“Based on our team’s rapid response to the June cyber-security incident, we were able to contain the impact to within our third quarter. We are now producing at very high levels at each of our facilities. We anticipate that our fourth quarter volume shipped will be the best of the fiscal year.”, said Michael L. Shor, President and CEO of Haynes International.

Net income was reduced by an estimated $0.40 to $0.45 from the cyber-security incident and an additional $0.09 from the raw material headwind. When adjusting for the cyber incident and raw material headwinds, it is encouraging to see the strength of our gross margin solidly exceeding pre-pandemic levels. 

Backlog is at a record level of $468.1M as of June 30, 2023, an increase of $21.4M from the second quarter of FY23, and an increase of $130.0M from the same period last year. The aerospace business continues to show strength with build schedules and forecasts remaining high, showing unprecedented demand and growth.

“We are pleased with the recently ratified five-year labor agreement at our Kokomo facility.”, said Michael L Shor, President and CEO of Haynes International.