Financial Performance - The company reported first-quarter 2025 net sales of 280.5million,a17240.5 million in the fourth quarter of 2024, but a 13% decrease from 321.6millioninthefirstquarterof2024[1][2][3][14]−Netincomeforthefirstquarterof2025was1.3 million, or 0.03perdilutedshare,comparedtoanetlossof21.4 million in the fourth quarter of 2024 and a net income of 24.0millioninthefirstquarterof2024[1][2][3][22]−AdjustedEBITDAforthefirstquarterof2025was17.7 million, compared to 8.3millioninthefourthquarterof2024and43.4 million in the first quarter of 2024 [1][2][3][22] Operational Insights - The company experienced a 50% increase in order backlog compared to the same period last year, driven by a solid order book and market share gains [4] - Ship tons increased to 152,900 in the first quarter of 2025, a 17% sequential increase, primarily due to higher industrial, automotive, and energy shipments [14] - Manufacturing costs decreased by 12.5millionsequentiallyduetoincreasedcostabsorptionfromhigherproductionvolume[14]CashFlowandLiquidity−AsofMarch31,2025,thecompanyhadcashandcashequivalentsof180.3 million and total liquidity of 432.0million[7][58]−Operatingcashflowwasanoutflowof38.9 million, primarily due to required pension contributions totaling 52.6million[7][8]−Capitalexpendituresforthefirstquarterwere27.5 million, including 13.9millionforgovernment−fundedprojects[7][9]MarketandStrategicOutlook−Thecompanyanticipatessecond−quarter2025adjustedEBITDAtobehigherthaninthefirstquarterof2025,supportedbyanincreasingorderbookandimprovedoperationalperformance[11][19]−Plannedcapitalexpendituresforthefullyearof2025areapproximately125 million, including about $90 million funded by the U.S. government [19] - The company is focused on strategic investments to drive profitable growth and maintain a share repurchase program [5]
