HAYN - Earnings call transcript Q1 2021 | Haynes International Inc

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Operator

Good morning ladies and gentlemen. And welcome to Haynes International Inc First Quarter Fiscal 2021 Financial Results Conference Call. At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor to your host David Van Bibber. Sir, the floor is yours.

David Van Bibber

for today. much very you joining us Thank With of Vice Haynes are Mike President and CEO Shor, President International; Chief Officer. me Financial today and and Dan Maudlin,

XXXX. brief would identify Before of started, statements XXXX words Reform of expressions the that The within XXE This like Private cautionary looking contains note the forward and Exchange meaning intended to conference we are Section plan call forward-looking regarding I Act anticipate, Securities Act read and the get are Securities statements. statements. forward-looking and of the believe, and of Litigation similar to

Although and we we subject risks our intentions provide in plans, such can are risks expectations fiscal to statements forward-looking or as detail to publicly the or and the Form revise expectations company's that, of believe no Securities of obligation With particular, to forward-looking Exchange update in September the by future be these information, assurances over such suggested of new turn statements company or result no achieved. let otherwise. plans, Many The reasonable, intentions are Mike. whether statements ended call with XXXX. a and any year such will in me filings undertakes Commission, the uncertainties, a are discussed number regarding or for and events XX-K XX,

Mike Shor

significant for the to actions Three were were would been very we we business. a the driven were ago, to these At was take we understanding phase our ago earnings highlighted impact the the in stabilize me interesting the taking reduction still QX drop. months step during how the during we discovery far call, times. look on that It's I business everyone. pandemic the pandemic earnings point, difficult since that of we've our during we line morning, months began. at Six of call, volume and Good where Dave. And discussed Thanks, headed. QX believe back where having

Our entry as unprecedented conversations our still or that with recent our downturn. order leads visibility this trends to bottom at unclear, believe customers, is of the is recent us near well as QX

This percent $X.X full XX.X%; was year's X.X% year. These last quarter million volume volume revenue year. margin versus to to quarter weight of gross of numbers the us for pandemic. as see, compared QX Net the down XX% last this down XX.X% was impacted and they this quarter compared net $X million, reflect loss difficult are income to last as

before would for provide team attention our these I'm now on areas. fundamentals. future. our As a We and the significant team, both accomplishing with so company volume what during believe emergency of gross the proud our entire properly comments we that we process are each focusing of breakeven business for our and positioning to lowering related few strong a we downturn; this margin, begin to do specifically I'll generation. cash on pandemic committed of the

we at much significantly exhibited endpoint breakeven point at improve for that but the pandemic, in points basis success. margin will achieved workforce, profitability profitable be 'XX believe than result of was teams volume And shipped by our relentless what in a return on to on QX our margin important X fiscal pounds of work to Our unless our critical 'XX that expanding The from improving was work gross great focused XXXX progress, percent gross was 'XX. be can breakeven by our X the of on was by volume previous We the points it below efforts percent in volume gross that pricing to value could 'XX. at margins reduced XX%. and our Haynes. and we gross company XX% breakeven this, we years And in reductions. we XXX believe XX% to show for right pounds, quarterly quarter fiscal XXX million the by for accomplished that We not least quarter fiscal achieving believe Based This substantially for our accomplished by least gross that entire step meaning and prior our a and basis margin our occur should reduction XXXX. in should lower long-term an pricing QX value start cost our levels based data cost And on be margin a direction. now on million quarter. lower not

