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WEBCO INDUSTRIES INC - $WEBC STOCK NEWS

Welcome to our dedicated page for WEBCO INDUSTRIES news (Ticker: $WEBC), a resource for investors and traders seeking the latest updates and insights on WEBCO INDUSTRIES stock.

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 WEBCO INDUSTRIES'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
Webco Industries, Inc. reported a decrease in net income and net sales for the second quarter of fiscal year 2024 compared to the same period in 2023. The company highlighted challenges such as inventory destocking, economic slowdown, and competition from foreign imports. Despite maintaining a strong balance sheet and liquidity, Webco's financial performance has been impacted by lower profitability, increased expenses, and reduced gross profit margins. The company's stock repurchase program and ongoing investments aim to enhance long-term growth.
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Webco Industries, Inc. (OTC: WEBC) reported a net income of $5.1 million for the first quarter of fiscal year 2024, a decrease from $8.4 million in the same period of fiscal year 2023. Net sales also decreased by 16.3% to $157.8 million. The company's CEO emphasized the uncertainties in the global and industrial economies. Webco's focus is on maintaining a strong balance sheet and liquidity while making investments in the business. The company had $102.7 million in total cash, short-term investments, and available credit as of October 31, 2023. Webco's stock repurchase program was refreshed with a new limit of up to $40 million and extended until July 31, 2026.
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Webco Industries reports Q4 and FY2023 results with decrease in net sales
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WEBCO INDUSTRIES INC

OTC:WEBC

WEBC Rankings

WEBC Stock Data

141.58M
0.7%
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
Manufacturing
Link
United States of America
Sand Springs

About WEBC

webco is a leading manufacturer and distributor of steel tubing. the company was founded in 1969 by the weber family. we currently have locations in oklahoma, texas, and pennsylvania. our strategy is to continuously build on our strengths as we create a vibrant company for the ages. we currently offer boiler tubing, pressure tubing, mechanical tubing, oem tubing, and stainless tubing.