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Haynes International, Inc. - HAYN STOCK NEWS

Welcome to our dedicated page for Haynes International news (Ticker: HAYN), a resource for investors and traders seeking the latest updates and insights on Haynes International stock.

Haynes International, Inc. (symbol: HAYN) is a prominent developer, manufacturer, and distributor of high-performance alloys. These alloys, primarily branded as Hastelloy® and Haynes®, are engineered for use in high-temperature and corrosion-resistant applications. The company serves critical markets such as aerospace, chemical processing, and industrial gas turbines.

Founded in 1912 in Kokomo, Indiana, Haynes International boasts over a century of continuous operation. This long history includes significant contributions to the development of nickel- and cobalt-based superalloys, which have been utilized in a variety of historical and modern applications, from world wars to space exploration missions, and even the restoration of the Statue of Liberty.

Alloy development is central to Haynes International's mission. Since the fiscal year 2000, the company's technical programs have introduced nine new proprietary alloys. Of these, five are currently available commercially, while four are being scaled up for market introduction. This relentless focus on innovation underscores the company's commitment to meeting the evolving demands of its diverse clientele.

Financially, Haynes International operates in a single segment dedicated to the design, manufacture, marketing, and distribution of technologically advanced, high-performance alloys. The company derives most of its revenue from the United States, with substantial market presence in Europe, China, and other regions.

Additionally, Haynes International's highly-trained staff and cutting-edge facilities enable it to maintain a leading position in its industry. By continuously improving its processes and expanding its product offerings, the company ensures it remains at the forefront of alloy technology and meets the stringent requirements of its customers.

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Haynes International (NASDAQ: HAYN) has appointed Marlin C. Losch III as the new Chief Operating Officer, effective July 1. Losch, who has been with Haynes for over 35 years, will oversee all commercial and operational activities. He previously served as Vice President of Sales and Distribution.

The company is also searching for Losch’s replacement in his former role, with a transition period ensured. Additionally, David L. Strobel, Vice President of Kokomo Operations, will retire in early 2025 after six years with the company. Haynes is seeking a successor for Strobel, who will aid in the transition to new leadership.

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Haynes International has secured CFIUS approval for its planned merger with North American Stainless, expected to close in Q4 2024. The merger, initially announced on February 4, 2024, involves North American Stainless' parent company, Acerinox S.A., and a subsidiary, Warhol Merger Sub. The deal will see Haynes becoming a wholly owned subsidiary of North American Stainless. While most regulatory approvals have been obtained, the merger still requires clearance from UK and Austrian authorities.

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Haynes International, Inc. reported second-quarter fiscal 2024 net revenues of $152.5 million, with solid growth in aerospace and industrial gas turbine markets. Gross margin of 17.7% was impacted by raw material costs. Net income was $8.6 million. Backlog decreased by 1.8% year-over-year to $438.6 million. Capital investment for fiscal 2024 estimated at $22-28 million. The Company declared a cash dividend of $0.22 per share. Merger with North American Stainless pending completion in the third quarter. Net income decreased by $3.8 million year-over-year, impacted by raw material costs.

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Haynes International, Inc. (HAYN) reported first quarter net revenues of $147.4 million, a company record despite a three-week unplanned outage at the 4-high hot rolling mill in the Kokomo plant. Gross margin was 16.8% of revenue, and net income was $7.7 million, or $0.60 per diluted earnings per share. The backlog was $448.8 million as of December 31, 2023, up 9.9% year-over-year. The company declared a regular quarterly cash dividend of $0.22 per outstanding share of the Company’s common stock.
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Haynes International, Inc. (NASDAQ GM:HAYN) has entered into a definitive agreement to be acquired by North American Stainless, a wholly owned subsidiary of Acerinox, in an all-cash transaction valuing the Company at an enterprise value of approximately $970 million. The transaction represents a multiple of 12.3x fiscal 2023 EBITDA. The acquisition will deliver significant and immediate value to Haynes stockholders, with a premium of approximately 22% to the six-month volume-weighted average share price. Acerinox will invest an additional $200 million in U.S. operations, including $170 million in Haynes’ operations. The transaction is expected to close in the third calendar quarter of 2024.
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Haynes International, Inc. will host a conference call on February 9, 2024, to discuss its first quarter fiscal year 2024 financial results. The call will be hosted by President and CEO Michael Shor and CFO Daniel Maudlin. A live webcast will be available on the company's website, and a teleconference replay will be accessible for those unable to participate.
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Haynes International, Inc. (NASDAQ GS: HAYN) reported fourth quarter net revenues of $160.6 million and fiscal year 2023 net revenues of $590.0 million, up over 20% from last year, with a record year in revenue in Aerospace and Industrial Gas Turbines. The gross margin for the fourth quarter was 18.5% of revenue, and 20.9% when adjusted for raw material headwinds. Fiscal year 2023 gross margin was 18.6% of revenue, adjusted to 20.7%. The unfavorable change in estimated raw material impact between the two fiscal years was $22.0 million pretax. The cyber security incident in the third quarter impacted results by an estimated $7.0 million pretax. The fourth quarter net income was $13.2 million, or $1.02 per diluted earnings per share. Fiscal 2023 net income was $42.0 million, or $3.26 per diluted earnings per share. The backlog as of September 30, 2023, was $460.4 million, up 23.2% year-over-year. The Company also declared a regular quarterly cash dividend of $0.22 per outstanding share of the Company’s common stock.
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HAYN: Haynes International, Inc. to Host Conference Call on November 17, 2023 to Discuss Fourth Quarter and Fiscal Year-End Financial Results. President and CEO Michael Shor, along with CFO Daniel Maudlin, will be available to answer questions. Webcast and teleconference replay details provided.
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HAYN: Haynes International to Discuss Q3 Financial Results in Conference Call on August 4, 2023
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FAQ

What does Haynes International, Inc. do?

Haynes International, Inc. develops, manufactures, and distributes high-performance nickel and cobalt-based alloys for high-temperature and corrosion-resistant applications.

What are the primary markets for Haynes International's products?

The primary markets include aerospace, chemical processing, and industrial gas turbines.

Where is Haynes International, Inc. headquartered?

The company is headquartered in Kokomo, Indiana.

When was Haynes International, Inc. founded?

It was founded in October 1912.

What are some notable applications of Haynes International's alloys?

Their alloys have been used in world wars, space missions, and the restoration of the Statue of Liberty.

How many new proprietary alloys has Haynes International developed since 2000?

The company has developed nine new proprietary alloys since 2000.

What regions contribute to Haynes International's revenue?

The majority of revenue comes from the United States, with additional contributions from Europe, China, and other regions.

How does Haynes International ensure product quality and innovation?

The company invests in technical programs and maintains a highly-trained staff and state-of-the-art facilities.

Are all newly developed alloys by Haynes International commercially available?

Five of the nine new alloys are commercially available, while four are being scaled up for market introduction.

What is the significance of Haynes International in the alloy industry?

Haynes International is a leading innovator in high-performance alloys, with over a century of contributions to the industry and significant market presence across multiple sectors.

Haynes International, Inc.

Nasdaq:HAYN

HAYN Rankings

HAYN Stock Data

750.36M
12.78M
2.62%
99%
4.17%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
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United States of America
KOKOMO