While of quarter the million to are level on concerned, work positive in pounds speed due which should our on the just profitability. impact focused are X.X that natures losses our have we our current company the return to can in

generated team fiscal came generated of half $XX will play As in pandemic inventory role inventory an now $XX.X the believe to in QX. continue 'XX And We pivoted cash on in a reduce Everyone and last a to generation we 'XX, cash year hold responsible this. in our cash the we the reduction. to has fiscal position 'XX. driven our solid to fiscal we million additional that in million by has U.S., been and

and cutting with we're mill customers service, to a application pricing able alloy quantities, of value provide products development Since distributor and addition our time and our to initiatives, global both industry. opinion, just our our cash a small alloys products, in and my in our deliveries, unique none added are capabilities. to we sales and both technical and this are performance in In on and cost, second

be understand sustained to levels will question continue is customers Haynes fly but again and the growth. want and schedules. build confidence show all vaccines travel and our to and we the slope differentiators this will us actions believe sector only that timing to aerospace well very customer pandemic. in with improvement Our competencies will for in position safe expand, the and The air the as from take of core that time, aerospace saw the and the back capabilities commercial recovery once again commercial commercial path in we focused we for aerospace XXXX the key We

We expect back both begins CPI up the as see also general growth the markets to IGT economy from pandemic. to and the open in modest

Our up. gain the of in activity helped signs IGT future. pockets of has to now our up recent positioned in is be These also data team decline see that points believe improvement this the up well the very Wrapping we're exist. additional share market that to and activity comments, us I has ahead. may signal picking Industrial starting quoting demand my first industry. for improvement, offset be the seems Overall,

help focus customers technical and issues Our and solve process-related provider for with support. the manufacturing and sales sales are of high-value their a clear, we best-in-class and is nickel alloys. supply high-value along customer-focused We differentiated cobalt-based through technical alloys, our solutions

our to success agility, over hand what Our the by entire safety, understood us separate outstanding competition. alloy differentiated formula service. workforce: engineering, This With quality, will is and is applications, to call the for that, and now from Dan. continue speed, customer products I'll

Dan Maudlin

$XX.X industry be same pounds, and of shipped to from million 'XX with first pounds in quarter of continues impacted the and of issue customers amount a or the the from period the of to roughly with in include: lower same in supply recertification Notable people's and Boeing elevated 'XX. aerospace Mike. to quarter mode, is that rollout trends. Complicating sequentially milestones the continue XXX million. fly. to inventory volume situation which cash also our Volumes This particularly last to the million conservative last of the maintenance continues aerospace results. confidence demand aerospace reduction been X.X QX was contributed start again and accounted at from XX% the XX% revenue fiscal supply the decrease MAX has chain, of shipped entry during reductions X.X% the build reduction throughout repair impact fiscal sequentially the throughout vaccine decrease The of on primary of X.X are schedules year with a XX% its and a lower by fly year. reductions Sales overall combined chain. in most inventory in 'XX. our volumes. a to quarter fourth to Many aerospace is for Destocking to in Thank and a from Combine be commercial activity. the produced the impacting elevated and aerospace fiscal market the preservation of the of financial aerospace, XX.X% period you, the resulted in expected market pandemic, significantly This our

dollars XX% XX% QX take levels. expected it's mentioned, back year-over-year. to aerospace aerospace Mike pre-pandemic As by to in time to down to and Backlog decreased sequentially from get QX still

from with in is same which market XX% million last volume. in for generally is accounted than lower seeking and period of The decrease dollars chemical decrease million. First QX, revenue, spending. than chemical producers X% and their QX COVID-XX million a fourth quarter revenue XX% X.X% $X.X continues of of oil by to is was chemical companies market down the this impacted period slightly CapEx lower year. Demand same CPI last side competitive, to to but sales in $X.X lower delay at is market year-over-year. the our many Backlog X% most of project by which million, increased prices highly sequentially $X.X and reflected $XX.X from Special this processing, to the is be the This in processing causing a year. of commodity quarter QX

the of First is same from for to increase of of increase This gas at accounted year. QX revenue XX% quarter last market the million. from X.X% $XX sales an and turbine period XX% industrial an our sequentially

initiative volumes. share continues help Our to gain

impacted quarter-to-quarter, and pandemic. by market can However, this be still volumes was the lumpy

