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Haynes International (NASDAQ GM: HAYN) announced that Noble Capital Markets has initiated company-sponsored equity research coverage on them. This announcement comes as a significant development for the company, which specializes in high-performance alloys for aerospace, industrial gas turbines, and chemical processing industries. The detailed report by Noble Capital Markets Senior Research Analyst Mark Reichman is accessible for stakeholders and interested investors on Channelchek. This initiative aims to enhance market visibility and investor knowledge about Haynes International's business prospects and performance.
Haynes International reported a record backlog of $408.2 million as of December 31, 2022, a growth of 9.2% quarter-over-quarter and 87.7% year-over-year. The company achieved net revenue of $132.7 million, marking a 33.4% increase compared to last year, with significant growth across key sectors: aerospace (33.2%), chemical processing (30.2%), and industrial gas turbines (78.3%). Despite higher costs, gross profit increased to $23 million, with diluted EPS reaching $0.61. A quarterly dividend of $0.22 per share was declared. The company expects revenue and earnings for Q2 FY2023 to surpass both Q1 FY2023 and the same quarter last year.
Haynes International (NASDAQ: HAYN) has announced a conference call scheduled for February 3, 2023, at 9:00 AM ET to discuss its first quarter financial results for the period ending December 31, 2022. A press release detailing these results will be issued post-market on February 2, 2023. The call will feature Michael Shor, President and CEO, alongside Daniel Maudlin, VP of Finance and CFO, who will address questions. Investors can join the call using the provided teleconferencing numbers. A replay of the call will be available from February 3 until March 5, 2023, with additional access via webcast on the company's website.
Haynes International reported strong financial results for the fourth quarter and fiscal year 2022, with a net income of $16.3 million, a significant increase from $2.6 million in Q4 2021. The company achieved net revenues of $143.8 million, up 50.9% year-over-year. Diluted earnings per share rose to $1.30 from $0.20 the previous year. Fiscal 2022 net income reached $45.1 million, a turnaround from a loss of $(8.7) million in fiscal 2021. A record backlog of $373.7 million and a quarterly cash dividend of $0.22 per share reflect continuing growth prospects.
Haynes International will host a conference call on November 18, 2022, at 9:00 AM ET to discuss its Q4 and fiscal year-end financial results for the period ending September 30, 2022. A press release detailing the results will be issued post-market on November 17, 2022. The call will be led by CEO Michael Shor and CFO Daniel Maudlin, with Q&A sessions included. For those unable to attend, a teleconference replay will be available until December 16, 2022. A live Webcast will also be accessible on the company's website.
Haynes International reported a record backlog of $338.2 million as of June 30, 2022, a 20.5% increase from the prior quarter and 124.1% year-over-year.
Net revenue reached $130.2 million, up 11.2% sequentially and 47.7% year-over-year, with aerospace revenues climbing to $61.0 million (up 15.2%). Gross margins improved to 25.5%, up 550 basis points from the previous quarter. Net income increased to $15.6 million, with diluted EPS rising 85% to $1.24. A quarterly cash dividend of $0.22 per share was also declared.
Haynes International, Inc. (NASDAQ: HAYN) will host a conference call on July 29, 2022, at 9:00 AM ET, to discuss its third-quarter financial results for the period ending June 30, 2022. The earnings announcement will be made after market close on July 28, 2022. CEO Michael Shor and CFO Daniel Maudlin will lead the call, which will be accessible via live webcast at www.haynesintl.com. A replay will be available after the call until August 28, 2022.
Haynes International reported a strong second quarter for fiscal 2022, achieving net revenue of $117.1 million, a 17.7% increase from the previous quarter. Net income rose to $8.5 million, up 81% quarter-over-quarter. The gross margin improved to 20.0%, a significant rise of 210 basis points. Notably, the backlog reached $280.7 million, increasing 29% quarter-over-quarter and representing the highest backlog in company history. The company declared a quarterly dividend of $0.22 per share. Growth in the aerospace sector is expected to drive future performance, with shipments anticipated to reach pre-pandemic levels by year-end.
Haynes International (NASDAQ GM: HAYN) will host a conference call on April 29, 2022, at 9:00 AM ET to discuss its second quarter financial results for the period ending March 31, 2022. A press release with the results will be issued after market close on April 28, 2022. The call will feature Michael Shor, CEO, and Daniel Maudlin, CFO. Participants can join via the provided dial-in numbers or through a live webcast available on Haynes' website.
Haynes reported net income of $4.7 million for Q1 2022, up from $2.6 million in the prior quarter. Diluted earnings per share rose to $0.37, an 85% increase. The backlog reached $217.5 million, a 24% quarterly increase driven by aerospace orders. Net revenue was $99.4 million, up 37.8% YoY. A gross margin improved to 17.9%. The company plans to resume pre-pandemic shipping levels by fiscal year's end. A quarterly dividend of $0.22 per share was declared.
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