Synalloy Corp (SYNL) Q4 2019 Earnings Conference Call March 6, 2020 9:00 AM ET Company Participants Craig Bram - President and Chief Executive Officer Dennis Loughran - Chief Financial Officer Conference Call Participants Charles Gold - BB&T Scott & String Operator Ladies and gentlemen, thank you for standing by and welcome to the Synalloy Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer ses ...

Synalloy Corp (SYNL) Q3 2019 Earnings Conference Call November 12, 2019 9:00 AM ET Company Participants Craig Bram - President, CEO & Director Dennis Loughran - SVP & CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the Synalloy Third Quarter Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Mr. Craig Bram, President and CEO. Please go ahead, sir. Craig Bram Good morning, everyone. W ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ COMMISSION FILE NUMBER 0-19687 https://files.reportify.cc/media/production/ Synalloy Corporation (Exact name of registrant as specified in its charter) ...

Financial Data and Key Metrics Changes - In Q2 2019, the company reported a GAAP-based net loss of $0.3 million or $0.03 per diluted share, compared to a profit of $3.7 million or $0.41 per share in Q2 2018 [5] - The non-GAAP adjusted net loss was $0.3 million or $0.04 per diluted share, down from adjusted net income of $6.3 million or $0.71 per diluted share in the same quarter last year [5] - Non-GAAP adjusted EBITDA totaled $3.4 million or 4.3% of sales, a decline from $10.3 million or 14.4% of sales in Q2 2018 [5][6] Business Line Data and Key Metrics Changes - The welded stainless steel pipe business faced temporary headwinds, leading to a downward revision in the annual forecast [8] - The addition of ASTI and its ornamental tubing products contributed positively, with sales and profit margins meeting or exceeding original forecasts [8] - The Storage Tank business in West Texas showed improved results in Q2, but new order activity slowed in July [9] Market Data and Key Metrics Changes - Oil production growth in the Permian Basin has slowed, with projections indicating a growth of only 34,000 barrels per day in August [9] - North American shipments of welded stainless steel pipe were down 24% year-over-year for the first six months of 2019 [14] - The company’s market share in the welded stainless steel pipe business increased by 200 basis points despite a 12% decline in pound shipments [16] Company Strategy and Development Direction - The company is focused on cash flow and reducing debt, targeting net debt to be less than $65 million by year-end [19] - There is an ongoing evaluation of potential acquisitions in the metals and chemical sectors, although no transactions are imminent [19] - The company implemented a new ERP system for the ASTI unit, which has transitioned smoothly [8] Management Comments on Operating Environment and Future Outlook - Management believes the challenges in the welded stainless steel pipe business are temporary and expects inventory profits to return in Q4 if nickel prices hold [16] - The company anticipates that new orders will be released later in Q3, with expectations of benefiting from recent mergers in the Permian Basin [10] - Management noted that many chemical customers are reporting flat to marginal year-over-year growth, impacting the intermediate products manufactured [12] Other Important Information - The company experienced a significant inventory price change loss of $1.8 million in Q2 2019, compared to a gain of $1.1 million in Q2 2018 [6] - The company has reached an agreement with Bristol Union for a new five-year contract [18] - The company opened a data room for Privet to provide additional information, with no further comments or offers received as of the call date [20] Q&A Session Summary Question: Tax rate in Q2 and first six months - The CFO explained that low income figures resulted in discrete items having a significant impact on the overall effective tax rate [22][23] Question: Impact of new tariffs on Chinese imports - Management clarified that the upcoming tariff increase would not affect any steel products [25][26] Question: EBITDA forecast for the second half - Management confirmed a forecast of approximately $14 million of EBITDA for the second half of the year [27][28]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ COMMISSION FILE NUMBER 0-19687 https://files.reportify.cc/media/production/ Synalloy Corporation (Exact name of registrant as specified in its charter) Dela ...

Synalloy Corporation (SYNL) Q1 2019 Earnings Conference Call April 30, 2019 9:00 AM ET Company Participants Craig Bram - President and CEO Dennis Loughran - CFO Conference Call Participants Mike Hughes - SGF Capital Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Synalloy Corporation's First Quarter Earnings Conference Call. [Operator Instructions] I would now like to introduce your host for today's presentation, Mr. Craig Bram, President and CEO of Synalloy Corporatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Registrant's telephone number, including area code) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ COMMISSION FILE NUMBER 0-19687 https://files.reportify.cc/media/production/ Synalloy Corporation (Exac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2018 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER 0-19687 https://files.reportify.cc/media/production/ACN SYNALLOY CORPORATION (Exact name of registrant as specified in its charter) Delaware 57-0426694 (Title of Class) Securities reg ...

Financial Data and Key Metrics Changes - Fourth quarter GAAP-based net income was $0.5 million or $0.06 diluted earnings per share, down from $1 million or $0.11 diluted earnings per share in Q4 2017 [6] - Fourth quarter non-GAAP adjusted net income was $2 million or $0.22 diluted earnings per share, compared to $1.2 million or $0.13 diluted earnings per share in Q4 2017 [6] - Fourth quarter non-GAAP adjusted EBITDA totaled $5.9 million or 8.1% of sales, up from $4.0 million or 7.5% of sales in the prior year [7] - Full-year adjusted EBITDA totaled $34.1 million, significantly up from $12.5 million in 2017 [7] Business Line Data and Key Metrics Changes - The metals segment finished the year with profits of almost $5 million, with all gains occurring in the first three quarters of the year [12] - The chemicals segment returned to organic sales growth in 2018, with expectations for continued growth in 2019 [14] Market Data and Key Metrics Changes - Nickel prices and associated surcharges were under pressure in Q4, resulting in metal losses, but have started to rebound in 2019 with a 26% increase since the end of 2018 [12] - The backlog as of March 1 indicated about five months' worth of work, consistent with historical levels [22] Company Strategy and Development Direction - The company completed the acquisition of Marcegaglia's galvanized tube business in July 2018 and ASTI's assets in January 2019, which are expected to enhance operational capabilities [9] - The company is targeting revenue of $340 million for 2019, a 21% increase from 2018, with adjusted EBITDA forecasted at $34 million [9] Management's Comments on Operating Environment and Future Outlook - Management noted that the level of business activity in the first two months of 2019 has exceeded plans in both metals and chemicals segments, indicating a solid year ahead [16] - Management expressed disappointment with the share price decline despite strong financial performance and authorized a share repurchase program [10] Other Important Information - The company experienced a mark-to-market valuation loss on investments in equity securities totaling $2.1 million in Q4 [11] - The integration of ASTI has gone smoothly, with raw material savings hitting assumptions and coordination of sales activities among stainless units underway [13] Q&A Session Summary Question: Concerns about chemical division margins - Management acknowledged that some expected product lines did not ramp up as planned in 2018, but they are seeing improvements in early 2019 [17] Question: Labor issues in the metals division - Management reported improved margins in the second half of the year and reduced turnover among welders, positively impacting throughput [20] Question: Demand levels in the Permian - Management confirmed that bookings typically pick up in the second and third quarters, with February bookings showing a nice increase [22] Question: Update on galvanizing and ornamental steel business - Management noted a significant reduction in inventory demand from customers in Q4 but has seen volume pick up in early 2019 [24] Question: Update on the IBC business - Management confirmed the signing of two long-term contracts with higher volume commitments than at the time of acquisition [28] Question: Brismet backlog status - Management indicated that the Brismet backlog is currently about $28 million [49]