Oak Brook Illinois based US steel tube maker & specialty chemicals supplier Synalloy has reported 40% YoY & 283% YoY surge in revenue & income in April-June 2022 quarter. Synalloy President & CEO Mr Chris Hutter said “After a strong start to the year, we sustained our momentum and generated a fifth consecutive quarter of year-over-year growth across the top and bottom line. We continued to make progress on our transformation efforts through diversifying our supply chain, widening our sales funnel, and steadily growing our footprint and manufacturing capacity. In our metals segment, or what we will be referring to as tubular products going forward, we added new international suppliers which strengthened and diversified our supply chain network, resulting in lower lead times and incremental margin improvements.”Net sales in the metals segment in second quarter of 2022 increased 28% to USD 87.2 million compared to USD 68.1 million in the second quarter of 2021. Operating income in the second quarter increased 72% to USD 12.9 million compared to USD 7.5 million in the prior year period. Adjusted EBITDA in the second quarter increased 46% to USD 14.7 million compared to USD 10.1 million in the prior year period. As a percentage of segment net sales, adjusted EBITDA improved 210 basis points to 16.9% compared to 14.8% in the second quarter of 2021.Synalloy’s metal business comprises ofBrismetSpecialty Pipe & TubeAmerican Stainless TubingBrismet is manufacturer of welded pipe, from stainless steel and other nickel alloys. With the combined strength of two plants, Bristol Metals provides customers with diverse products and process offerings for welded pipe and tube. We meet customers’ most challenging requests while delivering the highest-quality product in a timely manner. Products include welded stainless, nickel alloy, 6% moly, duplex, super duplex pipe and tube. It has 280,000-square-foot Munhall facility, located outside Pittsburgh in Pennsylvania, offers a diverse product line including pipe, tubing and ornamental stainless steel products, as well as galvanized rounds and shapes. Serving customers since 1965, the 190,000-square-foot Bristol plant, located in Northeast Tennessee, produces larger diameter welded pipe and tube, diverse alloy offerings and many of the same products made in Munhall. Both facilities feature in-house testing, giving us the ability to produce a broad range of specifications and provide optional customer testing requirements.Specialty Pipe & Tube is the country’s premier distributor for hot finish seamless, carbon steel pipe and mechanical tubing. Specialty Pipe & Tube focuses on unusually large outside diameters with exceptionally heavy wall thicknesses and serves as a critical link between long lead times of producing mills and the immediate demands of the industrial manufacturing base and energy markets in North America. Established in 1964, Specialty Pipe & Tube operates facilities in Ohio and Texas, strategically placed to optimally serve its core markets. Both facilities maintain prime, fully certified AML inventory, automatic cutting and processing equipment, as well as knowledgeable and responsive sales personnel. Most inquiries are answered within minutes and most orders are shipped within 24 hours, if not the same day.American Stainless Tubing strives to make the best ornamental tubing in the industry. From two locations conveniently located near the Intersection of I-40 and I-77, our finishing equipment allows us to produce a finished steel tube at a quality others rarely achieve..
Oak Brook Illinois based US steel tube maker & specialty chemicals supplier Synalloy has reported 40% YoY & 283% YoY surge in revenue & income in April-June 2022 quarter. Synalloy President & CEO Mr Chris Hutter said “After a strong start to the year, we sustained our momentum and generated a fifth consecutive quarter of year-over-year growth across the top and bottom line. We continued to make progress on our transformation efforts through diversifying our supply chain, widening our sales funnel, and steadily growing our footprint and manufacturing capacity. In our metals segment, or what we will be referring to as tubular products going forward, we added new international suppliers which strengthened and diversified our supply chain network, resulting in lower lead times and incremental margin improvements.”Net sales in the metals segment in second quarter of 2022 increased 28% to USD 87.2 million compared to USD 68.1 million in the second quarter of 2021. Operating income in the second quarter increased 72% to USD 12.9 million compared to USD 7.5 million in the prior year period. Adjusted EBITDA in the second quarter increased 46% to USD 14.7 million compared to USD 10.1 million in the prior year period. As a percentage of segment net sales, adjusted EBITDA improved 210 basis points to 16.9% compared to 14.8% in the second quarter of 2021.Synalloy’s metal business comprises ofBrismetSpecialty Pipe & TubeAmerican Stainless TubingBrismet is manufacturer of welded pipe, from stainless steel and other nickel alloys. With the combined strength of two plants, Bristol Metals provides customers with diverse products and process offerings for welded pipe and tube. We meet customers’ most challenging requests while delivering the highest-quality product in a timely manner. Products include welded stainless, nickel alloy, 6% moly, duplex, super duplex pipe and tube. It has 280,000-square-foot Munhall facility, located outside Pittsburgh in Pennsylvania, offers a diverse product line including pipe, tubing and ornamental stainless steel products, as well as galvanized rounds and shapes. Serving customers since 1965, the 190,000-square-foot Bristol plant, located in Northeast Tennessee, produces larger diameter welded pipe and tube, diverse alloy offerings and many of the same products made in Munhall. Both facilities feature in-house testing, giving us the ability to produce a broad range of specifications and provide optional customer testing requirements.Specialty Pipe & Tube is the country’s premier distributor for hot finish seamless, carbon steel pipe and mechanical tubing. Specialty Pipe & Tube focuses on unusually large outside diameters with exceptionally heavy wall thicknesses and serves as a critical link between long lead times of producing mills and the immediate demands of the industrial manufacturing base and energy markets in North America. Established in 1964, Specialty Pipe & Tube operates facilities in Ohio and Texas, strategically placed to optimally serve its core markets. Both facilities maintain prime, fully certified AML inventory, automatic cutting and processing equipment, as well as knowledgeable and responsive sales personnel. Most inquiries are answered within minutes and most orders are shipped within 24 hours, if not the same day.American Stainless Tubing strives to make the best ornamental tubing in the industry. From two locations conveniently located near the Intersection of I-40 and I-77, our finishing equipment allows us to produce a finished steel tube at a quality others rarely achieve..
