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About Webco Industries, Inc. (WEBC)
Webco Industries, Inc. (OTC: WEBC) is a premier manufacturer and distributor of high-quality specialty steel tubing products, serving diverse industrial sectors. Founded in 1969 by the Weber family, the company has established itself as a trusted name in the steel tubing industry through its commitment to quality, innovation, and customer satisfaction. Headquartered in Sand Springs, Oklahoma, Webco operates multiple production and value-added facilities across Oklahoma, Texas, Pennsylvania, Illinois, and Michigan, serving customers globally.
Core Operations and Product Offerings
Webco specializes in the production and distribution of carbon steel, stainless steel, and other specialty metal tubing products tailored to meet industry and customer specifications. Its product portfolio includes:
- Boiler Tubing: Designed for high-pressure applications in energy and industrial sectors.
- Pressure Tubing: Engineered to withstand extreme pressure conditions.
- Mechanical Tubing: Used in structural and mechanical applications.
- OEM Tubing: Custom solutions for Original Equipment Manufacturers.
- Stainless Tubing: Corrosion-resistant options for demanding environments.
These products are widely utilized in industries such as energy, manufacturing, automotive, and construction, where precision, durability, and performance are critical.
Market Position and Competitive Advantages
Webco operates in the highly competitive steel and metal fabrication industry, characterized by cyclical demand and global competition. The company sets itself apart through its extensive technical expertise, robust R&D capabilities, and a focus on value-added services. The Webco TechCenter, located at the F. William Weber Leadership Campus in Sand Springs, Oklahoma, serves as a state-of-the-art laboratory and research facility, driving innovation and technical excellence in the tubing industry. This facility underscores Webco’s commitment to delivering tailored solutions that meet the evolving needs of its customers.
Operational Footprint
Webco’s operational network includes five tube production facilities in Oklahoma and Pennsylvania, complemented by eight value-added facilities across Oklahoma, Illinois, Michigan, Pennsylvania, and Texas. This geographic diversity enhances its ability to serve customers efficiently and maintain a competitive edge in the market.
Challenges and Industry Dynamics
As a player in the steel industry, Webco faces challenges such as economic cycles, raw material cost volatility, and competition from foreign imports. The company mitigates these risks through strategic investments, maintaining a strong balance sheet, and leveraging its technical capabilities to deliver high-value products. Its focus on building long-term relationships with customers and suppliers further strengthens its market resilience.
Commitment to Excellence
Webco’s mission is to continuously build on its strengths to create a vibrant, enduring company. Guided by core values of trust, teamwork, and innovation, the company remains 100% engaged in delivering exceptional products and services to its customers, business partners, and communities. This unwavering dedication positions Webco as a reliable partner in the global steel tubing industry.
Webco Industries (OTC: WEBC) reported challenging Q2 fiscal 2025 results, with a net loss of $2.0 million (-$2.91 per share) compared to net income of $0.3 million ($0.42 per share) in Q2 2024. Net sales decreased 11.1% to $129.7 million from $146.0 million year-over-year.
The company's performance was impacted by extended recession in domestic manufacturing markets, seasonal factors, and unfair foreign product dumping. Gross profit margin declined to 7.6% from 8.9% in Q2 2024. The company maintains strong liquidity with $72.8 million in total cash, short-term investments, and available credit.
During Q2 2025, Webco purchased 145,000 shares under its stock repurchase program, with $8.3 million remaining in purchase authority through July 31, 2026. Capital expenditures were $5.7 million, primarily focused on stainless facilities expansion.
Webco Industries (OTC: WEBC) has announced the appointment of Tobin Pospisil to its Board of Directors, expanding the board to six members, including three outside members. Pospisil brings extensive steel industry experience, holding a BS in Business Administration from the University of Nebraska and an MBA from Duke University. His career includes executive positions at GS Industries and roles as CFO and president of Gallatin Steel Company.
