Haynes International (HAYN) Releases Earnings Results, Misses Expectations By $-0.14 EPS

Haynes International (HAYN) reported quarterly earnings results on Thursday, May-5-2016. The company reported $-0.09 earnings per share for the quarter, missing the analyst consensus estimate by $-0.14. Analysts had a consensus of $0.05. The company posted revenue of $102.50 million in the period, compared to analysts expectations of $105.53 million. The company’s revenue was down -26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Many Wall Street Analysts have commented on Haynes International. Rosenblatt Initiated Haynes International on Feb 29, 2016 to “Neutral”, Price Target of the shares are set at $33.

Haynes International closed down -0.41 points or -1.11% at $36.38 with 91,693 shares getting traded on Wednesday. Post opening the session at $36.58, the shares hit an intraday low of $35.73 and an intraday high of $37.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 30, 2016, Robert Getz (director) sold 9,000 shares at $37.43 per share price. According to the SEC, on Dec 7, 2015, Timothy J Mccarthy (director) sold 1,300 shares at $40.44 per share price. On Dec 7, 2015, William P Wall (director) sold 1,250 shares at $41.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Haynes International Inc. (Haynes) is the producer of nickel- and cobalt-based alloys in sheet coil and plate forms. The Company is focused on developing manufacturing marketing and distributing technologically advanced high-performance alloys which are used primarily in the aerospace chemical processing and land-based gas turbine industries. Its products consist of high-temperature resistant alloys (HTA) products and corrosion-resistant alloys (CRA) products. HTA products are used by manufacturers of equipment that is subjected to high temperatures such as jet engines for the aerospace market gas turbine engines used for power generation and waste incineration and industrial heating equipment. CRA products are used in applications that require resistance to corrosive media found in chemical processing power plant emissions control and hazardous waste treatment. It has manufacturing facilities in Kokomo Indiana; Arcadia Louisiana and Mountain Home North Carolina.

Haynes International

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