for joining you, Good everyone. today. morning Thank June. us Thanks
since Our first sentiment That's momentum, level which reached quarter very evident which fourth continues of in positive was the by and quarter highest their today. marked XXXX. customer increasing market our bookings,
second at from surcharges, quarter strong million the normally XX% backlog up year, the was matching record million, XXXX. of increase levels essentially Our seasonally the quarter, quarter almost from fourth remained sales. in the and is top doubling of sales Premium of increase $XX.X from amounting a recovery line XX% the Universal total and XX.X% which million, capped The sales XXXX the remained $X.X XX% quarter quarter alloy quarter in and in our prior margin before XX% of reaching which third our fourth sales included to quarter million near since an ago. net year $XX.X in alloy slower in totaling of quarter were sales fourth the up Fourth sequentially highest Sales is XXXX substantially, $XX improvement fourth year to up XXXX the for also XX% of or what moderate full and totaled almost of grew quarter. We fourth backlog sales year. compared $XXX.X XX.X% brought an million, from a quarter, premium year gross XX.X% the the our to a and sales quarter XXXX the achieved of X.X% of year. of last with third of in
to quarter two by the challenged You strong work demand. will ramp-up facility by of issues that meet production as recall the was we fires of third levels unexpectedly disruption compounded that XXXX caused
we reported production and issues a quarter costs. impact spending fourth quarter spillover worked As increased third maintenance as of record snow those higher into additional sold keep winter through result, outsourcing and Pennsylvania. we a near as There to and in Erie, with was the quarter, accumulations developed fourth in on schedule. namely Arctic extreme such An orders flowing the locations weather facilities, challenge our temperatures late
efforts for through needed and team the at infrastructure addressed. corridor, to issues shipments, conditions. employees, power couple Year, in Erie the facilities, felt of specifically to weather and to was were was these especially thank work plant, and rolling the of occurred, those their numerous our sits New impact trucks the of to and all adjacent hard moving our up through compliment customer pick I December the equipment the issues want numerous Dunkirk all Dunkirk unable Erie/Buffalo be caused of all to which While outages in weeks challenging The Lake hit. particularly particularly first
or net quarter the of breakeven per net residual some share ago. XXXX. in the to increase or be expenses recorded benefit $X.XX was, per in $X.X discussion. quarter the The $X.XX to was increased sales unusual stock largely of quarter tax tax warrants diluted the X.X% per net the third We of and year in compensation The for also adjustment quarter employee third $X.XX fully items net the federal $X.XX XXXX. to this reported for mainly impacted tax were per due sales $X.XX compared and behind taking of new before for $X.X in diluted of minor costs legal from new $X.X programs. fourth reflects the effect the fourth quarter Selling, of before new therefore, compared per benefit us. some XX.X% which income provision XXXX, our loss a estimating diluted effective fourth sales positive in our we state Fourth recorded a including million, further accounting line are with quarter that XX.X% in share. XXXX our was of million, the of are legislation diluted of the a margins rate million for taxes, quarter share to net fourth income The With challenges bottom and tax tax share. Net income of quarter in general diluted XXXX benefit was of the go-forward income XXXX. net third benefit sequential now items share, million and quarter XX%. legislation We and adjustments to range administrative the that with offsets and second a quarter the fourth half adversely a $X.X Fortunately, or in guidance
of was EBITDA share, XXXX. quarter the related X.X% and was up third a the net including net the XXXX XXXX quarter quarter loss diluted year million, of from XX% from or XXXX. $X.XX per fourth diluted for of of For diluted fourth $X.XX third the diluted quarter $X.XX net increase income per full $X.X per benefits and year quarter share in in $X.XX for XXXX, full tax of $X.X compared fire for per million fourth the an million, share the or for hare expenses with $X.X
with Looking with higher full $XXX.X XXXX, in balance XXXX at million, was $X.X scheduled receivable million, product of for $X.X increase primarily Dunkirk for product the partially capital development. to for the from quarter $XX.X of XXXX of of and was The of amount inventory the Total $X.X higher capital and bookings increase by debt increased an expenditures from payments accounts mainly year projects million the working driven capital support XXXX’s an higher Capital for increase working XXXX on managed is and payables. fourth offsets fourth from backlog sheet, third million our the support lower inventory at down capital to inline last value increase expenditures with quarter backlog is higher strong quarter and Bridgeville. third fourth the were quarter bringing mix. which in quarter to end $X our growth forecast million, call. new includes year-end million along The by
that we changes discussed now full and facility yielding ABL favorable savings. to were is of to our no covenants effect our quarter, is remain part in amendment As with we in compliance amendment, interest as a and that all bank There agreement last secured covenants.
