Haynes International, Inc. announced that current full year expectations for fiscal 2023 include revenue growth of 15%-20% and earnings growth at approximately 20% compared to fiscal year 2022. The company's record backlog and fourth-quarter performance provide the foundation for these estimates. The first fiscal quarter is typically lowest revenue and earnings quarter due to holidays, planned maintenance projects and customers managing their calendar year end balance sheets.

In addition, in first quarter of fiscal year 2023, the impact of raw materials is projected to turn into an unfavorable headwind, then neutralize for the balance of the fiscal year assuming relatively flat raw material prices. Given these factors, earnings per diluted share is projected to be roughly $0.55-$0.70 in the first quarter of fiscal 2023, which would represent the best first quarter results in a decade and compares favorably to the $0.37 in the first quarter of fiscal 2022.