Universal Stainless’ shipment dropped by 30.4pc to 7,048nt (6,394mt) in the first quarter of the year compared to 10,120nt in Q1 2020.
Its sales dropped by 36.7pc to $37mn in Q1 2021 compared to $58.4mn in Q1 2020 while it rose by 18.2pc from $31.3mn in Q4 2020.
Of the total sales, net revenue from specialty alloys declined by 41.8pc to $29mn in the first quarter of the year compared to $49.9mn in the same quarter last year. Sales of premium alloys dropped by 1.5pc to $7.5mn in Q1 2021 from $7.6mn in Q1 2020.
The firm incurred a net loss of $4.5mn in Q1 2021 compared to $1.4mn on an annual basis while its adjusted EBITDA dropped to $2.1mn in the first quarter of the year compared to $4.4mn in Q1 2020.