Metallus Inc. specializes in the creation and global distribution of diverse steel products, including alloy, carbon, and micro-alloy varieties, serving both domestic ...
Metallus Inc. specializes in the production and global distribution of diverse steel products, including alloy, carbon, and micro-alloy varieties. The company's extensive product portfolio features special bar quality (SBQ) material, seamless mechanical tubing, high-precision steel components, and raw billets. These are critical inputs for a vast range of applications, such ...Metallus Inc. specializes in the production and global distribution of diverse steel products, including alloy, carbon, and micro-alloy varieties. The company's extensive product portfolio features special bar quality (SBQ) material, seamless mechanical tubing, high-precision steel components, and raw billets. These are critical inputs for a vast range of applications, such as gears, hubs, axles, crankshafts, motor shafts, oil country drilling equipment (pipes, bits, and collars), bearing races and rolling elements, bushings, fuel injectors, wind turbine shafts, anti-friction bearings, artillery and mortar bodies, among others. Additionally, Metallus Inc. provides custom-engineered precision steel components tailored to client specifications. Its offerings cater to a broad spectrum of industries, including the automotive, energy, industrial equipment, mining, construction, rail, aerospace and defense, heavy truck, agriculture, and power generation sectors. Formerly operating as TimkenSteel Corporation, the company officially rebranded to Metallus Inc. in February 2024. Metallus Inc. was established in 1899 and its headquarters are located in Canton, Ohio.
From a business perspective, Metallus operates with a focus on high-performance specialty metals, leveraging its century-long legacy of manufacturing excellence. The company serves diverse end markets, ensuring resilience across economic cycles. Financially, as of the latest TTM data, Metallus has a market cap of approximately $902 million, with a price-to-earnings ratio of 114.05, and a gross profit margin of 8.2%. The company maintains a conservative balance sheet with low debt-to-equity ratio of 0.021, indicating financial stability. Revenue per share stands at $29.39, while book value per share is $16.64. The company pays a dividend of $0.56 per share, reflecting a commitment to shareholder returns.
Key people include CEO Michael S. Williams, who leads the company with extensive industry experience. The company is committed to innovation and operational excellence, as evidenced by its partnership with Fujitsu to modernize its systems. Metallus also emphasizes sustainability by manufacturing products from recycled scrap metal, aligning with modern environmental standards. With facilities in the U.S. and Mexico, the company is well-positioned to serve global customers, and its rebranding to Metallus represents a new chapter in its long history, focusing on growth and modernization.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.2B
+6.9%
+10.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-1.2M
-192.3%
+64.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+8.2%
-8.9%
+22.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+0.1%
-89.7%
+224.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-0.1%
-186.4%
+49.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-93.0M
-287.5%
+95.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-8.0%
-262.6%
+95.8%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
2.2%
-12.3%
+9.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.76x
-15.8%
+1.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, everyone. Thank you for joining us, and welcome to the 2Q 2026 Metallus Inc. Earnings Call. [Operator Instructions] I will now hand the conference over to Jenna Johnson. Please go ahead.
Jenna Johnson: Good morning, and welcome to Metallus' Second Quarter 2026 Conference Call. I'm Jenna Johnson, Senior Manager, Finance and Investor Relations for Metallus. Joining me today are Mike Williams, Chief Executive Officer; Kris Westbrooks, President and Chief Operating Officer; and John Zaranec, Executive Vice President and Chief Financial Officer. You should have received a copy of our press release, which was issued last night. During today's conference call, we may make forward-looking statements as defined by the SEC. Actual results may differ materially from those projected or implied due to a variety of factors, which we describe in greater detail in yesterday's release. Please refer to our SEC filings, including our most recent Form 10-Q, which will be filed later today as well as the risk factors included in our earnings release, all of which are available on the Metallus website. Where non-GAAP financial information is referenced, additional details and reconciliations to its GAAP equivalent are included in the earnings release and earnings presentation available on the Investor page at metallus.com. Now I'll turn the call over to Mike Williams for his remarks.
Michael Williams: Thank you, Jenna, and thank you all for joining us today. In the second quarter, we generated adjusted EBITDA of $29 million, improving profitability, both sequentially and year-over-year. This is consistent with the expectations we outlined earlier this year. Increased shipments, higher melt utilization, improved pricing and product mix and solid operating performance drove the improvement. We also continue to benefit from healthy demand across our end markets with the order book up over 50% year-over-year, providing strong visibility heading into the second half of the year. Our second quarter results reflect the progress we continue to make against our strategic priorities and underscore the strength of our existing and diversifying end markets and customer relationships. As we enter 2026, our focus was simple: improve profitability versus the prior year through consistent execution, commercial excellence and operational improvement. Our first half performance demonstrates the progress we are making towards that objective with safety remaining our top priority. At Metallus, we continue strengthen our safety culture across our facilities through targeted training, enhanced tools and increased accountability. We also continue to make significant progress with our strategic capital investments with early indicators suggesting these initiatives are positioned to deliver meaningful commercial and operational benefits over time. The bloom reheat furnace was fully commissioned in early July and is improving process consistency, enhancing downstream product …
