Haynes provides FY24 outlook

The company said, “For the full fiscal year 2024, we expect continued volume and revenue growth, incremental improvements in gross margin, and positive cash flow from operations. The Company expects the revolver balance to decline in fiscal year 2024, gaining momentum as we progress through the fiscal year. Revenue and earnings in the first quarter of fiscal 2024 are expected to be higher compared to the first quarter of fiscal 2023, but lower than the fourth quarter of fiscal 2023. First quarter results are typically lower due to the impact of holidays, planned equipment maintenance outages and customers managing their calendar year-end balance sheets. In addition, the Company is planning a three week upgrade to the Kokomo Anneal and Kolene line in the quarter, which may impact efficiency and the mix of products sold in the first quarter of fiscal 2024.”