Universal Stainless & Alloy (USAP) Misses Q3 EPS by 6c

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Universal Stainless Reports Third Quarter 2021 Results

October 20, 2021 6:45 AM EDT

Quarter-end Backlog increases 26.5% to $125.1 million versus $98.9 million at end of Q2 2021 Q3 2021 Sales are $37.2 million; Premium alloy sales are 16.0% of salesQ3 2021 Gross margin improves to 6.2% of sales from 5.6% in Q2 2021Q3 2021 Net income of $7.9 million, or $0.87 per diluted share, includes $10 million gain on PPP loan forgiveness. Net loss is $2.1 million, or $0.23 per diluted share, before PPP gain, versus loss of $2.5 million, or $0.28 per diluted share, in Q2 2021 Q3 2021 EBITDA is $12.1 million including PPP gain; Adjusted EBITDA is $3.8 million... More