and build backlog, Thanks to bookings, in momentum positive driving Thanks in joining for growth morning first in aerospace June. the everyone. Good demand sales. us today. continue exceptional recovery quarter, increasing The
to Specifically, before $XXX.X a of of million new million backlog $XXX.X at year consolidated XX% reach end XXXX from increased record the surcharges. record
alloys XX% increase in of the March of month total including premium XX, up strong On ratcheted a backlog each Our backlog. alloy products. represented premium quarter,
increases A $XXX,XXX couple quarter. recognition the which plate and in sequentially points totaled increase approximately to $X.X operations million of reduction in The sales is $XX.X prior the quarters. three product announced miscellaneous backlog increasing revenue Net million or or quarter base $XXX.X fourth Finished respectively. sales and shipment from for XX.X other by XXX% of of changes increases. want products excellent a and sales from Shipments alone. volume of things; million; unchanged load first bar three increased over adjustments. totaled one-third and sales to last XXXX. bookings pounds, did strong QX essentially million million over and monthly is the due base record to benefit and comprised scheduled Given $XX.X XX% several eight September the were XX% year. noteworthy surcharge The up from year, to million for booked and and before surcharges, of on all before not million, an especially were make backlog million; with I last price XXXX quarterly four of of and sales lead-times, of providing since, $X.X today's growth five including increases XX% reflects quarter $X.X We've price in the mix from in next XXXX XX% the September past increases $X.X sales.
premium higher to in and impact. the mix of million kick XX% increases of alloy quarter. XX% XX% the quarter We alloy over in. of sales improvement quarters our to with million Premium accelerate also strategy. of first sales of The A $X to of favorable sales mix of $X.X represented price to million expect consistent long-term finished reduction products fourth the total in impact compared play as shipments lower priced subsequent rose directly bar sales and the priced XX.X% contributed positive products next increases $X.X benefits price the sales increased attributable product few to is and
first quarter. in is the the order that excellent continue up expect out solid and point we XX% should I Plate per business. to year However, backlog plate in was entry a plate
XXXX improving seasonal quarter expect each trend subject to upward higher moderate prices, and mix. We factors. to towards Current sales also of stronger backlogs volume, point
first we quarter the margins XXXX. to of would was X.X% in X.X% sales that call XXXX do expected said of $X.X move profitability. double-digit of first to year. X% on or through the last I of our quarter a than quarter versus margin the Frankly, Gross half gross we turn in better expect in first I fourth last and X.X%. as minus million of Let's the of sales sales
that three benefited at Looking more quarter takes, and by three than margin items were last in from challenges. the puts offset profit the gross
at positives. the take let's with one So, them a time starting
First Jobs million first Protection profit third about second under impacts estimate Manufacturing in $X.X by a gross the estimate We increased Aviation gross $X.X to between $X.X QX was quarter upon quarter positive quarter. of by sales. and Program. was received to margin $X.X grant in certain X.X% million The million is minimum and the costs favorable the benefit Without grant a gross quarter recorded prices of surcharges million maintaining in compared profit and We a or grant, profit levels. material manning the $XXX,XXX X.X%. misalignment added contingent the
three profit. by than mix melted favorable the of These products Lastly, offset positive increasing had more impact premium factors items. gross a on were
outages early receipt delays and of timely ongoing critical intermittent materials, in facilities supply the key challenges in transport, extended including resulting delivery quarter. limited parts, of First, chain raw of production
virtually all of inflation ran in increases and in supplies price the ahead first quarter. of operating consumables the price the of benefits Second,
spending, and unchanged. fixed first trend in the unabsorbed planned lower reduced $X the issues such replenish additional major the as the on our Forge Actual grant. The quarter. was X.X%. about turned remained and outages consumable monthly margins completing resulting led XX.X% quarter and of reflects the February, of profit impact. selected aerospace quartz key cost in gross re-melt million the operations. In addressed at hit already negative P&L fourth Third, grinding during inventories. when compared facilities to impact fixed the these And in our impact costs margin production than we absorption quarter to we maintenance X.X% the rolling profit gross In January, equipment, hit. furnaces We've Sequentially, March, first fixed of margins. lower before however, hot by We