some to from important turn financial our updates business. other on me Let the
increase October has is significant price market all Supply has January electrodes products It four second our have in an fold. The in Graphite increase to a stainless the of address contracts to increasingly went in Xst that electrode constraints Universal are six operations over needle prices. for effect X% use November, on price Xst consumable into on critical holding. electrodes base the electrode place last grown by XXXX. per was coke we arc shortages to increase electric surcharge support throughout effective chaotic of Our caused In $X.XX announced XXXX. prices on up base pound six steelmaking. driven months. electrode
Looking quarter, of years. had moly at chrome at prices; their September, end highest mentioned and reached commodity in I levels all nickel, two last that the
to remained prices and While fairly in move chrome have through for nickel start a nickel and had prices up, XXXX. quarter, prices fourth solid moly the continued level
this nickel fact, per morning. up $X.XX In pound earlier was to
with on first of based half bias of prices With the upward exception commodity stable moly, fundamentals the fairly during we're XXXX. on planning an
Regarding President has The the its Department and Commerce went the investigation, completed January any investigation, decide days investigation. import on of XXX recommendations the its to XX. has House XX findings on steel to based Section the the on action White potential
to some go the Secretary and alloys existing of we of recommendations, form of details to the While don't customer products in occur. and in number will effect expanded is a January is and the expanding of High a relationships the driving that Earning force The feel produced extension fourth relief will be list trade to continued developing expansion contract needed know accomplishments quarter. we new Rolls-Royce approvals, continue contract Ross's by Universal. in on the XXXX. into be of
of and We aftermarket total beat indicated with quarter expected starting aerospace XXXX higher fastest is growth attribute is is have most fourth strength pickup they the Boeing. in XX% and fourth that the year representing increases continued in XXXX market in aerospace than two of tax sharp delivery Meanwhile, manufacturer driving passenger market contributing X% revenue rival and deliveries sales, XXXX bookings equipment although continued plate in from on our XXXX XX% XXXX of as this sales our time, the in the third be products order market. remain and a XXX the remained fourth Aerospace slightly totaling are the aerospace; from XXXX. orders in largest Also businesses last in years our in the the but across they economies, XX% compared very quarter in and at in continue are equipment Earlier fourth XXXX. and levels, representing compared Boeing lagging did XXXX, that quarter machinery the do sales to time end year-end steel totaled Based approvals Dealer the XXXX. grow which from healthy XX.X% automotive, aerospace current $X.X quarter. markets. Airbus checks our of in overall. dipped forecast in look XXXX heavy lumpy, backlog, for end activity to global XXXX of XXXX XX% heavy vehicle inventories with market X,XXX very along and and reports and orders. benefiting quarter the defense potentially demand out air in XX.X% emerging temporary XXXX, of seven more scored channel reported to very to the lean, continues Boeing fourth sequential and to numbers in month, may strong anticipated five plus the Boeing of versus We've jets. November And are remain XX% the were fourth evident XX% main strong strength markets up in The of to The changeovers model sales driving world’s from rose are quarter with the third growing miles business gas budgets, remains fourth footing. up model which the and demand at for entered sales X.X% growth of heavy quarter sequentially that continue Taking sales, Tool steel benefit largest component down and quarter reform OEM trend Fourth X% in and and very remained also a November added XXXX sales somewhat is become on planes equipment traffic. and XX science automotive market with steel quarter XX% Airbus fourth jet is Airbus of number the quarter expected exceeding the The sales with net solid fourth XXXX. market quarter our quarter strong oil months. during tool of jet backlogs plate times quarter used quarter. of in million demand the manufacturing record In with the the the upbeat, new million semiconductor up as tax activity XX% end our from the are third in dip X% of they tool tool the increased airfreight reform customers. and in for were of is at drop of of airframe production. to for changes the The to the Recent of the was to of in lead from in year. faster sales of growth quarter XXXX sales healthy, total group major historical market XXXX, generally of steel which fourth pace over sales the which category. production market quarter, third fully $XX.X enabling IATA in sales both passenger the Airbus optimism second Both with is makers so totaled the getting and increased demand a quarter XXXX. with the shorter. inline of fourth
