20
Apr
17:43
Universal Stainless remains optimistic despite another quarterly loss
Universal Stainless & Alloy Products is maintaining a positive outlook even as it posts another quarterly loss.
The US company’s first quarter sales of $47.6 million rose 10% sequentially and were 28% higher on-year. Its Q1 net loss improved to $1.6m from a loss of $4.5m in the year-ago quarter. Quarterly shipments, meanwhile, were down 3% on-year to 6,829 short tons.
“First quarter profitability benefited from increased higher-margin premium allo…
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Very good overview of the weekly steel market.
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