Haynes International, Inc. (NASDAQ:HAYN) Q4 2023 Earnings Conference Call November 17, 2023 9:00 AM ET

Company Participants

David Van Bibber - Controller & Chief Accounting Officer

Michael Shor - President & CEO

Daniel Maudlin - VP, Finance, Treasurer, & CFO

Conference Call Participants

Mark Reichman - Noble Capital Markets

Steve Ferazani - Sidoti

Michael Leshock - KeyBanc Capital Markets

Richard Evans - Mara River Capital Management

Operator

Greetings, welcome to the Haynes International Inc. Fourth Quarter Fiscal 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Controller and Chief Accounting Officer, David Van Bibber, you may begin.

David Van Bibber

Thank you very much for joining us today. With me today are Michael Shor, President and CEO of Haynes International; and Dan Maudlin, Vice President and Chief Financial Officer.

Before we get started, I would like to read a brief cautionary note regarding forward-looking statements. This conference call contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. The words believe, anticipate, plan, and similar expressions are intended to identify forward-looking statements.

Although we believe our plans, intentions, and expectations regarding or suggested by such forward-looking statements are reasonable, such statements are subject to a number of risks and uncertainties and we can provide no assurances such plans, intentions or expectations will be achieved.

Many of these risks are discussed in detail in the company's filings with the Securities and Exchange Commission, in particular, Form 10-K for the fiscal year ended September 30, 2023. The company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

With that let me turn the call over to Mike.

Michael Shor

Thank you, Dave. Good morning, everyone. The highlights of our fiscal '23 performance includes six consecutive quarters of an adjusted gross margin of approximately 21% or better, a normalized EBITDA of approximately $99 million when adjusting for both the impact of the third quarter cyber issue and the raw material headwinds, record full year -- full fiscal year revenues in both our aerospace and industrial gas turbine markets and book-to-bill levels consistently at or over 1.0 in both our aero and IGT markets.