growth turbines and gas as XX% conditions decreased XX% by dollars modest industrial turbines year-over-year. from expect QX slowly to improve. We Backlog in industrial down QX in sequentially gas

driven from $XX.X to for increase First X% of from our year. markets and up XX% quarter. an were QX million. the dollars revenue in This last at XX%, of XX% markets increase Backlog sequentially QX is also an quarter QX sequentially from to other was desulfurization same sales by year-over-year. flue-gas of by XX% applications this increase other period This and accounted increased

first The million. environment. volume this other million gross decrease in conversion, production resulted with face sequentially First in period the to industry. a last volume the quarter the revenue of pounds challenge QX reducing company 'XX margins in of This is same including to industry-wide significant at to to a of The accounted the year. in from total X% X% aerospace exposure that our $X.X compression total decrease due low XX% reductions have current was of decrease revenue overall continues X.X from quarter The of fiscal of spending for and commensurate X.X%. customers of

quarter, production the by equipment. overhead in $X.X the which into also the the capitalized sales further during of be to not of of quarter, cost quarter reduced fourth and X first shipped addition for company of reduced 'XX incurred fiscal excess million to inventory. to production This charged In X% quarter, 'XX. during million the plant of at the low volume volume per fiscal due reduced the and million levels our $X.X fixed $X first compares $X.X that could the to or company inventory our in charge in quarter cost sequentially In normal pound directly low direct million utilization

employees striving $XXX,XXX to Last keeping cleaning to quarantine for that safe lower reported costs these COVID-XX. align COVID-related cost to shifts, at $XXX,XXX were pay, volumes. to and tasks cost we This structure supplies. continually roughly our our cleaning staggered diligently quarter, better and to related effort balanced are is We with reduce

last quarter that in expense, had up this cases of in million This $XX.X we quarter or keep million of safe. to $XX.X a additional to XX%. including some quarter everyone an first the compared is due and to as technical moderately SG&A, first this precautionary quarter, research effort reduction was quarantine year's

'XX incentive last a due of QX SG&A reduced compensation Just the was that reminder sequentially by in to reversal quarter, accruals. million of $X.X

the P&L. was year's Two million points SG&A to similar QX finish $XX.X reversal, this out additional this to in Excluding QX.

the First, to same compared was quarter lower first P&L retirement expense benefit as in the nonoperating $X.X the on last year. million period the

we As This the assets actuarial care our I managing valuation as our return retiree to of been health lower on have spending secondly, quarter to 'XX reported our rate to and actively last due lower the tax higher-than-expected favorable first compared pretax XX% was year. costs due tax the period in rate pension is XX.X% retiree quarter, plan care same And health was plan. of last in our fiscal effective loss. unfavorable effective

it, is of full quarter pandemic. in which, as Mike resulted and the for us for this the of net see difficult loss of reflects $X All a put million the weight to

to continue as COVID-XX to for next outlook pandemic. uncertainty due we quarter, global the experience market far our As

customers trends quarter unclear, fixed this bottom low still revenue that unfavorable is at believe our cannot unprecedented visibility as While the economic Earnings market be us and absorption. conversations first near entry during second recent order quarter to well lead the with or downturn. volumes of of and this and time as are volumes unpredictability, accurately estimated for cost

our positioned 'XX for to to throughout continue favorably fiscal expect liquidity solid We the and recovery. be

Moving million product Backlog Liquidity. at at in $X.X I'm compared of to selling quarter during by million price as sequentially average a by in -- mix. Backlog 'XX, XX, reflecting XX, the X.X% first decrease $XXX.X or increased backlog. XXXX. the X.X% $XXX.X -- September a XX, December pounds to reflected decrease offset was million change backlog September from a the dollar sorry,

As cash to 'XX. million balance at this million December increased to we XXXX, million cash driving sheet at compared -- we September $XX.X $XX.X XX, total quarter, $XX.X XX,

cash increase our reducing in largely $XXX.X to December attributable Our inventory was $X.X to XX. million at by million

