costs, us Good were challenged growth, by by misalignment today. Thanks, for unplanned the in surcharges was we and time, several alloy material December. At outages weather same in conditions fourth Thanks morning, and XXXX June. premium important quarter of everyone. especially very The line joining marked top aerospace difficult and products. of
backlog high million. aerospace sales XX%, to hit To order summarize XX%, alloy quarter, premium fourth sales the net third XX%, record jumped of new a increased compared quarter $XXX the rose sales
third X.X% in the margin from declined to quarter. However, our gross X.X%
$XX.X the of volume increased the to The and Let shipment million. higher due million. quarter fourth positives. $XX of to rebounded quarter $X.X with and all-in $X.X positives me sales pricing sequential million was for drill increase the Net beginning negatives, into million
of sales increase, increased the to $XX XXXX XXXX In highest quarter million of the addition were Full quarterly and $XXX.X XXXX. same quarter from sales up to the XXXX. first year XX% versus the million XX% since
year record Full Premium or sales fourth XXXX. XXXX sales, of million of $XX.X alloy to the a a XX% quarter $XX.X reached increase XX% of strong. reached year main in of from compared sales Robust a XX% quarterly million increased full of the of demand Order continues in aerospace quarter. be XXXX. high the record backlog, growing has to fourth remained which new entry the our driver
two Jackson, is XXXX. remelt expand technologically for we has portfolio moving equipment with addition by integration operations the news, these of vacuum to and delivered positive The and of namely in install our other goal are additional furnaces forward arc products. higher-margin premium North commission into with In capital QX been to advanced, furnaces more our project now product our
Steve will new a related report. facility, agreement the X. reached completed hourly facility going bargaining we have agreement Dunkirk the at we three-year financing financial collective a which effective in forward. November North comments flexibility with At this our million lease Additionally, our $X expansion increases his the Jackson employees remelt on to more in year-end,
In QX XXXX in were Moving year a to costs. drop were when million peak. due $X.X year quarter, which in to The third of in most the through fourth impactful fourth the misalignment melted between the surcharges earlier quarter negative and quarter fourth quarter prices, negative Fourth we their were in challenges. broad-based surcharges and level the was commodity the at the material lowest shipping quarter. continued commodity the the prices products began late at
in December. region Frigid weather hit our
took with to contending was some withstand in extreme are not bitter teams steps cold prepare, we the our able equipment temperatures. and to of While in experienced our
impacted production maintenance negatively localized with dealing spend. related freezing pipes and result, a increased As of flooding and
hot were equipment December the but output our facilities They would we key work lowest months, the North highest beyond by of year. approximately There outages to These the centers a monthly that per were quarter. for where gear Bridgeville the operating Bridgeville equipment at related those hours to shop in the lost melt in of forge, six the the hours year. The lowest $XXX,XXX profit occurred include in December. gross additional reduced where several by sequentially. the operating mill hour XX% unplanned in AOD Jackson unplanned outages key weather fourth was In warm hours leading at operating declined
to are XXXX. start has situations off Each been and these in resolved solid of a operations
wrestling Like trend most were that has have I shortage. continued. last reported call, our companies, On we applications labor and increasing, been manufacturing with nationwide the that
increase Our XX%. the XX employee or is since XXX, now last an count of call
Our accelerates. outside to a employees new is reduced and workforce of from contractors been of which reduction. XX, a as focus XX% -- rebuilding the have of trading our is Onboarding area major
extend chain parts, rate. times on work. to supply continues, reduced improving, inflation a particularly turnaround lastly, at for repair albeit issues, continue Although And maintenance
