Haynes International (HAYN) will host a conference call on April 30, 2021, at 9:00 AM ET to discuss its second quarter financial results for the period ending March 31, 2021. A press release revealing these results will be published after market close on April 29, 2021. CEO Michael Shor and CFO Daniel Maudlin will lead the call.
To join, call 844-602-0380 (Domestic) or 862-298-0970 (International) five minutes prior. A replay will be available from April 30 to May 28, 2021, via 877-481-4010 (Domestic) or 919-882-2331 (International).
On April 19, 2021, Haynes International, Inc. (NASDAQ GM: HAYN) announced the restoration of its CEO's cash salary and outside directors' fees to pre-pandemic levels, effective April 1, 2021. This follows the earlier reinstatement of other executive salaries to their pre-pandemic amounts as of January 1, 2021, after a temporary 10% reduction during the pandemic. The company specializes in high-performance alloys for aerospace, industrial gas turbines, and chemical processing sectors.
Haynes International reported a net loss of $(8.0) million, or $(0.65) per share, for Q1 2021, a significant drop from a net income of $3.3 million in Q1 2020. Net revenues decreased by 33.4% to $72.2 million, primarily due to lower volumes affected by the COVID-19 pandemic, especially in the aerospace sector. The company maintains a strong liquidity position with cash and equivalents of $61.3 million. A quarterly dividend of $0.22 per share was declared. Despite challenges, management believes that revenue may have hit bottom and anticipates potential recovery.
Haynes International will host a conference call on January 29, 2021, at 9:00 AM ET to discuss its first quarter financial results for the period ended December 31, 2020. A press release announcing these results will be issued after market close on January 28, 2021. Participants can dial in five minutes prior using the numbers 888-506-0062 for domestic and 973-528-0011 for international calls. A webcast will also be available at Haynes International's website. Replay access will be available after the call.
Haynes International reported a net cash increase of $11.8 million in Q4 and $24.8 million for the second half of fiscal 2020, despite a net loss of $(5.7) million for Q4. Revenue dropped 38.3% year-over-year to $79.9 million, largely due to COVID-19 effects in the aerospace sector. Gross margins improved from 3.3% to 4.9% sequentially, yet fell from 16.4% in Q4 2019. The company has strong liquidity at $167.2 million, including $47.2 million in cash. A regular quarterly cash dividend of $0.22 was declared.
Haynes International (NASDAQ: HAYN) plans to host a conference call on November 20, 2020 at 9:00 AM ET to discuss its fourth quarter and fiscal year-end financial results for the period ending September 30, 2020. The results will be released post-market on November 19, 2020. Michael Shor and Daniel Maudlin will lead the discussion and answer questions. Participants can join via a dedicated dial-in number or through a live Webcast at www.haynesintl.com. A replay will be available from November 20 to December 18, 2020.
Haynes International reported a net revenue of $80.6 million in Q3 2020, down 36.1% from $126.0 million in Q3 2019. The net loss was $(8.1) million, or $(0.65) per diluted share, compared to a profit of $3.8 million, or $0.30 per diluted share a year earlier. The decline is attributed to reduced demand in the aerospace market due to the COVID-19 pandemic. Backlog decreased by 25.8% to $174.6 million. Despite challenges, cash increased by $13.1 million, with total liquidity at approximately $155 million. A quarterly dividend of $0.22 per share was declared.
Summary not available.
Summary not available.