Haynes International, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2023
May 04, 2023 at 04:06 pm EDT
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Haynes International, Inc. reported earnings results for the second quarter and six months ended March 31, 2023. For the second quarter, the company reported sales was USD 152.79 million compared to USD 117.06 million a year ago. Net income was USD 12.35 million compared to USD 8.48 million a year ago. Basic earnings per share from continuing operations was USD 0.98 compared to USD 0.68 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.67 a year ago.
For the six months, sales was USD 285.46 million compared to USD 216.49 million a year ago. Net income was USD 20.09 million compared to USD 13.14 million a year ago. Basic earnings per share from continuing operations was USD 1.59 compared to USD 1.05 a year ago. Diluted earnings per share from continuing operations was USD 1.56 compared to USD 1.04 a year ago.
Haynes International, Inc. develops, manufactures, markets, and distributes technologically advanced nickel and cobalt-based alloys primarily for use in the aerospace, industrial gas turbine and chemical processing industries. Its products consist of high-temperature resistant alloys (HTA) products, and corrosion-resistant alloys (CRA) products. HTA products are used by manufacturers of equipment that is subjected to high temperatures, such as jet engines, gas turbine engines, and industrial heating and heat treatment equipment. CRA products are used in applications that require resistance to corrosive media found in chemical processing, power plant emissions control and hazardous waste treatment. It produces its high-performance alloys primarily in sheet, coil, and plate forms. In addition, the Company produces its products as seamless and welded tubulars, and in slab, bar, billets, and wire forms. It has manufacturing facilities in Indiana, Louisiana, and North Carolina.
HAYNES INTERNATIONAL, INC. 