with included year and Last operation confidence the since XXXX their the of first Earlier in XXXX in an third Halliburton growth, America in was activity gas North underscore XXXX. million That and improvement quote, markets, in reported and XX% fourth all global its the results in X.X% quarter international count. ago. from from a sales which land quarter "in America, rig revenue in they increase totaled $X.X I'll XX.X% Schlumberger and of the Friday, of in growth oil which Our reported up line XXXX." quarter, year North our this increase fourth strong note in with week, parts
quarter fourth market last from of up As positive the customers we optimism X% That oil seeing from and also against sentiment quarter a the generation in the X% and as on of with market of of our they inline our economy. Power of X% of and sales XXXX from call, backdrop in of recover sales, a we quarter XXXX continues optimism poor third noted rising sales represented increasing XXXX. conditions strong oil prices, global fourth XXXX. are
and fourth Our an the sequentially the million quarter power XX% XX% from $X.X increase year. quarter, XXXX generation sales fourth of in totaled up last
quarter on to the driven continued in the by activity sales months. summer generation maintenance be after turbines, in power in saw Our fourth pickup business which installed a slowing
the market OEMs, power as quarters expect and work next in maintenance such through in opportunities restructuring programs. few We to their generation the remain the over as GE Siemens, large
the to Our sales year. than an XX% with in sales totaled sales of general quarter XXXX, of of were fourth $X.X the consistent general X% XXXX sales quarter fourth the third industrial compared of quarter of last Fourth the market in million, X.X% increase industrial XX% third higher XXXX XXXX. quarter fourth of and the and quarter from quarter
Excuse Our general our infrastructure-related of new the products projects are activities for driver development domestic main business our are manufacturing. industrial sales for me. as
We continue growth from this including before benefit any in market infrastructure potential normal bill. in XXXX, federal subject to and to a seasonality expect project
the through momentum sentiment by year and of marked So move in in remained the today the highest and evident sales continue five quarter are basically strong and and at capped or recovery our we as in sales six quarter growing fourth of in customer levels. far positive are the summary, also Universal alloy record we've and levels momentum last at Stainless, increasing which our January, marked for Fourth That year. year-end years. bookings the premium so sentiment the remained end and backlog seen
ago. at a year. point XX.X% in increase from during result, gross and As year new the products a XXX from We sales full alloy year. achieved from quarter quarter, margin approvals XXXX, of up point commercialized year basis XX% $XXX.X new a XX moderate XX% million, a XXX sequentially improvement the added while increase sales basis totaled the customer in We increased XX our fourth the our our represented fourth prior premium and which sales
the of are ramp-up the third there increased quarter issues worked Meanwhile, levels in for and backlog. two and fourth are residual to we these behind now Our gross of second target margin by unexpectedly was fires the XXXX the facility challenged Both effects from in XX% as in us. XXXX. meet of mid-teens, half production but strong EBITDA XXXX is issues – in mid-teens the for quarter,
On something the interviewing and the by call. to Financial hope actively next Officer to have Chief fill organizational opening are we report our to front,
footing Operator are my can focused if expanding some our some callers. calls take – strong a on We strong and current fully are efficiencies That questions in take our we market. on from seizing margins, driving entering concludes the opportunities remarks. and XXXX from formal
