Synalloy Cp Up 17.13% To $15.56 After Earnings

Wednesday, August 10, 2022 - Synalloy Cp (SYNL) reported upside earnings and revenues today.

The company reported an EPS of $1.06. The firm reported an EPS of $0.31 in the year-ago quarter. The increase in Synalloy Cp's annual growth rate represents how the business is performing well amid recent economic conditions.

Revenues were upbeat at $116.2 million. That revenue figure is an increase of 39.86% from the year ago quarter.

The stock is up 17.13% to $15.56 after the report.

Synalloy Cp's earnings expanded faster than revenues, signaling widening profit margins.

Trading in the five days leading up to the report earned Synalloy Cp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 45.

Synalloy Corp is engaged in the chemical and metal industry. The group operates into two reportable segments namely the Metals Segment and the Specialty Chemicals Segment. It manufactures welded pipe and tube, primarily from stainless steel, duplex, and nickel alloys. The company also produces specialty chemicals and dyes used in various end markets. It generates maximum revenue from the Metals Segment. The Metals Segment markets include oil and gas, chemical, petrochemical, pulp and paper, mining, power generation, water and waste water treatment, liquid natural gas, brewery, food processing, petroleum, pharmaceutical, automotive and commercial transportation, appliance, architectural, and other heavy industries.