USAP - Universal Stainless & Alloy Products GAAP EPS of -$0.41 revenue of $56.2M misses by $0.23M

• Universal Stainless & Alloy Products press release ( NASDAQ: USAP ): Q4 GAAP EPS of -$0.41.
• Revenue of $56.2M (+30.0% Y/Y) misses by $0.23M .
• Record quarterly Premium Alloy sales of $13.5 million up 69% sequentially
• Q4 2022 Gross margin declines to $2.4 million, or 4.3% of sales, due to negative surcharge/raw material cost misalignment of approximately $2.4 million and negative impact of unplanned equipment outages due in part to extreme weather of approximately $0.7 million
• Q4 2022 EBITDA is $1.7 million; Adjusted EBITDA is $2.1 million
• Quarter-end Backlog reaches new record of $287.9 million, up 17% from record Q3 2022, and up 114% from Q4 2021

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