---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-014076"
form_type: "8-K"
ticker: null
cik: "0000931584"
company_name: "UNIVERSAL STAINLESS & ALLOY PRODUCTS INC"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:48:27.918531+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-014076
- form_type: 8-K
- cik: 0000931584
- company_name: UNIVERSAL STAINLESS & ALLOY PRODUCTS INC
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/931584/000143774924014076/0001437749-24-014076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/931584/000143774924014076/usap20240412_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-014076
- JSON: https://secwatch.observer/filing/0001437749-24-014076.json
- Plain text: https://secwatch.observer/filing/0001437749-24-014076.txt

## Key facts
- Earnings Releases
  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
  source text: Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today reported net sales of $77.6 million for the first quarter of 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/931584/000143774924014076/0001437749-24-014076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.