Webco operates five tube production facilities in Oklahoma and Pennsylvania, along with eight value-added facilities across Oklahoma, Illinois, Michigan, Pennsylvania, and Texas. The company specializes in manufacturing high-quality carbon steel, stainless steel, and metal specialty tubing products. Their F. William Weber Leadership Campus in Sand Springs, Oklahoma, includes corporate offices and the Webco TechCenter™, which serves as their R&D facility.
Webco Industries (OTC: WEBC) has announced a significant share repurchase of 143,443 shares, representing 16.8% of its outstanding shares, in a private transaction valued at $28.7 million. The company funded the purchase through a combination of cash reserves and borrowing from its revolving credit line.
Following this transaction, Webco's outstanding shares have been reduced to 712,300, with approximately 78.5% owned by the combined families of F. William Weber and management. The company operates five tube production facilities in Oklahoma and Pennsylvania, along with eight value-added facilities across Oklahoma, Illinois, Michigan, Pennsylvania, and Texas, specializing in carbon steel, stainless steel, and specialty metal tubing products.
Webco Industries (OTC: WEBC) reported a challenging first quarter fiscal 2025, ending October 31, 2024, with a net loss of $0.1 million (-$0.13 per share), compared to net income of $5.1 million ($6.25 per share) in Q1 fiscal 2024. Net sales decreased 10.4% to $141.4 million from $157.8 million. The company maintained strong liquidity with $89.0 million in total cash, short-term investments, and available credit. Gross profit margin declined to 9.7% from 13.7%, while operating income decreased to $1.1 million from $8.0 million. Capital expenditures reduced to $5.1 million from $10.1 million in the previous year.
Webco Industries, Inc. (OTC: WEBC) reported its fiscal 2024 fourth quarter and year-end results. For Q4 FY2024, the company had a net income of $4.3 million, or $4.94 per diluted share, compared to $8.3 million in Q4 FY2023. Net sales for Q4 FY2024 were $151.4 million, a 3.2% decrease from the previous year. For the full fiscal year 2024, Webco generated a net income of $16.1 million, or $19.24 per diluted share, with net sales of $608.4 million, an 11.4% decrease from FY2023.
The company reported slower quarters consistent with the overall domestic manufacturing economy. Webco maintains a strong balance sheet with total cash, short-term investments, and available credit of $90.5 million as of July 31, 2024. The company continues to invest in its business, including the construction of the F. William Weber Leadership Campus.
Webco Industries, Inc. (OTC: WEBC) announced the retirement of Dr. Kenneth E. Case from its Board of Directors after nearly 30 years of service. Dr. Case, a former Regents Professor of Industrial Engineering and Management at Oklahoma State University, has been an invaluable asset to Webco, contributing his extensive knowledge of engineering and quality. His retirement marks the end of a significant era for the company.
CEO Dana S. Weber and President David E. Boyer expressed their deep appreciation for Dr. Case's contributions, highlighting his insights, humor, and impact on Webco's growth from a small tubing manufacturer to an industry leader. Dr. Case's influence extended beyond his board role, with many of his former students becoming engineers and leaders at Webco.
Webco Industries (OTC: WEBC) reported its fiscal Q3 2024 results ending April 30, 2024. Net income was $6.4 million, or $7.49 per diluted share, identical to Q3 2023's net income but down from $7.91 per diluted share. Net sales fell 9.1% to $153.2 million from $168.6 million in Q3 2023. For the first nine months, net income was $11.8 million, or $14.30 per diluted share, down from $18.3 million or $22.89 per diluted share in the same period of the previous year. Net sales for this period dropped 13.8% to $457 million from $530.5 million. Despite a challenging market impacted by foreign imports, CEO Dana S. Weber emphasized maintaining a strong balance sheet, with $87.5 million in cash, short-term investments, and available credit. Gross profit and operating income also saw declines. The company continues investing in infrastructure, including its new Tech Center and corporate headquarters. Webco's stock repurchase program remains active, with 3,600 shares repurchased in Q3 2024.
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