Bridgeville Pennsylvania headquartered Universal Stainless & Alloy Products Inc has reported that net sales for the first quarter of 2022 were USD 47.6 million, an increase of 10.0% from USD 43.2 million in the fourth quarter of 2021 and 28.4% higher than net sales of USD 37.0 million in the first quarter of 2021. Sales of premium alloys increased 26.9% in the first quarter of 2022 to USD 8.9 million, or 18.8% of sales, compared with USD 7.0 million or 16.3% of sales, in the fourth quarter of 2021. The net loss for the first quarter of 2022 was USD 1.6 million as compared with a net loss of USD 1.6 million in the fourth quarter of 2021. The Company’s EBITDA for the first quarter of 2022 was USD 3.8 million while adjusted EBITDA was USD 4.2 million. Universal Stainless & Alloy Products Chairman, President & CEO Mr Dennis Oates said “Recovery in aerospace demand continued in the first quarter, which included a 17% sequential increase in aerospace sales and a 27% increase in premium alloys. Our year-over-year sales to aerospace customers were up 35% from the first quarter of 2021. Aerospace demand drove the exceptional growth in our backlog, which rose by more than USD 67 million, or 50%, from the record fourth quarter of 2021, to reach a new record of USD 201.8 million at March 31, 2022. A full 25% of that backlog consisted of premium alloys, mainly for aerospace applications. Recovery in aerospace demand is being driven by increasing airplane build rates and expanding order books at airplane manufacturers, supported by the accelerating come-back in air traffic, as COVID-related travel restrictions have eased in many parts of the world.” Universal Stainless produces semi-finished and finished specialty steel long products and plate including stainless steel, tool steel, bearing steel, gear steel and aircraft quality low alloy steels. These can be manufactured into a wide variety of grades and product forms.
Bridgeville Pennsylvania headquartered Universal Stainless & Alloy Products Inc has reported that net sales for the first quarter of 2022 were USD 47.6 million, an increase of 10.0% from USD 43.2 million in the fourth quarter of 2021 and 28.4% higher than net sales of USD 37.0 million in the first quarter of 2021. Sales of premium alloys increased 26.9% in the first quarter of 2022 to USD 8.9 million, or 18.8% of sales, compared with USD 7.0 million or 16.3% of sales, in the fourth quarter of 2021. The net loss for the first quarter of 2022 was USD 1.6 million as compared with a net loss of USD 1.6 million in the fourth quarter of 2021. The Company’s EBITDA for the first quarter of 2022 was USD 3.8 million while adjusted EBITDA was USD 4.2 million. Universal Stainless & Alloy Products Chairman, President & CEO Mr Dennis Oates said “Recovery in aerospace demand continued in the first quarter, which included a 17% sequential increase in aerospace sales and a 27% increase in premium alloys. Our year-over-year sales to aerospace customers were up 35% from the first quarter of 2021. Aerospace demand drove the exceptional growth in our backlog, which rose by more than USD 67 million, or 50%, from the record fourth quarter of 2021, to reach a new record of USD 201.8 million at March 31, 2022. A full 25% of that backlog consisted of premium alloys, mainly for aerospace applications. Recovery in aerospace demand is being driven by increasing airplane build rates and expanding order books at airplane manufacturers, supported by the accelerating come-back in air traffic, as COVID-related travel restrictions have eased in many parts of the world.” Universal Stainless produces semi-finished and finished specialty steel long products and plate including stainless steel, tool steel, bearing steel, gear steel and aircraft quality low alloy steels. These can be manufactured into a wide variety of grades and product forms.
