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.
Universal Stainless & Alloy Products, Inc. (USAP) announced a price increase of 7% to 12% on bar products effective immediately due to sharp inflationary cost increases affecting the business. Executive Vice President Chris Zimmer emphasized the need to adjust pricing to manage these rising costs while maintaining high customer service and production quality. The current material and energy surcharges will remain unchanged. Universal Stainless manufactures specialty steels, serving industries like aerospace and power generation.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has secured a new 3-year collective bargaining agreement with hourly employees at its Dunkirk, New York facility, effective November 1, 2022. The agreement, ratified by the bargaining unit, continues existing flexible work rules and profit-sharing incentives. CEO Dennis Oates expressed satisfaction with the contract, emphasizing its role in retaining skilled employees and supporting the interests of employees, customers, and shareholders.
Universal Stainless & Alloy Products (NASDAQ: USAP) reported Q3 2022 sales of $46.2 million, down 11.4% from Q2, but up 24.3% from Q3 2021. The gross margin was 6.4%, with a net loss of $1.3 million ($0.14 per diluted share), influenced by a $0.6 million AMJP grant and $2.0 million in costs from a prior liquid metal spill. Despite production setbacks, backlog reached a record $246.3 million, up 11% from Q2 and 97% year-over-year. The company anticipates a positive outlook due to recovery in the aerospace sector, which constitutes 69% of sales.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced preliminary Q3 2022 net sales of $46.2 million, a 12% decrease from Q2 but a 24% increase from Q3 2021. Sales of premium alloys are projected to account for 17% of total sales. Shipment volume fell 20% sequentially due to a liquid metal spill, labor and supply chain issues, and COVID-19 impacts. The company expects a net loss of approximately $0.14 per diluted share. However, order entry remains strong, with a record backlog of $246 million.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) will present at the 2022 Jefferies Industrials Conference on August 9 from 11:30-11:55 AM (Eastern). The presentation will be led by Dennis M. Oates, Chairman and CEO, and Steven V. DiTommaso, CFO. Attendees can access the live webcast via this link, and a replay will be available three hours post-event for 90 days. Universal Stainless manufactures specialty steels for various industries, including aerospace and power generation.
Universal Stainless & Alloy Products (USAP) reported a record backlog of $222.7 million, up 10% sequentially and 125% from Q2 2021. Q2 2022 sales totaled $52.2 million, a 35.5% increase year-over-year, with premium alloys making up 17% of total sales. Although gross margin improved to 9.1% of sales, net loss narrowed to $1.4 million per diluted share. EBITDA increased to $4.3 million, while adjusted EBITDA reached $6.4 million. The company anticipates ongoing sales growth despite challenges from a recent liquid metal spill impacting production.
Universal Stainless & Alloy Products (Nasdaq: USAP) will announce its second quarter 2022 financial results on July 27, 2022. A conference call will follow at 10:00 a.m. Eastern, which will be available via a live webcast. Interested participants can pre-register for the call to receive dial-in details. The webcast will be archived on the company's website until the end of Q3 2022.
Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced a base price increase of 9% to 12% on bar products effective immediately, due to rising inflationary costs affecting their operations. Current material and energy surcharges will remain in effect. Executive VP Chris Zimmer emphasized the need for this adjustment to manage heightened cost burdens while maintaining service quality and production standards. The company specializes in manufacturing specialty steels for sectors like aerospace and power generation, reinforcing its commitment to customer service amidst economic challenges.
Universal Stainless & Alloy Products reported the resumption of full operations at its Bridgeville Electric Arc Melting facility after an April metal spill. No injuries or environmental issues were reported. The CEO, Dennis Oates, highlighted a strong business environment with growing backlogs, reaching a record high as of May 31. The company is committed to meeting customer needs while recovering lost melt time.
Universal Stainless & Alloy Products (Nasdaq: USAP) reported Q1 2022 net sales of $47.6 million, up 10% sequentially and 28.4% year-over-year. The backlog reached a record $201.8 million, a 50% increase from Q4 2021, driven by aerospace demand. Gross margin was $4.1 million, or 8.5% of sales, benefiting from a $1.1 million AMJP grant. A net loss of $1.6 million, unchanged from Q4 2021, was recorded. EBITDA was $3.8 million. Inventory rose to $147.6 million, reflecting increased work in process. Capital expenditures totaled $2.5 million with a forecast of $20 million for 2022.