Universal Stainless & Alloy Products, Inc. provided earnings guidance for the third quarter of 2022. Based on preliminary results, it expects to report net sales for the third quarter of 2022 of $46.2 million, which is 12% lower than the second quarter of 2022, although 24% higher than the third quarter of 2021. As a result, the company expects to report a net loss for the third quarter of approximately $0.14 per diluted share.

That compares with a net loss of $0.16 per diluted share in the 2022 second quarter.