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What: Shares of metal manufacturer Haynes International
So what: Net revenue jumped 47% to $139.1 million, easily topping estimates of $111.9 million. Earnings per share of $0.51 did fall short of the $0.54 analysts expected, but investors are looking past that today.
Now what: Management sees conditions improving throughout the year, as pricing and mix both improve. It's also positive that backlog increased 44.7% in the quarter to $241.7 million. With conditions improving, I think Haynes has room to run higher despite slightly disappointing profits this quarter.
Interested in more info on Haynes International? Add it to your watchlist.
Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.
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