Key U.S. Regulatory Approval; Updating Estimates

Acquisition Expected to Close in the Fourth Calendar Quarter of 2024

Raw Material Headwinds Persist

Proposed Merger with North American Stainless Receives Scrutiny in Austria

Mark Reichman

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Haynes International Inc.

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Outlook for the Remainder of Fiscal 2024
The raw material headwind encountered in the second quarter is expected to ease but persist into the third quarter. However, based on the strength of the aerospace and industrial gas turbine markets and production momentum, management expects revenue and earnings to be higher in the third quarter compared to the second quarter of fiscal 2024. &nbsp;
Capital Structure and Expenditures
As of March 31, 2024, Haynes International had cash and cash equivalents of $11.5 million. The company had borrowed $103.2 million against its $200 million line of credit outstanding with remaining capacity available of $96.8 million. Capital investment during the first six months of fiscal 2024 was $10.9 million. Total planned capital spending is expected to be between $22.0 million and $28.0 million. We have assumed expenditures at the mid-point of guidance.

Haynes International Inc. (HAYN)

Raw Material Headwinds Persist

Fundamental Analysis:

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Key U.S. Regulatory Approval; Updating Estimates (HAYN)

Acquisition Expected to Close in the Fourth Calendar Quarter of 2024 (HAYN)

Raw Material Headwinds Persist (HAYN)

Proposed Merger with North American Stainless Receives Scrutiny in Austria (HAYN)

Inbox Intel from Channelchek.