Additionally, were X line against of borrowings the credit. there

turn and we fiscal are planned our to are As second our or the facility our That's believe was that during refinanced these year an 'XX in 'XX of to of million. and expenditures pivoting credit bottom with unprecedented to challenging months half and for In are of the believe needed. we discussion improvement the to we $XX Mike, of weather period. maintaining they million borrowing last and our million, We allow strong capacity reliability at Since be have but capital in well near that, conclusion, agreement this this for positioned $XXX approximately earnings period, quarter. million the to total are 'XX are expected if million fiscal is three now the operations. fiscal I generated liquidity call, back a spending demand within $XX.X temporary, additional now over three times, and have our for mentioned million ability with Capital we markets. time we future $XX.X first cash, the $X.X in in will $XX.X you. we this to expected

Mike Shor

for Dan. weather in employees. Together, again, to you, as to health the thank Thank these to the unprecedented open Haynes I interest of differentiates times. our let's competition With I, the and all workforce to you for of work want on your patience that, also what want continue protecting we for implementing Haynes thank on required our enhancing call and to continued your on actions some related success. our questions. we key up Matthew, metrics

Operator

from [Operator Stephen question is first Instructions] O'Hara. coming Your

previous the really of the seems you that think to mean, about live. is in like -- guys maintaining you you I more about challenging frame kind work is today? mean, is Can maybe a line obviously work the Stephen done. about difficult, of talk more kind there and a gross of it is where would be of generating done balance to I sheet, be that Your I know that of mean, O'Hara a talked way for downturn, period we'd in Q this be And But margin kind a guys, and you've done today? face like would - we'd way there painful I the you lot cash. job a kind past a seem that where lot a work have it maybe necessary. without great

Dan Maudlin

'XX And losing with us XXX hit pandemic -- million it X all Well, telling money which at price, the X look to on could wrapping is were the dropped in cost a from X.X quarter. we obviously most 'XX pounds at and our 'XX. a history, think gross is through common, our pounds couldn't times you and issue reduction. for were once million XX% hit margin. again, 'XX, million that, when the about focused And We signal we hit, on up make you. we're through X relentless quarter. focused and put for I even volume unless that we before we shipped -- let perspective me just pre-pandemic million we pounds money through And not our We about pounds is why

- received from think I But government obviously, think anything? were pretty that guys improvements or difference this flow Q and job a significant. kind haven't concern. guys significant have CARES we you -- I no you think anything fact? just -- there mean, made where is -- if Is back the is we is Okay. don't Stephen mean, cash a So And I of there had I could there. there's -- this O'Hara we then when And not look there's thing started when great the like that those again, Act No, we in be mean, case. I that's a helpful. that stimulus at I mean, obviously, no I where the be that done or benefits we

Dan Maudlin

That's correct.

Mike Shor

did payroll That's any of take but I of loan not paying correct. that's not kind mean, a those, little significant. or We is like there PPP anything of taxes, deferral bit that.

Dan Maudlin

And but a monitoring not since team's led cash of only this inventory, obviously, our real that's nice good done, I Steve, reducing began. very and real The job to think thing generation closely receivables. payables

Mike Shor

back helpful. what think I United airlines, of based curious, I'm of to MAXs kind fleets it their well March XQ. it? And was as does of is maybe at maybe just getting kind if queue. to mean, you jump Q where at kind mean, you're maybe I'll O'Hara -- mean, kind based in that about that's above flow expect that look thinking one, you of the this was just in from Stephen coming starting maybe I and point And capacity to in back like back? then again? capacity of some - are listen and getting day. literally to positivity on And more see is every production just there be -- We No, these that's hearing cash Or times X then I they I it Okay. of customers? started liquidity precursor some that the is, wishful help last what just But on sounds demand the

