HAYNES INTERNATIONAL Reports Third Quarter Earnings Results for FY2023
August 29, 2023
🌥️Earnings Overview
On August 3 2023, HAYNES INTERNATIONAL ($NASDAQ:HAYN) reported their earnings results for the third quarter of FY2023, ended June 30 2023. Total revenue for this quarter was USD 143.9 million, an increase of 10.6% year over year; however, net income decreased 43.9%, landing at USD 8.8 million.
Share Price
The stock opened the day at $48.4 and closed at $48.6, down 1.3% from the previous closing price of 49.2. This is mainly attributed to cost-cutting initiatives and improved pricing strategies implemented during the quarter. The company also reaffirmed its full-year guidance for 2023 and expects to continue to deliver strong financial results for the remainder of the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Haynes International. More…
| Total Revenues | Net Income | Net Margin |
| 573.17 | 44.82 | 7.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Haynes International. More…
| Operations | Investing | Financing |
| -27.95 | -15.42 | 46.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Haynes International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 688.21 | 274.71 | 32.48 |
Key Ratios Snapshot
Some of the financial key ratios for Haynes International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.0% | 64.4% | 11.0% |
| FCF Margin | ROE | ROA |
| -7.6% | 9.6% | 5.7% |
Analysis
At GoodWhale, we have conducted an analysis of HAYNES INTERNATIONAL‘s fundamentals. Our Star Chart shows that HAYNES INTERNATIONAL is strong in asset, dividend, growth, and medium in profitability. Based on this, we have classified the company as a ‘cheetah’ type; one that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. We believe that the company may attract investors looking for high-growth opportunities with some risk tolerance. Moreover, HAYNES INTERNATIONAL has a high health score of 7/10 with regard to its cashflows and debt, which demonstrates that the company is capable to sustain future operations even in times of crisis. More…
Peers
The company’s alloys are used in a variety of industries, including aerospace, chemical processing, and power generation. Haynes International‘s main competitors are Allegheny Technologies Inc, Thermodynetics Inc, HydrogenPro AS.
– Allegheny Technologies Inc ($NYSE:ATI)
Allegheny Technologies Inc is a specialty metals company with a market cap of 3.88B as of 2022. They have a Return on Equity of 13.59%. The company produces and sells a variety of specialty metals and alloys, including stainless steel, titanium, and nickel-based alloys. They serve a wide range of industries, including aerospace, chemical processing, oil and gas, and power generation.
– Thermodynetics Inc ($OTCPK:TDYT)
Thermodynetics Inc is a company that manufactures and sells heat exchangers and related products. The company has a market capitalization of 97.5 million and a return on equity of 831.89%. The company’s products are used in a variety of industries, including automotive, aerospace, and chemical processing. Thermodynetics has a strong market presence and is a leading supplier of heat exchangers in North America. The company’s products are backed by a team of experienced engineers and a quality management system that is ISO 9001:2008 certified.
– HydrogenPro AS ($OTCPK:HYPRF)
Hydrogen Pro AS has a market cap of 186.33M as of 2022. It is a Return on Equity of -9.52%. The company produces hydrogen fuel cells and related technologies. Its products are used in a variety of applications, including transportation, stationary power, and portable power.
Summary
HAYNES INTERNATIONAL reported its third quarter FY2023 earnings on August 3 2023. Total revenue for the quarter was USD 143.9 million, a 10.6% increase from the same period a year prior. Net income, however, dropped 43.9% year-over-year to USD 8.8 million.
Investors of HAYNES INTERNATIONAL should consider these figures when making their investment decisions. The company’s large revenue increase may indicate a positive future, but its decreased net income shows that investors should remain cautious.
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