secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL STAINLESS & ALLOY PRODUCTS INC (—)
CIK:        0000931584
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001437749-24-014076
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/931584/000143774924014076/0001437749-24-014076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/931584/000143774924014076/usap20240412_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-014076

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