a quarter sales or $X.XX The the million to per net the quarter. with diluted margin of quarter of gross compared these fourth was result $X.X $X net loss $X.XX for loss in million the X.X% was XXXX of of $X.X third or declined net share The third of in XXXX or issues the XXXX. sales versus for all million quarter X.X% of
of Protection of million, XXXX, diluted million. $X.X for XXXX. that included gain for XXXX year quarter was net $X.XX per EBITDA a fourth to due year a XXXX of per adjusted versus was the share Paycheck full $X.X EBITDA loss while loss net forgiveness of For from diluted share the million $XX term Program. note was $X.X million Recall the full $XXX,XXX $X.XX a or the or
compared a comments A on $XXX.X September reflecting quarter, $XXX.X in XX. process. versus the $XXX.X Total XX, working million here well supply delve of as December few was the and at material on $XXX.X as chain Managed couple million in financial hand through position. issues reduced costs million lessened in on of minutes. basically capital XXXX with working and Inventory our XXXX was material raw was will Steve and work at have into debt $XX.X year-end million, end third million capital at lower to flow that lower
reported in strategic largest million XXXX. $X.X the quarter arc the furnace as investment contributor. vacuum the $XX.X full million expenditures year North Capital was were for fourth The and in Jackson
to commodities. Turning
mentioned, surcharges a material in with I produced in As fourth XXXX. products due level the at costs commodity shipping prices a their drop we higher earlier were at in were lowest to time quarter
averages time generally As is and -- production six shipment a is production typically production shipment and about a months. two-month reminder, time there the and typically on between surcharges lag between
for were for back when current nickel you per the was scrap range, at per pound, to December shipments set. $X.XX had up And to a the April, to pound nickel while in had fallen $X.XX produced of in the per trade By month near Since basically and example, has recorded lowest to $X.XX in has pound while the scrap XXXX. that's at $XX.XX products pound. of price pricing. look per pound surcharges even continued fallen nickel pound, scrap For as per moved level October, $X.XX $XX priced but was the then, $X.XX to higher
is that here have commodities The key been takeaway volatile.
February few is grade. costs through mitigating The half on Material the work reported as depending will are production, upcoming and impact the are lower QX through X% are the a we misalignment we first fourth sold material and as XXXX inventory in which are quarter move towards current up upon published XX% Universal our Some up early that January surcharges down. from to and for months.
fourth XX% to year turn increasing our the Aerospace full quarter third markets sales and represented XX% year XXXX for demonstrated XXXX substantial end sales. Let's minute, or totaled of is for sales with beginning of sales to aerospace, a total quarter up also from fourth That's $XX.X and XX% XX% growth, million million. $XXX.X of XXXX ago. which XX% quarter market. a up Aerospace largest the from
continue to ramping XXXX cadence, point first, increased of reflects activity, and a indicators year driven chain towards activity lean inventories, beyond. improving positive supply three order rates, All which multiple build for delivery momentum by factors: aerospace expansion suggest all
Consider XXX were XX% XXXX. best year minute. the Full were [ph] up QX of XXX XXX deliveries or Boeing XXXX deliveries from to from up for a planes, year. XXX,
bringing is fourth reached substantially your many XXXX orders rate assumptions. production from planes planes, backlog the regardless New planes, total X,XXX up XXXX. XXX Year-end the to quarter, in years of XXX of production
nice it double-aisle book the Lastly, to was a Dreamliner in recovery drive order, increased see large will thesis the in XXX Boeing which XXXX. which of metal production XXXX, supports
Airbus in aircraft commercial the despite continue Turning environment. Airbus reported to Build orders. problems operating termed were XXXX. complexity delivered and improvement as and XXX rates X% new all and ramp-up trajectory reflect their the to above deliveries reflect announced Airbus they've XXX Airbus.
