US General Stainless's net profit and stainless steel sales in the second quarter of 2019 continue to rise
Sep. 19, 2019
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. percent to $ 70.997 million, the highest level since the first quarter of 2012, in which the growth of specialty alloys with the chain include stainless steel, including respectively 9.1% and 14.6% to US $ 57.017 million (stainless steel increased by the same chain of approximately 11.5% and 15.6 % 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. Look up sales for aerospace, power generation market growth, sales to other major market decline. Aerospace market is still the company's largest end market, sales of $ 49.335 million, accounting for nearly 69.5%.
This season, USAP gross operating profit (EBITDA) fell by about 26.9% and growth of 17.8% to $ 8.212 million, a decrease of approximately 48.3% and net profit growth of about 70.7% to $ 2.086 million. Delivery orders for the quarter of $ 130.1 million is not the previous quarter fell to $ 116.9 million, but up from $ 104.2 million a year earlier.
Sales in the first half of 2019 totaled 21,880 tons, down nearly 1.9 percent year on year; net sales rose about 1.1 percent to $ 1.31268 billion, including stainless steel sales rose about 9.4 percent to $ 99.178 million, for the aerospace, 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.