Published on 8 Feb 2024 on GuruFocus.com via Yahoo Finance
Haynes International Inc (HAYN) Reports Steady Earnings Amidst Market Challenges
Revenue: Increased by 11.1% to $147.4 million in Q1 FY2024.Net Income: Remained stable at $7.7 million, unchanged from Q1 FY2023.Gross Profit: Grew to $24.7 million, up from $23.0 million in Q1 FY2023.Dividend: Quarterly cash dividend declared at $0.22 per share.Backlog: Increased to $448.8 million, up 9.9% from Q1 FY2023.Liquidity: Improved with cash and equivalents of $14.0 million and total liquidity at $105.1 million.Capital Spending: $4.3 million in Q1 FY2024 with a full-year forecast of $25 to $35 million.
Warning! GuruFocus has detected 6 Warning Sign with HAYN.
On February 5, 2024, Haynes International Inc (NASDAQ:HAYN), a leading developer and manufacturer of high-performance alloys, released its 8-K filing, detailing the financial results for the first quarter of fiscal year 2024. The company, which specializes in nickel and cobalt-based alloys for aerospace, industrial gas turbine, and chemical processing industries, reported an 11.1% increase in net revenues to $147.4 million compared to the same period last year. This growth was attributed to a rise in product average selling price per pound and an increase in pounds sold.