- Universal Stainless & Alloy Products (NASDAQ:USAP) announced Monday a base price increase of 9% to 12% on bar products, effective immediately.
- That follows the last base price increase of 3% to 10% announced in March on bar products.
- "We are in an environment that has brought sharp inflationary cost increases to nearly all areas of our business, and it is necessary for us to adjust our pricing to keep up with this higher cost burden. We will continue to take the actions necessary to manage our organization and maintain our class leading customer service levels and exceptional production quality standard," commented USAP EVP and CCO Chris Zimmer.
- Earlier: Universal Stainless & Alloy Products GAAP EPS of -$0.18, revenue of $47.56M beats by $1.18M
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