Dan Maudlin

in the flyers XXXX. I a come below that number the very mean, fewer to airlines positive down. I XXXX every for demand traffic while day, down going rest through chain are Passenger little going is XX% take was you all when be The flights I think inventory of and we've XX% to a 'XX do and also number is the I the were almost every door, the about level all TSA check, the as all flights that. in But operated in comments supply it's 'XX. pent-up the And to XXXX. -- continuing lowest little facts love of checkpoints, we read low. versus in of since

in material chain. because put great we'll But going of vaccine when demand the of those very the having and account engine as be into AXXX flying of the time. chain, they come, things for stages end it to in need and to is of LEAP And on is people we're lead of build again, the what So with advantages being the to only the obviously, you is amount this look the line feel early interest was advantage starting supply again. the the in to and of the people happen -- MAX view flying certainly start supply then there's one comes the Bottom as will then supposed believe vaccine. my you at aircraft. quickly And and the start

what going see X based take orders to or supply take to seeing get inventory we is We're it's some some in chain, the aerospace minus there. time. start in to probably time So come going to but it on expecting plus months

Mike Shor

we're how will mentioned basic in add upturn. business thing one we model, ourselves being And about Mike a and just our service a that remarks, is for I inventory as his talk smaller the positioning the to might mill to And prepared having allow will service centers. service ground to center, but help start demand if order on want lots the customers center that recovery, this slow in us through they in immediately a

some we're MAX Obviously, be time. it here. the and are flying and positive I again, for for So the wait very But can't things. prepared upturn think, take to vaccine it'll

Operator

Your Leshock. Michael next question coming from is

Your line is live.

Michael Leshock

And or the about said, to you're terms potentially said in thinking be cuts quarters how hiring you bringing as during you take well your being on get next wanted you've your recovery in of That be at a will here? the taken you're back the any That the how could if cadence get we back some think. helpful. I bottom, if terms coming several provide cost the of versus you would structural? on So just color much near over pandemic headcount of

Mike Shor

Sure.

wire First, We're in facility, Kokomo. in down I at our capacity-wise were got down we to look X/X or are where volume-wise.

about produced down they're our in are pounds facility, down And more. Our either tube XX%.

in you is look which at to period, we XX% when took the overall XXX January out workforce. people, our time November of So that

to want to we on because real. two will people that. sure points see begin we we be what one, make So bring to slow back Number is

sure, going for a to here read salary sure back. We we're going slope. will employees make on of take So careful people Again, side we that when side, full to very on the have and production we everyone key everything in both bring We're we especially fast the we aerospace, take this that is advantage are the little time. be reads, this else and the how the bit me, not happen. so

side, to will promote differentiated our in on back. certainly people products, salaried slow On going be the us help to that to many bring people to it but are high-value continue bring we'll salary continuing

Michael Leshock

talked and and MAX I on slower-than-expected there wanted on engine. XXXX, about the I also proprietary alloys your But to the have Airbus, on the ramps AXXX know specifically get you pushouts you Boeing take recent on and the GEXX. LEAP the the by on

of based on how you've any supply to extent chain? from are So anticipate here And because sort you what you these of -- some -- the from what hesitancy did slowing announcements? within heard customers seeing

Mike Shor

before, built multiple another LEAP, in happens there the year we've no engine we're schedule, We've LEAP the in the plus said is XXX no the engines as And and we've spares. in what is watching in assume whatsoever Boeing significant. there that about talked way, seeing whatsoever happens is range math current us. single-aisle in and and plains no LEAP with XX industry now. change done And And the the there with the the metric about done XX -- XXX it's of really LEAP, think key what that change for I XX many Airbus, planes, somewhere are interesting change for the in build you in is if when times, build AXXXs is whatsoever being

now I months, you plus If say XX is within within which what getting to -- take spare. XXX, that's with look, to us getting X is could aggressive none X XX an think is the -- happen. going And Boeing that, which go if you a bet would on to months, anyone think which so Airbus of