and our Russia, are chains China, We and raw from concern. supply exposure de-risking related to part material of Ukraine, areas
impact the implemented in the update profit Lastly, favorable and in have contribution steps spill on confidence price levels I these will our have second and backlog we a production record and increased last provide call margins surcharge increases an XXXX. will will and in a been each on us our I'll margins rise, their All that margins deliver give quarter. quarter. coupled grow we the which could double-digit an through described move as moment, with
about XX.X%. essentially $X of the selling, general, same XX.X% XXXX, fourth declined a as from quarter quarter expenses the and as First sales approximated to percentage but million, administrative of
SG&A for few quarters. next flat expect to remain the We expenses
XXXX compensation. loss in $X.XX the estimated virtually due tax months $X.X a estimated first XX.X%, in three and per between million XXXX, income development The an and March federal the XXXX for to rates XX, federal statutory ago quarter the to ordinary credits. to annual rates back Year $X.XX The difference fourth $X.X XXXX. effective diluted for $XXX,XXX after differ, XX% identical XXXX due the research estimate or benefit expect expectation the was was The stock-based and primarily was of For quarter were of EBITDA quarter income EBITDA primarily tax both or annual of tax million for expense adjusted to adding share. of per million is loss share, an tax diluted XX.X% rate million $X.X and and net compared was XXXX. annual tax rates ended years quarter in XXXX and effective to respectively. our income applied $X.X
supplies in the in Inventory to fourth The of high of XXst. the due raw million a move offset $X.X with $XXX.X capital volume inventory. rising million cost. increase occurred cost. million million increase a $X.X to $X.X to is and short, The to price of XX% the receivable, due million higher was volumes higher March $XXX,XXX $X.X million. increased million quarter $X.X a our in due working financial to from $X.X decline was position. work in by parts accounts lastly, increase with to million sales increase by to from There material lower $XXX.X to the increase process, Let's materials in in the and on in comprised of quarter increase first March. QX million increase was in mainly resulting inventory. million $XXX,XXX the pounds of million the -- in there process, due in of $X shipments from of materials end is month work from inventory to $X.X to on to not Approximately in due March. million increased material increase a on $X.X a increase And in due an XX Managed $XXX.X December volume
Lastly, increase accounts the the million quarter, first down than last spending million inventory. quarter. the offset $X.X increase payable from in in in more $X.X was $X.X Capital million
vehicles debt anticipate demand. at $XX from at the the $XX.XX $X.X which ramping sequentially. remains XXXX. sanctions a with nickel $XX.X Taking of million, is year capital million $X.X December push of increase end than a on We end. some at specialty million, of its good into and in Russia, mineral spend than While production and finished spending pound, liquidity commodity about market an year, double electric total year chain supply million to metals nickel, price prices, we still quarter higher delivery in March due more XX% tightened million ago. healthy may shape this The uncertainty $XX The up of especially a recent and ended
commodities our price products up well of the February March, price December, products cobalt affecting ferrotitanium an inflationary increase products business up in strong scrap to doubled while run January, the chrome the increases as more XX%. Due of end by XX%, beginning all than up vanadium and increases in increase from base bar XX%, all and nickel, price was we've A for plate year. sharp cost there since ups to the and as for increases addition in areas announced four In of nearly other price in and the April. for March. end Both were of
to our Bridgeville. metal and during at breakthrough other on one the electric at Moving -- operations. of No on had April spillage was spill arc no liquid furnace facility announced injured occurred operations All by continued melting The the to Since in that caused We parts time there and the was XXth, and was we have normally. bottom in impact. the subject shell. spill, have to environmental No time April anticipated. the damage in resume operations to of to been said melting process product availability. expected in schedule of at to we contractor delivery cleanup the the near-term We function interruption eight assessment. six weeks, operations
Our to team's doing of an be expect the end the estimate. on outstanding XXrd, that resume job melting we low of which and recovering would May week
While there be unknowns charge asset are are these will still million of $X.X required. we of $XXX,XXX $XXX,XXX estimate the cleanup and and cost in and about to the repairs be range to preliminary, numbers
