10-Q · August 4, 2026
Metallus delivered a solid Q2 top-line recovery, with revenue of $341.0M, up 12.0% year over year and 10.7% sequentially, led by aerospace and automotive shipment growth. GAAP EPS improved to $0.21 and operating margin…
Earnings analysis · 10-Q
MTUS earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
Metallus delivered Q3 revenue of $337.2 million and diluted EPS of $0.35, with EPS exceeding the $0.29 consensus estimate despite the revenue shortfall. Adjusted EBITDA increased 19% year over year to $34.5 million, but…
Read full summary
Metallus delivered Q3 revenue of $337.2 million and diluted EPS of $0.35, with EPS exceeding the $0.29 consensus estimate despite the revenue shortfall. Adjusted EBITDA increased 19% year over year to $34.5 million, but management expects Q4 EBITDA to decline because of a $10 million-$15 million shutdown impact and lower seasonal shipments. The filing does not provide sufficient balance-sheet, cash-flow, segment, or margin detail to quantify those items.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.35
What stood out
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EPS beat despite revenue shortfall
Q3 2026 revenue was $337.2 million, while diluted EPS was $0.35 versus the $0.29 consensus estimate, a $0.06 beat.
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Adjusted EBITDA rose 19%
Adjusted EBITDA increased 19% year over year to $34.5 million, supported by pricing, mix, and aerospace and defense demand.
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Full-year EBITDA outlook provided
Management expects full-year 2026 adjusted EBITDA of $100 million-$105 million, providing a quantitative framework for the full-year outlook.
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Share repurchases continued
The company continued capital returns, repurchasing 186,991 shares during the quarter at an average price of $19.38 per share.
What to watch
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Planned shutdowns pressure Q4
Q4 adjusted EBITDA is expected to be below Q3's $34.5 million, with planned shutdown maintenance creating a $10 million-$15 million unfavorable impact.
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Seasonal volume decline
Management expects lower seasonal shipments in Q4, adding to the anticipated decline from Q3's $34.5 million adjusted EBITDA.
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No new risk-factor changes
The filing states there were no material changes in market-risk exposure since December 31, 2025, and directs investors to the December 31, 2025 Form 10-K for risk disclosures; therefore, no new risk-factor changes were identified.
Management's outlook
The 10-Q does not provide numeric EPS or revenue guidance. Management's quantitative outlook, as reported with the Q3 results, calls for full-year 2026 adjusted EBITDA of $100 million-$105 million, Q4 adjusted EBITDA below Q3's $34.5 million, a $10 million-$15 million shutdown-related impact, approximately $70 million of capital expenditures, and a 27%-30% adjusted effective tax rate.
Earlier filings 4
10-Q · May 5, 2026
Metallus Inc. (MTUS) reported Q1 2026 earnings with revenue of $308.3 million and EPS of $0.18, surpassing analyst expectations. Revenue increased by 9.9% year-over-year, driven by higher shipment volumes and surcharges…
10-K · February 20, 2026
Metallus positions itself as a niche leader in special bar quality (SBQ) steel, leveraging metallurgical expertise, near-100% recycled feedstock and integrated downstream capabilities. While revenue appears to have…
10-Q · August 7, 2025
Metallus reported second-quarter net sales of $304.6 million, up from $294.7 million a year ago, with gross profit of $32.2 million (10.6% margin) and diluted EPS of $0.09 for the quarter. While gross and operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.