoY); aerospace sales $216.1M (+57%), driving record mix.
Backlog $318.2M with premium alloys 36%; two new VAR furnaces qualified and released into production.
Total debt reduced to $85.6M from $98.4M at end-2022; managed working capital down to $148.1M.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL STAINLESS & ALLOY PRODUCTS INC reported preliminary financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: preliminary results

Exact text from the filing

On March 28, 2024, Universal Stainless & Alloy Products, Inc. (the “Company”) issued a press release including, among other things, certain preliminary financial information for the Company’s quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001437749-24-009703

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