morning, for us today. Thanks, joining June. Thanks everyone. Good
quarter, debt gross cash made in positive operations, tangible fourth sequentially, the the forge profit margins we flow, During operations. improved and generated particularly North Jackson reduced progress
increase million, included Our million net sales sequentially and aerospace total $XX.X for sales brings XXXX to quarter an to below It XXXX MAX is which sales lower-margin million, product quarter totaled XXXX. of mix probably the a with the compounded that deterioration by XXX in led XX.X% X.X% quarters down to in record as It’s $XX.X compared the worth market, in the quarter customer fourth to shipping from of noting $XXX.X percentage earlier also planning inventory year. a semi-finished shipment fourth the X.X% XXXX. a higher fourth that noteworthy of aerospace year-end issue,
the backlog been XXX minor and into to driver will far, $X customers. to said, manageable given cancellations healthy we’re to a uncertainty close current XXXX. especially customer million. major Aerospace be the That of MAX are push-outs our remains results a future and aerospace have our less going related several our situation, staying than continue Thus
Boeing the afternoon, to mid-year. digesting the target to currently is return date pushes service chain supply The announcement yesterday which
RTS process evolves. We are react to prepared quickly the as
fourth $XXX.X a with ended solid of and quarter Our surcharges from backlog the end December order of we entry in September. backlog up before slightly the and million remained
products. premium-melted of backlog record a includes backlog Our
moderate the signs market of of life semiconductor $XX on Order par market, and before aerospace quarters, couple last with surcharges tool million steel plate was the reflecting recovering from activity. entry a initial
million, in the or alloy sales, XX.X% with XX.X% and $X.X compared of premium $X quarter in of third XX.X% million, or or sales sales of totaled quarter of the sales fourth Fourth quarter, $X.X XXXX. million, XXXX
delayed our fire-related our alloy discussed has shipping on been Forge. were products that the premium As focus issues last at residual by on call, the Radial
we were into of quarter of first shipments in pushed Although fourth XXXX. the those the quarter, made some headway
hydraulic production We leading productivity fourth continued in North as costs record and quarter, volume forge achieved at Jackson the that June our the gains significant in operation from recovering lower to fire.
Dunkirk of resulting continues, mid-size unit die gains. Additionally, shale ramp-up cell the our further facility efficiency our bar in at our
Jackson cost to my remarks. posted operational return reductions highlights induction some continued later at shop in North melt our also We vacuum facility. melt our in I’ll
margin, in in aligned versus surcharges also The the as cost XX.X% sales XXXX which from were cost contributed of operating benefited with progress selling quarter. melt quarter of fourth gross stabilized closely and that third margin material declined. sales of in the X.X% totaled more prices our improvement sales sequential to Gross
percentage sequentially The of less XXXX to specifically due product of XX.X% certain gross profit below the fourth the was XXXX X%. favorable aerospace gross sales recorded of in The products. quarter higher lower semi-finished in products margin was fourth quarter, impact on the most period, of recent sales a margins mix
XXXX $X.XX September in fourth the quarter of third the was diluted diluted $X.XX share XXXX, which per to a fire XXXX. for in per Dunkirk insurance $XXX,XXX, facility versus $X.XX related share quarter of or income recovery included Net the in of $X.XX or
was in fourth $X.XX share. XXXX Fourth diluted income per quarter and the $X.X quarter with XXXX per EBITDA EBITDA or million $X.X Full-year in $X.X was in fourth of or of quarter million $X.XX XXXX diluted third $X $XXX,XXX, compared of million, the share. million, $XX.X. the XXXX quarter Full-year XXXX. income Net was was
million and will by quarter million reduced by down debt Total third was at in was $XX.X sequentially. positive $X.X Scanlon the $X.X Cash further financial million from quarter at report. and managed totaled flow his from operations $X.X million detail fourth XXXX. Chris in remained capital working year-end the provide
end down December. months, Nickel pound Looking quoted at September. commodity last the had subsequent $X.XX noted of the this the $X.XX more morning. closely prices reaching our of at in On at nickel stepped in was at jumped I quarter, ending that price call, $X.XX prices. Nickel XX% third per in
The moly lower at was vanadium and the chrome a year of while Vanadium quarter, up the fourth third performance were year. each decline key pound, than its impacted mixed Moly, prices end components in and month, commodity of at a are by and of in the at to production compared the chrome quarter. continued tool with beginning other pound ratcheting the unprecedented $XX.XX directly surcharges. $XX.XX the ending steel the scrap of
fourth activities, pound to by XXXX. operating pleased at are with quarter compared QX one bode pre-fire cost quarter for and XXXX, the through driving Radial are production. Record XX%, QX per of We fourth well throughput sell lowered cost down quarter Forge we as and which
XX-ton Vacuum operations for operating deliver costs to furnace costs will heats new will operating the million, which induction ordered quarter set $X.X body XX% compared reduce also XX%. for melting records of fourth another and reducing per We’ve in a XXXX. XXXX new campaign,
