Universal Stainless & Alloy Products, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 06:45 am EDT
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Universal Stainless & Alloy Products, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 69.02 million compared to USD 52.16 million a year ago. Net income was USD 0.895 million compared to net loss of USD 1.44 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to diluted loss per share from continuing operations of USD 0.16 a year ago.
For the six months, sales was USD 134.88 million compared to USD 99.72 million a year ago. Net income was USD 0.383 million compared to net loss of USD 3.05 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to diluted loss per share from continuing operations of USD 0.34 a year ago.
Universal Stainless & Alloy Products, Inc. is engaged in manufacturing and marketing semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other premium alloyed steels. Its manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels. It produces a variety of specialty steel grades using several manufacturing processes including vacuum induction melting (VIM), vacuum-arc remelting (VAR), electro-slag remelting (ESR) and argon oxygen decarburization (AOD). Its products are sold to service centers, forgers, rerollers and original equipment manufacturers (OEMs). Its customers further process its products for use in a variety of industries, including the aerospace, power generation, oil and gas, heavy equipment and general industrial markets. It also performs conversion services on materials supplied by customers.
UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC. 
