Significant Increase in Order Backlog
Order backlog increased approximately 50% from the same period a year ago due to growing demand for domestic steel.
Improvement in Safety Metrics
Year-over-year improvement in all safety metrics, with a focus on lockout/tagout/tryout and zero incident planning exceeding target rates.
Strong Sequential Growth in Shipments
Overall shipments increased by 17% compared with the fourth quarter, driven by higher industrial, automotive, and energy shipments.
Increased Profitability
Sequential profitability more than doubled, with adjusted EBITDA increasing by $9.4 million to $17.7 million in the first quarter.
Successful Cost Management
Manufacturing costs declined by $12.5 million on a sequential basis, driven by increased cost absorption and lower maintenance costs.