X So us, in think level the why that's chain. the that's XXX most X and planning still there's a what on. is months we likely And for supply to we're

is for about, for the GEXX is to that in develop I'm we for model elsewhere. business but as hearing, everyone alloys. And all proprietary and far we've that's whole to is a And and continue to XXX the XXXX continue tired out look other of talked as sure two our And engines GEnx disappointing. have business the engine. We concern, about proprietary As and it's us. ways go alloys being fundamental GEXX, we alloys after new significant next-generation pushed to --

Michael Leshock

it really That's in me, just the Then on low it. CapEx, lastly for quarter. was pretty helpful. Got

your maintenance a to annually. see $XX $X And think that Is I million trending? that range? of how million do base fair you around is

Mike Shor

XXXX money plus to in business we've we invested trends, need minus. aerospace as long-term million our or the spend, $XXX Yes. far XXXX, particular between as in Well, spent with we the and

in that million be year. we is to about in $XX and million range, So we've or next X this believe plus that what publicly we below X we'll said And minus depreciation $XX range. years said well

door to people door Dan's to to money going we're as a far need for spend. Got stick banging So my slow there's that start, of but that they to now. on as off plenty and

XX good maintenance for So I number us. think is a

I think below is that. I that. above a but we'll get that concern, think get don't above

Operator

Your from is coming next question Chris Olin.

live. line Your is

Chris Olin

CapEx if So I to outlook? Dan, are provided that we that, I going wondering of stay projects for special information guess, a on maybe up I couple missed until to where at regarding those any tie numbers we're was just it, come to you, budget should quarters back assume low start?

Dan Maudlin

if year, good QX QX, in year little a had mentioned $X.X quarter Yes. million last I a last at we down really $X.X $X.X special by And look projects. about This; year. you last about million, million. quarter we're about from had

million over the a is $X QX, So to in little delta, QX special projects.

Mike Shor

them, is lower honest upgrades margin. components are they're they're into in but customers more that there. There we some numbers additional built that is volume positives. talking times, the add the in and that projects, high color really there, are our about, really that special what when let relatively In some for Chris, helping looking all to be And alloys low there's for we're is and to applications end, we the two relatively these found are we Dan me commoditized get that. in

myself take Dan Ihswar we slice So of we and Venkat a and would between second decided that special projects.

talk us about special as and our we non-aerospace So by the other. up, there, way, projects typically to just for back CPI

a we proprietary drive and we is in different they're they we specialty what's not commodities were XX%. this And interesting 'XX that were applications. and versus did 'XX, And in did, So 'XX about looked what flat. at the in for 'XX, is there that just alloys, up the slice in fiscal fiscal you, versus

there, we the products products. the applications what in not but the is drove a there's lot more more So that of in commoditized

our continuing products about high-value in good times. to tough feel these So team drive I differentiated the even

look it's for long it. answer, a to Sorry but different way the at

Dan Maudlin

of we definitely projects goes look at up. when And some on the we margin without alloys, that special those track commoditized it

at So here are the higher looking profitable what we're special project.

Chris Olin

Interesting.

just Okay. Mike, that seen your kind IGT how there. market wins different you're of different mixes. within movement space your about talking products, success targeting in about going competitive some you protecting forward? We've and side the feel terms I'm of on share market people share wondering

Mike Shor

a market. have good really Really And about you to it by take Chris. it,

We've Okay? talked power about generation.

customer, us, And Okay? that And it we our because talked I significant and have happened. actually love for name it gained, we've cannot share it market. but I about -- we when in Dan obviously

that thing. an was alloys alloy some engines real certain Also, and of more in both in spec-ed we've called proprietary eventually which one being parts. spare new efficient, to within the XXX, make So a is engines IGT, will our good with categories got be

there. We it contract in to is our So good always customer, our about IGT. there's day. have. every and There growing feel share differentiated But side, January, all aerospace, of high-value every really the follow In we in XX% side, we is not transactional pluses lose which obviously, on going we contracts, did renegotiated, be anything every XX% contract product. minus. And to the

it's really feel where processing, we of good Chemical aerospace. products in world of really groups X So are about there. different the

