Universal Stainless Reports First Quarter 2020 Results
Universal Stainless & Alloy Products, Inc. (USAP)
Last universal stainless & alloy products, inc. earnings: 4/22 06:45 am
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univstainless.com
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Source: GlobeNewswire
Q1 2020 Sales total $58.5 million; Aerospace sales rise 12.7% sequentiallyQ1 2020 Net Loss of $1.4 million, or $0.16 per diluted share EBITDA totals $4.0 million in Q1 2020 Quarter-end Backlog of $110.7 million versus $119.1 million at end of Q4 2019 BRIDGEVILLE, Pa., April 22, 2020 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today reported that net sales for the first quarter of 2020 were $58.5 million, an increase of 6.0% from $55.2 million in the fourth quarter of 2019, and 2.9% lower than $60.3 million in the first quarter of 2019. Chairman, President and CEO Dennis Oates commented: “Amidst growing dislocation in several of our end markets, there were some bright spots in our top-line performance in the first quarter with net sales up 6.0% from the 2019 fourth quarter along with 12.7% sequential growth in our aerospace market sales. Additionally, tool steel sales continued to recover, increasing 30.0% from the fourth quarter of 2019. Thes
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