125  0 Kommentare Universal Stainless Business Update Call and Webcast Scheduled for Today, January 24th

Among the highlights to be discussed on today’s call, the Company plans to report that total sales for the fourth quarter of 2023 approximated a record $78 million to $80 million. That compares with $71.3 million in the 2023 third quarter and $56.2 million in the fourth quarter of 2022. Full year 2023 sales are expected to approximate a record $284 million to $286 million versus $202.1 million in 2022. Premium alloy sales for the fourth quarter of 2023 are expected to range from a record $20 million to $21 million. The Company’s top line results continued to be driven by robust demand in the aerospace market. Backlog at the end of 2023 remained at a healthy level of $318 million.

Additionally, the Company plans to report that total debt was reduced by approximately $4 million in the fourth quarter and approximately $13 million for full year 2023.

Christopher M. Zimmer, President and Chief Executive Officer, commented: “We look forward to providing an update on our markets and share certain financial metrics on today’s call, in advance of our earnings report in March.”

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The financial results reported in this release are a preliminary estimate, based on information available to the Company’s management as of the date of this release, and are subject to further changes upon completion of the Company’s standard quarter and year-end closing procedures. This release does not present all necessary information for an understanding of the Company’s financial condition as of the date of this release, or its results of operations for the fourth quarter and full year ended December 31, 2023. As the Company completes its year-end financial close process and finalizes its financial statements for the full year, it will be required to make significant judgments in a number of areas. It is possible that the Company may identify items that require it to make adjustments to the preliminary financial information set forth in this release, and those changes could be material. The Company does not intend to update such financial information prior to release of its final fourth quarter and full year financial information, which it expects to provide in March 2024.