Welcome to our dedicated page for Webco Inds news (Ticker: WEBC), a resource for investors and traders seeking the latest updates and insights on Webco Inds stock.
Webco Industries, Inc. (OTC: WEBC) is a manufacturing company focused on carbon steel, stainless steel and other metal tubular and specialty tubing products. This news page aggregates company-issued updates and market-facing announcements so readers can review how Webco describes its performance, strategy and operations over time.
Recent news releases from Webco include quarterly and annual financial results, where the company reports net sales, gross profit, income or loss from operations, interest expense, capital expenditures, cash flow and borrowing availability under its senior revolving credit facility. Management commentary in these releases often discusses conditions in the domestic manufacturing sector, the impact of foreign imports and dumping, and the effects of tariff environments on Webco’s markets.
In addition to earnings releases, Webco’s news includes capital allocation and share repurchase updates, such as the acquisition of common stock in private transactions and activity under its stock repurchase program. The company also issues announcements on governance developments, including the appointment of outside members to its Board of Directors who bring experience in financial accounting, governance, and the steel and basic materials industries.
Webco’s news items frequently restate its mission to build a “Forever kind of company” based on trust, teamwork, strength, agility and innovation, and describe its network of tube production and value-added facilities in multiple U.S. states serving customers globally. Investors, analysts and other interested readers can use this news stream to follow Webco’s reported financial trends, board changes, capital spending on stainless facilities and its F. William Weber Leadership Campus, and the company’s own view of risks and opportunities in the metal tubing and domestic manufacturing environment.
Webco Industries, Inc. (OTC: WEBC) announced the retirement of Dr. Kenneth E. Case from its Board of Directors after nearly 30 years of service. Dr. Case, a former Regents Professor of Industrial Engineering and Management at Oklahoma State University, has been an invaluable asset to Webco, contributing his extensive knowledge of engineering and quality. His retirement marks the end of a significant era for the company.
CEO Dana S. Weber and President David E. Boyer expressed their deep appreciation for Dr. Case's contributions, highlighting his insights, humor, and impact on Webco's growth from a small tubing manufacturer to an industry leader. Dr. Case's influence extended beyond his board role, with many of his former students becoming engineers and leaders at Webco.
Webco Industries (OTC: WEBC) reported its fiscal Q3 2024 results ending April 30, 2024. Net income was $6.4 million, or $7.49 per diluted share, identical to Q3 2023's net income but down from $7.91 per diluted share. Net sales fell 9.1% to $153.2 million from $168.6 million in Q3 2023. For the first nine months, net income was $11.8 million, or $14.30 per diluted share, down from $18.3 million or $22.89 per diluted share in the same period of the previous year. Net sales for this period dropped 13.8% to $457 million from $530.5 million. Despite a challenging market impacted by foreign imports, CEO Dana S. Weber emphasized maintaining a strong balance sheet, with $87.5 million in cash, short-term investments, and available credit. Gross profit and operating income also saw declines. The company continues investing in infrastructure, including its new Tech Center and corporate headquarters. Webco's stock repurchase program remains active, with 3,600 shares repurchased in Q3 2024.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Webco Industries reported its Q2 fiscal 2023 results, revealing a net income of $3.5 million ($4.43 per diluted share), a decrease from $9.5 million ($11.76 per diluted share) in Q2 fiscal 2022. Despite net sales remaining at $173.4 million for both quarters, the company experienced a gross profit drop, with Q2 fiscal 2023 at $15.3 million (8.8% of net sales) compared to $29.1 million (16.8%) in Q2 fiscal 2022. For the first half of fiscal 2023, net income was $11.9 million ($14.97 per diluted share), down from $24.1 million ($29.40) the previous year. SG&A expenses decreased significantly, while interest expenses rose due to higher rates. The company maintains a solid cash position of $76.7 million.
Webco Industries, Inc. (OTC: WEBC) announced its fiscal Q1 2023 results, reporting a net income of $8.4 million or $10.54 per diluted share, down from $14.6 million or $17.41 per diluted share in Q1 2022. Net sales increased 12.5% to $188.5 million, compared to $167.5 million in the previous year. However, gross profit declined to $26.0 million (13.8% of sales) from $34.4 million (20.6%). Operating income also decreased to $12.4 million from $19.4 million. The company is focusing on financial strength amid rising costs and has $87.8 million in cash and available credit.
Webco Industries reported a net income of $8.2 million for Q4 FY 2022, down from $13.4 million in Q4 FY 2021. Net sales rose by 18.6% to $172.5 million. Full-year net income increased to $48.4 million, with sales reaching $704.0 million, a 50.9% rise from FY 2021. Despite operational income decreasing in Q4, gross profit for the year improved significantly. The company's balance sheet remains strong with $59.0 million in cash and credit, as it navigates volatility in raw material costs and inflation in operating expenses.
Webco Industries, Inc. (OTC: WEBC) reported strong financial results for Q3 of fiscal 2022, ending April 30, 2022. The company achieved a net income of $16 million ($19.88 per diluted share), up from $6.5 million in Q3 2021. Net sales rose 50.1% to $190.6 million compared to the prior year's $127 million. For the first nine months, net income reached $40.1 million ($49.25 per diluted share), a substantial increase from $6.3 million in the same period last year. Despite increased costs in operations and SG&A expenses, Webco maintains a strong balance sheet with $59.5 million in cash and credit.