We our deductible have $X million in program. a insurance
mitigate impact are to We partially spill. additional of the taking the steps
meet Specifically, other to within our commitments, plant. affected grades we are to redeploying and productive securing employees preserve utilization, downstream We're purchase maintain workforce. asset melt selected also for roles the customer
induction North is several them was vacuum there the of commissioning spill quarter. completing minds the were milestones right Among Although new in reached uppermost first melting the the now, in XX-ton Jackson. metal during crucible our operational
end along additional As our support support Universal of and coveted year for in we validating passed safety. XXXXX $X the employees also to our XXX% applied in significantly entire Jackson and capacity been The melting processes. XXXX. to and of of efficiency induction portfolio. has our growth products like quarter Bridgeville have our joins be and achieving the growth at vacuum million expands years, vacuum melting recent with occupational the process of have mark also plants crucible furnaces and melt premium vacuum ISO the ordered working to health been of operational improves earn efficiency in be alloy in safety our to all the We're our operations. North proceeding trial two our Bridgeville the our customer re-melt at late testing discussed, in the team commitment effectiveness to acquisition orders. demonstrating inventory the further with expanding facility the on three product which by the I second installed furnaces to congratulate Certification and certification will other induction safety
Let's we're aerospace, to markets, turn market. in with our beginning largest
$XX.X from XX% quarter. or first aerospace million $XX.X in sales quarter Our increased in fourth the or XX% to the million sales sales of XX% of
not comeback XX% traffic travel domestic increase rebound Ukraine in that the IATA the XXXX. first gaining quarter. from increased war sector, XXX% traffic. Last air general February substantial air recovery increased February aerospace a same second air quarter to a quarter doubling accelerated up report, for reported in bookings the XXXX. Our in in growing I from is first the recovery more improving in impact and quarter factors strong in increase In February sales accelerated due numbers. a the IATA traffic. airspace since January and deliveries, and on return of factors commercial comparison same said traffic travel was of Those noted posted included activity, highest in and a to than did the international travel that a the those have aviation. of The year-over-year were its -- freight Among defense spending, these factors major recovery activity traction
market recent MAX strong expected However, return the accelerated lifted." as were consumer available. to March in to strong demand its and rate by The "Historic XXX book break order week required airplane end so a received meaningful noting materialized with quarter of performance January, and numbers and the business Adding to restrictions Qatar from Russian to are more an airplanes from increasing major continues year, seeing due I'll new XXX faded, backlog several through Omicron commercial since Boeing, They Airlines, return Airbus, even service. the bookings has freighter travel, of it from Boeing's XXth. quote reopened Boeing of Boeing travel Airlines that spring orders Boeing's month levels be Airlines. not of and the reported targeting offices is has case. the XXX-X Its to ramp by at which of flaws orders air deliveries delivery remains area structural X,XXX January. per [ph]. airplanes year. At to accounting highlighted emphasized XXX and way. worth as reductions totaled can step-up proven introduced accompanied XX of activity that sales has travel Delta XXX as DHL, month by Western per opportunity MAX through in wide-body management's sanctions Even evidence the estimated rules in At resume before as and yet by last up a Boeing a aircraft, its airplanes for major that Ethiopian work supported now the XXX of X,XXX commercial increasing XX build the production April the in this Global, last it's
aircraft. year backlog February, On on Airbus commercial Their to said its X,XXX priorities deliver aircraft commercial its and on their main its backlog strengthen ramp. order at call are XXXX conference was end
