US General Stainless's net profit and stainless steel sales in the second quarter of 2019 continue to rise

Release time：Sep 19, 2019 From：admin

According to a report released by the US General Stainless Alloy Products Company (USAP), in the second quarter of 2019, its sales volume was 11,720 tons, up by about 5.2% and 15.4% respectively, and net sales increased by nearly 7.5% and 17.8 respectively. % to 709.97 million US dollars, the highest level since the first quarter of 2012, including special alloys including stainless steel increased by about 9.1% and 14.6% to 57.017 million US dollars respectively (stainless steel increased by about 11.5% and 15.6% respectively). % to $53.183 million), advanced alloys (vacuum induction smelting products) increased by about 6.5% and 36.8% to $12.814 million, respectively. During the period, sales to the aerospace, power generation, oil and gas, heavy equipment, and general industrial markets were higher than the previous quarter. Year-on-year, sales growth in the aerospace and power generation markets declined for sales in other major markets. The aerospace market is still the company's largest terminal market with sales of $49.335 million, accounting for nearly 69.5%.

During the quarter, USAP's gross operating profit (EBITDA) decreased by approximately 26.9% year-on-year and approximately 17.8% quarter-on-quarter to US$82.12 million. Net profit decreased by approximately 48.3% year-on-year and approximately 70.7% quarter-on-quarter to US$2.086 million. The amount of undelivered orders at the end of the quarter fell from $130.1 million at the end of the previous quarter to $116.9 million, up from $104.2 million in the same period last year.

In the first half of 2019, the sales volume reached 21,880 tons, down by nearly 1.9% year-on-year; net sales increased by about 1.1% year-on-year to US$13,126.8 billion, of which stainless steel sales increased by approximately 9.4% year-on-year to US$99.178 million, for aerospace and power generation. Sales in the market were higher than the same period of the previous year, accounting for 70% of the sales in the aerospace market; gross operating profit was US$15.182 million, down approximately 24.2% year-on-year; net profit decreased by approximately 46.3% year-on-year to US$3.308 million.