Steel Products Prices North America

Webco Passes on Higher Costs, Increasing Sales

Written by Laura Miller

October 5, 2022

Tube producer Webco Industries says it has successfully been able to pass on higher costs to its customers in the form of higher prices, allowing it to increase sales in its 2022 fiscal year fourth quarter ended July 31, 2022.

During the quarter, Webco experienced volatility in the price of its raw materials including carbon and stainless steel sheet coil. The company was also hit with increased costs for non-steel supplies, operations, freight services, and labor.

Webco’s fiscal Q4 sales rose 18.5% year-on-year (YoY) to $172.5 million, pushing full fiscal year sales up 51% YoY to $704 million. Q4 net income was down 38.5% YoY, however, to $8.23 million, while full-year net income jumped 145% YoY to $48.35 million.

Sand Springs, Okla.-based Webco operates five tube production facilities in Oklahoma and Pennsylvania and eight value-added facilities in Oklahoma, Illinois, Michigan, Pennsylvania, and Texas. It produces carbon, alloy, stainless, and titanium welded tubing, welded cold-drawn tubing, and seamless cold-drawn tubing.

By Laura Miller, Laura@SteelMarketUpdate.com

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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