USAP reports significant growth in Q1 2024, with record gross margins and a robust increase in net income, signaling a positive trajectory for the year.
Strong Aerospace Demand Fuels Near-Record Sales and Enhanced Profitability
Q1 2024 Sales of $77.6 million vs. record $79.8 million in Q4 2023; up 18% from Q1 2023Q1 2024 Gross Margin reaches 18.9% of sales, highest since Q1 2012, despite $1.3 million raw material headwindQ1 2024 Net Income up 59% from Q4 2023 to $4.1 million, or $0.43 per diluted share Cash flow from operations totals $10.3 million, up 39% from Q4 2023 Backlog increases to $325 million on strong order entry BRIDGEVILLE, Pa., May 01, 2024 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (N