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Universal Stainless Announces Base Price Increase on Long Products
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Universal Stainless: Q2 Earnings Snapshot
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BRIEF-Universal Stainless Reports Second Quarter 2021 Results
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May 3, 2021
Universal Stainless & Alloy Products, Inc., which has a location in Dunkirk, reported net sales for the first quarter of 2021 of $37.0 million, an increase of 18.2% from $31.3 million in the fourth quarter of 2020, although 36.7% lower than $58.5 million in the first quarter of 2020.
Sales of premium alloys in the first quarter of 2021 were $7.6 million, or 20.4% of sales, an increase of 26.6% from $6.0 million, or 19.1% of sales, in the fourth quarter of 2020, and down slightly from $7.7 million, or 13.1% of sales, in the first quarter of 2020.
Chairman, President and CEO Dennis Oates commented: “We expected gradual improvement in activity levels in 2021, but our first quarter results point to even better momentum in end market demand, accompanied by a healthy pace of order entry and backlog growth for Universal.