Haynes International, Inc. Increases Base Prices

Rhea-AI Summary

Haynes International, Inc. (Nasdaq: HAYN) announced price increases for new transactional orders across its product range. On April 23, 2021, prices were raised by 5% to 8%, followed by an additional 2% increase on May 21, 2021. These changes affect all new orders, whereas long-term agreement prices will adjust upon contract renewal. The company specializes in high-performance nickel- and cobalt-based alloys for industries including aerospace and chemical processing.

Positive

• Implementation of price increases by 5% to 8% and an additional 2%, enhancing revenue potential.

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• None.

KOKOMO, Ind., May 27, 2021 (GLOBE NEWSWIRE) -- Haynes International, Inc. (Nasdaq: HAYN) announced today that, on April 23, 2021, the Company initially increased base prices on all new transactional (non-contract) orders across all of its products by five percent (5%) to eight percent (8%). On May 21, 2021, the Company further increased base prices on such orders by an additional incremental two percent (2%) for new orders placed after that date. Prices for orders subject to long-term agreements will be adjusted at the end of the existing term for each agreement.

About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, nickel- and cobalt-based high-performance alloys, primarily for use in the aerospace, chemical processing and industrial gas turbine industries.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. All statements other than statements of historical fact made in this press release are forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, without limitation, those risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended September 30, 2020. Actual results may differ materially from those in the forward-looking statements as a result of various factors, many of which are beyond the Company's control. 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, except as required by law.

Contact:	Daniel W. Maudlin
	Vice President of Finance and Chief Financial Officer
	Haynes International, Inc.
	765-456-6102

FAQ

What recent pricing changes did Haynes International announce?

Haynes International announced price increases of 5% to 8% on April 23, 2021, with an additional 2% increase on May 21, 2021 for new transactional orders.

What is the impact of Haynes International's price increase on its products?

The price increases could potentially enhance revenue for Haynes International by raising the cost of new transactions.

When were the price increases for Haynes International products implemented?

The price increases were implemented on April 23, 2021, with an additional increase on May 21, 2021.

Are long-term agreement prices affected by the recent price increase at Haynes International?

No, prices for long-term agreements will be adjusted only at the end of their existing terms.