Haynes Q2 net income $8.6M ($0.66 EPS) down from $12.3M; raw material headwind persists; merger on track

HAYNES INTERNATIONAL INC

2024-Q2 EPS reported $1.26 revenue$299,815,000

Net revenues $152.5M flat YoY; net income $8.6M ($0.66 diluted EPS) vs $12.3M ($0.96) last year.
Gross margin 17.7% (adjusted 21.2%) compressed by $5.3M raw material headwind from nickel/cobalt.
Aerospace volume +8.9% YoY, IGT volume +19.5%; combined >83% of shipments; CPI volume -41.8%.
Backlog $438.6M, down 1.8% YoY; capital spending FY24 estimated $22-28M.
Dividend $0.22/share declared; Acerinox merger at $61/share, shareholder approved, closing expected Q3 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HAYNES INTERNATIONAL INC reported second quarter of fiscal 2024 ended March 31, 2024 results: revenue $152.5 million, net income $8.6 million, EPS $0.66 diluted earnings per share.

Period: second quarter of fiscal 2024 ended March 31, 2024
Revenue: $152.5 million
Net income: $8.6 million
EPS: $0.66 diluted earnings per share
Result: reported results

Exact text from the filing

Haynes International, Inc. 765-456-6102 HAYNES INTERNATIONAL, INC. REPORTS SECOND QUARTER FISCAL 2024 FINANCIAL RESULTS ● Second quarter net revenues of $152.5 million with improving production momentum after last quarter’s three week unplanned outage at the 4-high hot rolling mill in the Kokomo plant. This compares to $147.4 million in the

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Source: SEC EDGAR

accession 0001558370-24-007599

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