secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL STAINLESS & ALLOY PRODUCTS INC (—)
CIK:        0000931584
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001437749-24-009703
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/931584/000143774924009703/0001437749-24-009703-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/931584/000143774924009703/usap20240130_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-009703

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