The strong beat and positive outlook should drive near-term upside. Monitor the Q2 earnings call for concrete guidance and updates on margin trends, working capital, and new labor contract costs.
Price Chart
Executive Summary
Metallus reported Q1 2026 net sales of $308.3M (+10% YoY), net income of $5.4M ($0.13 GAAP EPS), and adjusted EPS of $0.18, beating the $0.13 consensus by 38%. Adjusted EBITDA grew 39% YoY to $24.6M. Management expects Q2 adjusted EBITDA to be modestly higher than Q1 2026 and Q2 2025, driven by a strong order book and improving pricing.
Key Financial Metrics
Key Facts
- Net sales $308.3M, up 10% YoY from $280.5M
- GAAP net income $5.4M ($0.13 per diluted share) vs $1.3M ($0.03) in Q1 2025
- Adjusted EPS $0.18 vs consensus $0.13 (beat by 38%)
- Adjusted EBITDA $24.6M, up 39% YoY from $17.7M
- Ship tons up 7% YoY to 163,800; melt utilization improved to 72% (from 65% YoY)
- Operating cash flow -$26.9M due to working capital build; free cash flow -$45.7M
- Cash and cash equivalents $104.0M, total liquidity $374.7M
- Repurchased 0.3M shares for $4.3M during the quarter
- Guidance: Q2 2026 adjusted EBITDA expected modestly higher than Q1 2026 and Q2 2025
Financial Impact
Adjusted EPS beat of $0.05 (38%) on $308.3M revenue, with positive qualitative guidance
Risk Factors
- Operating cash flow negative due to working capital build; free cash flow deeply negative
- Pension contributions and new union contract could pressure margins
- Sustaining growth in aerospace & defense segment tied to government funding milestones
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-204015 |
| Document: mtus-20260504.htm | 0001193125-26-204015 |
| Document: 0001193125-26-204015-index-headers.html | 0001193125-26-204015 |
| Document: 0001193125-26-204015-index.html | 0001193125-26-204015 |
| Document: 0001193125-26-204015.txt | 0001193125-26-204015 |
| 8-K Data (Synthetic) | 0001193125-26-204015 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | Insider Cluster | $20.92 $20.56 | ▲ +1.72% | ▲ +1.58% | $20.38 (+2.58%) |
Oct 5, 2026 21d ago | 144 | $20.92 $20.56 | ▼ −1.72% | ▼ −1.58% | $20.38 (−2.58%) |
Oct 2, 2026 24d ago | 144 | $19.89 $19.99 | ▲ +0.50% | ▼ −0.66% | $20.38 (+2.46%) |
Jul 1, 2026 16w ago | 8-K | $18.03 $18.57 | ▲ +3.00% | ▲ +2.73% | $20.38 (+13.03%) |
May 4, 2026 25w ago | 8-K | $19.28 $17.62 | ▼ −8.61% | ▼ −10.59% | $20.38 (+5.71%) |
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