Universal Stainless Q1 net income $4.1M ($0.43 EPS), sales $77.6M, gross margin 18.9%, backlog $325M

UNIVERSAL STAINLESS & ALLOY PRODUCTS INC

2024-Q1 EPS reported $0.43 revenue$77,637,000

Q1 2024 sales $77.6M (second highest), up 18% vs Q1 2023; premium alloy sales $20.1M (25.9% of sales).
Net income $4.1M ($0.43 diluted EPS), up 59% from Q4 2023; operating income rose 51% to $7.3M.
Gross margin 18.9% of sales—highest since Q1 2012—despite $1.3M raw material headwind.
Aerospace sales $60.2M (77.5% of sales); backlog $325.1M, up from $318.2M at year-end; avg selling price per pound up 19% YoY.
Cash from ops $10.3M; total debt reduced $4.3M to $81.2M; FY2024 capex expected ~$18M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

UNIVERSAL STAINLESS & ALLOY PRODUCTS INC reported the quarter ended March 31, 2024 results: revenue $77.6 million, net income $4.1 million, EPS $0.43 per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $77.6 million
Net income: $4.1 million
EPS: $0.43 per diluted share
Result: reported results

Exact text from the filing

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today reported net sales of $77.6 million for the first quarter of 2024

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Source: SEC EDGAR

accession 0001437749-24-014076

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