10
Dec
15:17
Webco earnings drop in fiscal 2020
Specialty piping systems producer Webco Industries saw its profits dip by more than two-thirds in the first-quarter of fiscal 2020, Kallanish reports.
In the quarter ended 31 October, Webco earned $3.2 million on sales of $122.5m, down from a profit of $9.8m on sales of $137m in fiscal Q1 2019.
“Significant declines in carbon steel sheet coil cost from the first quarter of fiscal year 2019 to the first quarter of fiscal year 2020 negatively affected sal…
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