has consistently melt air Bridgeville each of in operations hour output improved quarter Our XXXX. per
We order furnace premium our Our delivery activity, another particularly strong fourth for in remelt and of state-of-the-art shops quarter XXXX the vacuum placed remelted steels. was in growth year. specialty an support arc alloys for remelting all to
curve, ultrasonic the automation testing. completion along X now expect just have growth further learning the the X in under installation with cell of up bar XXXX, the and We million volume new pounds Level phased on intermediate array and movement in continued processed of
consecutive precision shapes rolled $X year sales, of our year remains business in second and in at Titusville profitability a sales per million small record upon existing a poised third Although recorded backlog. year for record terms and based
largest to our with start the Turning end aerospace. me markets, let
of in $XXX.X the of totaled sales aerospace Full-year sales XX% from mentioned million, from in sales X% quarter down XXXX That’s fourth record or third XX.X% earlier. or as XX.X% $XX.X of sales aerospace million, increased million, a the reaching Our XXXX. of quarter XXXX, XXXX. $XX
Boeing sales the in remains backlog and yesterday, MAX has XXX the will do uncertainty during the our know I’ll situation. XXX mid-XXXX.” of we “the aerospace the is lower Although were ceased MAX of production begin quote announced undergrounding amidst What MAX healthy XXX regarding and quarter, the fourth that,
XXX-unit our a closely customers in situation, We in our yesterday’s communicated cut the production. are plans. that has assessing Aero view their supply has engine know chain, executed GE announcement. layoff of Spirit especially
and to know helicopter. below strong, are We somewhat macros of the but and staying to know long-term customers outlook to we long-term very the also flexibility supportive our quickly Defense close any particularly are that trend, Aero continues we remains We the MRO adjust and the business market event, for know to our In Airbus produce, business remains conditions. aerospace. maintaining
the the sales in and largest XX.X% market third fourth totaled fourth from the XXXX. quarter fourth of XX% with remained Fourth quarter quarter oil in our end and end sales, line of of and in with million, the XX% XXXX and XX.X% $X.X increasing XXXX. in of compared third of XXXX XXXX, the up of sales quarter to oil quarter gas sales The quarter gas market second
is remained to greater to sideways Last towards quarter, and but the more we softening, America Rig efficiencies. few Universal. characterized continue the growth oil international gas quarters. offshore market moving service active over fallen, Oilfield although next in are achieve guiding have counts North companies for and
The our Jackson. be active in oil remains and penetration Universal, unique for focused gas market capabilities continues and to expanding North utilizing market on our strategy
from of heavy down an third The from heavy quarter plate, market. equipment the primarily increase third was of equipment X.X% tool our which of sales, quarter Fourth quarter million, XXXX. totaled market largest fourth but $X.X are steel XX.X% the XXXX,
compared million, million $XX.X year revenue. with or $XX an-all in XX% XXXX the record XXXX, time $XX.X tool totaled million, was year. sales equipment heavy XXXX that Remember steel reduction plate Full-year an during for
and positive has number the our better cutlery. the being the that customer going dropping industrial XXXX somewhat is surcharges strong The already the by outlook steel and into automotive Current I’ve of supported news market first off-route a order economic in prices a demand XXXX, is for noted of in with but balance improved inventories changeovers tool tool XXXX. commodity and been first-half and results. versus strong a of steel effect on quarter, entry
in of quarter from XXXX Power the XXXX. Power from generation million the $X.X up the XX% of quarter generation fourth up fourth and market X% quarter represented sales quarter, which third were is fourth sales. X.X%
sales XXXX, generation XXXX, million. rose XX.X% power $XX.X from full-year the totaling For
industrial As quarters, near-term. spending, the change for generation dynamics turbines We over sales replacement market I’ve power mainly over the intend until reflect continue continue maintenance past noted many supply in the gas to we needs to materializes. see market maintenance to our seasonal little and
million industrial XX.X% of fourth in sales XXXX sales increase $X.X $X quarter. XXXX of million, XX.X% were XXXX. fourth from Full-year below were million Our the third quarter, the but general $XX.X quarter versus an market
China. with full-year markets. Our by due was market, in general general XXXX, estimated U.S. XX%, to hit especially semi chip manufacturing – The down hard sales mainly for sales includes reflecting with almost market and the memory deteriorating a semiconductor, to relationship industrial infrastructure the industrial semiconductor category market be soft
Association Phase Semiconductor the the MCA U.S./China more importantly steps pact for forward trade The sees signing the of Industry and, major of of the the U.S. X as industry.
pickup seen demand. in and We have also strong quotes a semiconductor,
That – review end markets. my concludes of includes
the over his turn to Let Chris me call Chris? financial for review.
