stainless steel historical improvement project

Revenues of $1.1 billion were higher than the $615 million experienced in third quarter of 2020 and comparable to the $1.1 billion in the 2021 second quarter. Our gross margin percentage improved to 29.8% compared to 19.0% in the same quarter of 2020 and was down slightly from the 30.7% in the 2021 second quarter. Our basic earnings per share of $2.10 for the quarter ended Septemwas a record and significantly higher than the $0.29 per share recorded in the third quarter of 2020 and higher than the previous record of $1.88 that was set in the second quarter of 2021. For the nine months ended September 30, 2021, our basic earnings per share of $5.28 compared to the $0.54 for the same period in 2020. A reconciliation of net earnings to Adjusted EBITDA is included below. Our Management's Discussion and Analysis includes additional information regarding these non-GAAP measures, including a reconciliation to the most directly comparable GAAP measures, under the headings 'Non-GAAP Measures'. EBITDA represents earnings before interest, income taxes, depreciation and amortization. Adjusted EBITDA represent earnings before long-lived asset impairment, interest, income taxes, depreciation and amortization. All amounts are reported in millions of Canadian dollars except per share figures, which are in Canadian dollars.ġ Adjusted EBITDA and EBITDA are non-GAAP measures.

Stainless steel historical improvement project