'XX stay stable On the 'XX, this stable to in from 'XX we 'XX so and 'XX far great market stay feel that. project versus about and again, grow to side, special

or commodity we side this intermediate-sized for of going after gone the some C in over people projects see us the before. alloy hadn't CPI, they On some larger side,

I aggressive. a be side, get is unusual you, I to can based orders, be if lost And tell will that CPI So surprised they history, wouldn't as on but on back companies us. the we've few not temporarily,

Chris Olin

into made Last seeing? was you inventory the tying Is question, if alloys. inventory business of aerospace. tubing how difference the titanium just separate out tubing and just the kind you I nickel there or you're between the playing between -- see you comments wondering a regarding it could that

Mike Shor

months, we're for backlog. inventory the still seen question. expect Yes. -- go but typically These the I'll us, cancellations behind use probably another seen seeing plus are on as an and example. on airframe cancellations to cancellations Good on or cancellations, that X cobalt We've as and going nickel side, with most go as and which with that what's minus. far we We've

believe also real was on tubing. I crunch a -- my demand So there titanium pre-pandemic

lot the there -- built on even of beyond was there airframe think everywhere I else. a side, inventory So was

come see titanium tubing engine to longer I taking So see I back coming back. than business

Operator

Your next from Stephen question O'Hara. is coming

live. line Your is

Stephen O’Hara

a like the to trend that long mean, including back think kind trend that moving -- about the more to As guys? like the or that in obviously, emissions, we to of say, benefits trend like made airlines if save pretty, grandiose I does projections Is it that I seems most ESG Haynes? mean, I might certain things and I you industries, guys periods things think that, either benefit within time. that. trend, term? I you the technology whether limit money -- technology, aerospace mean, mean, how that cut green Just needed and secular real, benefit some Does is little I have to you towards long-term of trends but engines trend mean, efficient, on carbon make does it's about

Mike Shor

our for alloy, yes. is use The And generation. generation only answer efficiency. power it's aerospace of XXX but a fair into amount engines, power is The being more of spec-ed it's not allowing

environmental some trying to efficient, fuel the talking unique has more but about only ESG in So side burn when do not being to we're we ESG, and the to alloys. being of what talking because of we're of it we're being aerospace company, able use these our talk about impact within hotter about able engines

also definitely there. what's got and GEXX it's engine happening It the no we've helps. So than what going different And into

bigger role all feel trying of got going hydrogen And understand we at, think in technical people there. play generation then and engine helps. role of how So the in view a our power you when what's longer-term to I going a and to over this?" need happen this look We've the and technology XX thing technology forward take hydrogen years? "Okay, it to Is yes, going in

So that. good yes, we feel really about

Dan Maudlin

hydrocarbon and our exposure gas, to exposure gas the of and industry you think a we is some major not if not now, markets. for one us. Then have that, about oil Oil huge slight but

certainly going be but is away side. kind to for see to of that us, So from gains a shift takeaway on big of that not some the other

Operator

queue [Operator no this at time. further in Thank the questions Instructions] you. There are

Mike Shor

see I queue. any Okay. the don't in questions

So thank everybody. Matthew, talking time Thanks, to thank thank you today, and we your and next of support you and you, again first with look to for quarter. that, of all, all be you and your interest for Haynes. forward Please safe,

Operator

call. ladies conclude gentlemen. today's does you, This and conference Thank

at participation. a for your Thank day. your and disconnect may have you phone You this time, wonderful lines

David Van Bibber	Controller and Chief Accounting Officer
Dan Maudlin	Chief Financial Officer
Mike Shor	Chief Executive Officer
Stephen O'Hara	Sidoti & Company
Michael Leshock	KeyBanc Capital
Chris Olin	Longbow Research

Haynes International (HAYN) 29 Jan 212021 Q1 Earnings call transcript