Welcome to our dedicated page for Universal Stainless & Alloy Pr news (Ticker: USAP), a resource for investors and traders seeking the latest updates and insights on Universal Stainless & Alloy Pr stock.
This page provides a historical news archive for Universal Stainless & Alloy Products, Inc. (formerly NASDAQ: USAP), a manufacturer and marketer of semi-finished and finished specialty steels. Company releases describe Universal Stainless as producing stainless steel, nickel alloys, tool steel and certain other alloyed steels for use in aerospace, energy and heavy equipment manufacturing, with aerospace identified as the largest market for its premium alloy products.
The news flow for USAP covers several recurring themes. Earnings releases discuss net sales, gross margin, operating income, net income and non-GAAP measures such as EBITDA and adjusted EBITDA, along with commentary on product mix between specialty alloys and premium alloys. These updates also describe demand trends in aerospace, energy and heavy equipment, and provide detail on sales by market segment, including service centers, original equipment manufacturers, rerollers, forgers and conversion services.
Corporate developments are another key element of USAP news. In October 2024, Universal Stainless announced that it had entered into a definitive agreement to be acquired by Aperam in an all-cash transaction. In January 2025, the company reported the completion of this acquisition, stating that Universal had become a wholly owned subsidiary of Aperam and that USAP shares had ceased trading on the NASDAQ Stock Market. Earlier news items also include announcements about index inclusion in the Russell 2000 and 3000 Indexes and updates on collective bargaining agreements at the company’s North Jackson facility.
Investors and researchers can use this news archive to review Universal Stainless’s historical financial performance, its exposure to aerospace and industrial markets, and the sequence of events leading to its acquisition by Aperam. Because USAP is now a defunct ticker following the completed transaction, the articles on this page serve as a record of the company’s activities during its time as an independent public issuer.
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Universal Stainless & Alloy Products reported Q1 2023 sales of $65.9 million, marking a 17.2% increase from Q4 2022 and a 38.5% rise from Q1 2022. The record quarterly sales of premium alloys reached $17.7 million, up 31% sequentially, driven by strong aerospace demand that constituted 74.3% of total sales. Gross margin improved to $7.7 million (11.7% of sales) compared to previous quarters, leading to an operating income of $1.4 million. The net loss reduced to $0.5 million, or $0.06 per diluted share. Q1 2023 EBITDA was $6.5 million, with adjusted EBITDA at $6.8 million. The backlog reached a record $366 million, and bookings hit $117.1 million.
Universal Stainless & Alloy Products (Nasdaq: USAP) will release its first quarter 2023 financial results on April 26, 2023. A conference call will be held the same day at 10:00 a.m. Eastern, where the earnings will be discussed. Interested parties can register for the call to receive dial-in and PIN information.
The call will also be available via a live webcast on the company’s website, with an archive accessible until the end of the second quarter 2023.
Universal Stainless, founded in 1994 and headquartered in Bridgeville, PA, manufactures semi-finished and finished specialty steels. Its products serve industries like aerospace, power generation, and more, highlighting the company's significant role in critical sectors.
Universal Stainless & Alloy Products has announced the appointment of Brian A. Kane as the new Vice President of Sales and Marketing, effective immediately. Kane has been with the company since 2008, serving as National Sales Manager since 2015, where he focused on business development and customer relationships. His promotion reflects the company's strategy to enhance leadership as they aim for growth. Christopher Zimmer, the newly appointed Executive VP and COO, expressed confidence in Kane’s abilities to contribute significantly to the company’s growth objectives. Universal Stainless specializes in producing and marketing specialty steels, serving industries like aerospace and power generation.
Investors should note the potential implications of this leadership change on future sales and overall performance.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has appointed Christopher M. Zimmer as Executive Vice President and Chief Operating Officer, effective immediately. Zimmer, a 15-year veteran of Universal, previously served as Executive Vice President and Chief Commercial Officer. In his new role, he will oversee manufacturing, technology, and quality alongside his existing sales, marketing, and supply chain responsibilities. Chairman Dennis M. Oates praised Zimmer's contributions, particularly in strengthening market positions and customer relationships. Zimmer expressed excitement for his new role and commitment to the company's long-term strategy.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has announced a price increase of 7% to 12% on bar products, effective immediately. This decision responds to rising costs attributed to inflation impacting various business sectors. Despite the increase, current material and energy surcharges will remain in place. Chris Zimmer, Executive Vice President, emphasized the necessity of this adjustment to manage costs while maintaining high standards in customer service and production quality.
The company continues to manufacture specialty steels used in industries such as aerospace and power generation, while emphasizing future challenges related to pricing, demand, and raw material availability.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced that Dennis M. Oates, the Chairman and CEO, will present at the Cowen Inc. 44th Annual Aerospace/Defense & Industrials Conference on February 15, 2023, from 11:30 AM to 12:10 PM (Eastern) at The Ritz-Carlton, Pentagon City, VA. The presentation will be webcast live, and the link is available on their website. A replay will be accessible approximately three hours after the event for 90 days. Established in 1994, Universal Stainless manufactures specialty steels used in various industries, including aerospace and power generation.
Universal Stainless & Alloy Products (USAP) reported Q4 2022 sales of $56.2 million, reflecting a 21.7% increase from Q3 2022 and a 30% rise from Q4 2021, marking the highest quarterly sales since Q1 2020. Premium Alloy sales reached $13.5 million, up 69% sequentially. However, gross margin fell to 4.3% due to negative raw material cost misalignment of $2.4 million and equipment outages costing $0.7 million. The net loss for the quarter was $3.7 million, or $0.41 per diluted share. Notably, the backlog surged to a record $287.9 million, up 17% from Q3 and 114% year-over-year.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced preliminary fourth quarter 2022 results, forecasting net sales of $56.2 million, a 22% increase from Q3 2022 and 30% higher than Q4 2021. Record premium alloy sales are projected at $13.5 million, representing 24% of total sales, largely driven by a 27% sequential increase in aerospace market sales.
However, gross margin is expected to decline to 4.3% (approx. $2.4 million), impacted by surcharge misalignment and unplanned outages, leading to an anticipated net loss of $3.7 million or $0.41 per diluted share. Year-end backlog reached a record $287.9 million.