XX% November levels. traffic and drives carriers grow increase air million total which TSA second aftermarket. compared versus year indicator XXXX and reports the is million a reports in XX% versus that screening in previous American year. very date air International XXXX. January or November in XX% passengers reported The of And rose IATA traffic this XX% January X.X XXXX North in to X.X traffic pre-COVID of that on continues X to million November. November in travel, a in on active rose X.X XXXX
more request. and for remains Authorization third, in original than present's defense The outlook $XXX remains calls XXXX strong fiscal billion spending budget the Defense billion Act $XX And National defense positive. spending, the
remains aerospace overall, robust. So demand
in come, sustained engines, through are good will that pull In be growing the The speaking manage whether years will is and which environment news all consensus with is of is or for about demand. conversations to XXXX to our structural they beyond a us. respond strong to many customers, that for how there
than were million is equipment totaled quarter off sales, of In Full year largest XX% sales. XXXX million the fourth fourth quarter XX% XX% sales our of XXXX market, third sales or heavy our $XX equipment in second market, $X.X the XX% of heavy and XXXX. lower which 'XX or quarter the
to equipment in the fabrication especially drives market, automotive. demand our heavy Metal sales
over and cautious downward Our recent trends heavy sales past at trended who amid remain prices. concerns in market XXXX economic of in bought end key as year the the the customers commodity
move made investment commitment new to factories U.S. U.S. quickly. assembly the auto plants and Nonprofit to said, vehicles of for automotive for continues electric battery-making vehicle total placed been of Research, electric the Center new construction the to to has changeovers through According and That in in industry battery facilities $XX mainly model a huge Meanwhile, XXXX. of manufacturing. for has Automotive a November billion
quarter as begin XXXX, customers we the demand replenishing For Universal, cautiously are proceeding we each through in expect to our inventories move improve as we and year.
million The the quarter Full higher XX% from and gas of were than market of of million market fourth 'XX XX% of XXXX. our an was sales, XX% fourth $XX third or X% the up third end with quarter XXXX $X.X increase and of sales sales the in largest oil from of year quarter XXXX.
outlook a the exploration announced day U.S. on the forecasts by in There's U.S. will consensus barrels gas million million day activity Administration and U.S. oil supporting X.X world largest increase by the outside production per and past additional and of increased that majors. XXXX budgets underinvestment producers with growth Information virtually barrels an five increase occurring X.X in other Russia all the over exploration growing in shortages, non-OPEC the and the oil based specifically, XXXX per in Energy More the current in supply years
and East, announced the Permian U.S. of distinctive including global in activity cycle a Middle largely land the $XX activity announced at in the phase of new Chevron gas, spending Schlumberger in offshore acceleration XXXX focused in and the capital oil up on billion, Basin.
inventories confronting over definitely the next For suppliers, many operating oil bullish Universal, provide European and increasingly several chain current and the years. metal will additional supply sentiment, gas given opportunities difficulties
market an or the The general industrial market XXXX sales total with in increase -- largest of from of of XXXX. $X.X quarter fourth sales, in XX% fourth million was our X%
equipment Our sales markets. to general semiconductor the markets, general industrial especially market manufacturing includes medical and
for I call, that billion in $XX despite QX U.S. sales by semiconductor reported chip quarter in healthy said industrial in have and exceeded $XXX level forecast current projects pledged globally. last same expected the the as we subsidies. incentivized in to manufacturing general QX. the the On clearly companies years, billion sales recent low in our fourth federal be We
I'm for there the over changes be While XX sure Universal customers years, the over positive next and term. we will for view trends long as and our delays these
remain expect sales very Looking at industrial to we XXXX, healthy. half first our general
XXXX. market fourth XX% was and than million the sequentially XX% of in fourth sales or of the gen X% Power quarter, quarter lower down $X
up other generation of the On from sales were hand, year power XX% XXXX. million full $X.X
and about not Demand new there generation spin builds of is for maintenance has our gas in businesses has being transition off and play to that gas for energy turbine years, industrial any and sales most also turbine account continues XX its and in company remain used sources. GE to market gas power the in manufacturing. stable gen electricity news XXXX. turbines plans and much and late the GE key of to wind to noticed to announced next a new over gas energy gas, will role a renewable expects
formation the we some GE new build maintenance a drive may generation expect to years, on new demand While of translate coming focused in to company foreseeable to business for the energy future. opportunities our power continue
turn me financials. a Steve? for Steve dive call our the Let over to into deeper