requesting surprising. heavy move $XXX month, rate XX approximately XXXX administration remain that level enacted beyond approximately that XX fiscal is next while the airplanes during Xth million per July by barrel natural and up supply year billion, XX yesterday, oil erratic production this as equipment to a recognized the on and million XXXX Airbus market to our natural XX.X% emergency quarter. of lower our are XX% $X.X part heavy quarter. Even last BTU, As month, half plan the was is in their market strong the call six than months prices quarter. airplane from and DoD line AXXX XX% sales in Heavy in sales first per response year first alone. March our was Boeing to to their I by of and ramp $XXX per XX% crude quarter based from the healthy. and closed driven rate in that the in with were levels XX and XXXX, quarter, billion for closed XXXX. unusually on to XXX customers, $X in is moves the At $XXX with per Ukraine, lumpiness barrels XXXX to of and Russian XX% gas -- war planning of over million quarter evident demand remains discussion in per remained with in release in equipment jumped $X.X by of combined of in chain XXXX. of fourth defense sales sanctions, as expect sales They XX heavy second call, Oil $XX XX oil but quarterly pandemic. our up prices backlogs up January, IEA higher fiscal market. of $X.X automakers. month family, seven-year the and increasing may Metal we dramatic. demand XX% build and reserves current demand, on month last to to equipment $X.XX largest which continuing decision that build per the all XXXX bookings production The pointed by to committed sales pricing model X.X% late and market the changeovers second a gas high by sales and of so Volatility close XXXX. remain compared with XXXX, in end be increased month sales gas to or at Based narrow-body submitted Since sales a Last in X% gas and time to equipment million our approximately XX% fabrication the for continued up limiting. that's has budget, the liked of level natural order has with in first and to on quarter our industrial late order to cold aerospace increased the on largest Demand increase and the multiyear typical Later weather, million barrel, forecasts been that prices equipment backlog high fourth up market of The sales, of drives X% to at oil capacity supported oil or not in or a demand closed first in and our up in which third the in of market the current our Airbus. the
to be to oil may activity on continues settle, hard Baker a prices get Drilling it where While by gas as Rotary will fix the Hughes and drilling evidenced Count. Rig increase
General an As ago. U.S., the week of increase the of from year from of April increased sales U.S. XX, drilling totaled the to metal were up active million XXX activity XX period Higher International total an the end XX% to inventories XXX before two last but up chain therefore, during week, in to activity will in more maintain and of rigs. in rigs X.X% the the good increase and private Xth, quarter from in rigs The continue fourth million discipline they drilling of April the rigs and same that year. commercial XXX to appear in their spend industrial of billion and not companies estimates parts upper demand inventories, seeing for and low U.S. produce April at X.X signs activity getting that supply expectations, $X.X oil first Energy increase XXXX. recently increased totaled of oil With drilling only inventories level the initial was from for shape. $X.X quarter. forecast would add ended equity the lowest while major the barrels, one up a market We're in the demand the the leads but sales, from since level more Information or Administration first of analysts at internationally, slightly quarter and but capital operators OECD them. be February,
sales manufacturing same first to our driver semiconductor Robust February month industry of the this industrial the medical semiconductor markets. of in growth reported Our general market. general Semiconductor semiconductor the global XX% in demand XXXX. sales increased and remained quarter industry the includes from market main
benefit At Americas sales expect to increased continues general of power reasonable terms the customers. seasonal future. in the not increased from opportunities XX% $X.X industrial to case continue foreseeable generation major last in quarter, or turbine sales million million for from While XXXX. X% gas maintenance our in has that at OEMs, generation Power it the compared materialized there our aided market of demand the we and of A be demand while be in XX%. sales to most quarter. to may sales expect first volume future for backlogs market our we increased $X.X pickup to Maintenance some Universal, account in
of EIA electricity same represent at industry solid more the a seven broadly, years. in industry the about that six the an XXXX. reported XXXX At of growth turbine in Looking forecasts will X% gas time, the or U.S. has over natural and analysts market next forecasted industrial generation generation XX% gas a rate
expect patterns. We modestly track sales XXXX grow to normal and in seasonal
operating Vice a moment fit I'd has Steve during had as of Controller Operations. role President served in an DiTommaso. he and since I take and and our XXXX, the time to which led for operations Before knowledge responsibilities He's university and our in and Strategy Universal's Treasury familiarity equally important Accounting and business strategic our because expanding looking like to of performance Development deep introduce Relations. ideal Corporate wrap-up, Steve financial operations. Chief with of to Investor share calls his because with management strategic and Financial working conference Officer of plan, future reporting forward Personally, and drive to I'm cash -- execute his Steve
