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Universal Stainless & Alloy Products, Inc. - USAP STOCK NEWS

Welcome to our dedicated news page for Universal Stainless & Alloy Products (Ticker: USAP), a resource for investors and traders seeking the latest updates and insights on Universal Stainless & Alloy Products.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Universal Stainless & Alloy Products's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (USAP) reported strong financial results for Q4 2023 and full year 2023 with record sales of $79.8 million and $285.9 million, respectively. Premium alloy sales surged by 28% in Q4 and 74% for the full year. Aerospace sales reached a record $216.1 million for 2023, reflecting a 57% increase. The gross margin improved to 16.4% in Q4, the highest since Q2 2018. Net income rose by 35% to $2.6 million in Q4. USAP's strategic focus on premium alloys and specialty metals is driving profitability and growth, with investments in new furnaces to expand capabilities. The company remains optimistic about its growth trajectory for 2024.
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Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (USAP) will announce its financial results for Q4 and full year 2023 on March 28, 2024. The company will host a conference call and webcast for interested parties.
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Rhea-AI Sentiment
End-of-Day
4.81%
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conferences earnings
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Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (USAP) raises base prices by 7-12% on premium products to support specialty steel markets.
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1.75%
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Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (USAP) will be presenting at the TD Cowen 45th Annual Aerospace/Defense & Industrials Conference. The presentation by President and CEO, Christopher M. Zimmer, will be webcast live and archived for ninety days. The event will take place on February 14th at The Ritz-Carlton, Pentagon City, in Arlington, VA. The webcast link can be accessed on the Universal Stainless website and TD Cowen's website.
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3.45%
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conferences
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Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (USAP) will host a conference call to provide a business update, reporting record sales of $78-80 million for Q4 2023 and $284-286 million for full year 2023. Premium alloy sales are expected to range from $20-21 million for Q4 2023. Total debt was reduced by $4 million in Q4 and $13 million for full year 2023.
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1.73%
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Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (USAP) will host a conference call on January 24th, 2024, to provide a business update and share financial metrics for the 2023 fourth quarter and full year. The call will be webcast for all interested parties. The company's reporting schedule has been extended due to a late start in its annual integrated audit. The President and CEO, Christopher M. Zimmer, expressed anticipation for the upcoming update.
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-0.92%
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conferences earnings
Rhea-AI Summary
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has appointed EisnerAmper, LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2023, replacing Baker Tilly. The change was approved by the Company’s audit committee, and Christopher Zimmer, President and CEO, expressed optimism about working with EisnerAmper.
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Rhea-AI Sentiment
End-of-Day
3.9%
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Universal Stainless & Alloy Products announces leadership succession plan with the appointment of Christopher M. Zimmer as President and CEO, effective November 1st.
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4.31%
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Universal Stainless & Alloy Products reports Q3 2023 sales of $71.3 million, up 3% from Q2 2023 and 54% YoY. Premium alloy sales reach $16.5 million, up 28% from Q2 2023, more than double YoY. Gross margin improves to 15.2% of sales, highest since Q2 2018. Operating income up 43% from Q2 2023. Net income doubles to $1.9 million. Q3 2023 EBITDA is $9.2 million; Adjusted EBITDA is $9.5 million, up 20% from Q2 2023.
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4.31%
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earnings
Rhea-AI Summary
Universal Stainless & Alloy Products announces 5-10% price increase on premium products.
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-2.48%
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Universal Stainless & Alloy Products, Inc.

Nasdaq:USAP

USAP Rankings

USAP Stock Data

223.75M
8.39M
8.58%
63.39%
0.34%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
Link
US
Bridgeville

About USAP

universal stainless & alloy products, inc., together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the united states and internationally. its products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. the company offers semi-finished and finished long products in the form of ingots, blooms, billets, and bars; flat rolled products, such as slabs and plates; and customized shapes primarily for original equipment manufacturers (oems), which are cold rolled from purchased coiled strip, flat bar, or extruded bar. its semi-finished long products are primarily used to produce finished bars and rods; and finished bar products that are principally used by oems and by service center customers for distribution to various end users. the company also offers conversion services on materials supplied by its customers. its products are also used in aerospace, power generation, oil and gas, heavy equipment, gen