The DLA contract (up to $995M) provides multi-year revenue visibility in aerospace & defense, which achieved a $250M annualized run-rate. Q4's guided sequential EBITDA decline is seasonal and expected. Monitor Q4 results for the full-year $100-$105M adjusted EBITDA target and any further DLA delivery orders.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 2 $19.69entry
- T+1 · yesterday −9.24%α −10.89% · $17.87
- T+2 · todayOpen
- T+5 · in 5d Pending
- T+20 · in 27d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Metallus reported Q3 2026 net sales of $337.2M (+10% YoY) and GAAP diluted EPS of $0.55, well above the $0.29 consensus. Adjusted EBITDA rose 19% YoY to $34.5M. The company was awarded a DLA contract with an initial $125M purchase order and up to $995M over five years. However, Q4 adjusted EBITDA guidance is lower sequentially due to planned annual maintenance shutdown, and full-year 2026 adjusted EBITDA is guided to $100-$105M.
Key Financial Metrics
Key Facts
- Q3 2026 net sales $337.2M, up 10% YoY from $305.9M
- GAAP diluted EPS $0.55 vs consensus $0.29 (beat)
- Adjusted diluted EPS $0.35 vs consensus $0.29 (beat)
- Adjusted EBITDA $34.5M, up 19% YoY and sequentially
- Awarded DLA contract with initial $125M purchase order, contract value up to $995M over 5 years
- Q4 adjusted EBITDA expected lower sequentially due to $10-$15M impact from annual shutdown
- Full-year 2026 adjusted EBITDA guidance $100-$105M
- Cash and cash equivalents $98.6M, total liquidity $388.7M
- Repurchased 0.2M shares for $3.6M in Q3
Financial Impact
Net sales +10% YoY to $337.2M; GAAP net income $23.8M vs $8.1M YoY; adjusted EBITDA $34.5M vs $29.0M YoY; DLA contract up to $995M over 5 years
Segment Breakdown
| Segment | Revenue |
|---|---|
| Industrial | $115.1M |
| Automotive | $123.6M |
| Aerospace & Defense | $66.4M |
| Energy | $25.4M |
| Other | $6.7M |
Risk Factors
- Q4 adjusted EBITDA expected lower due to annual maintenance shutdown ($10-$15M impact)
- Full-year adjusted EBITDA guidance $100-$105M implies Q4 adjusted EBITDA roughly $12-$17M, a significant sequential drop
- Sequential net sales declined 1% QoQ; shipments down 5% QoQ
- Manufacturing costs increased due to planned shutdown timing and electricity curtailments
- CEO transition planned for year-end 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-443736 |
| Document: mtus-20261102.htm | 0001193125-26-443736 |
| Document: 0001193125-26-443736-index-headers.html | 0001193125-26-443736 |
| Document: 0001193125-26-443736-index.html | 0001193125-26-443736 |
| Document: 0001193125-26-443736.txt | 0001193125-26-443736 |
| 8-K Data (Synthetic) | 0001193125-26-443736 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | Insider Cluster | $19.60 | awaiting T+1 | awaiting T+1 | $17.87 (−8.83%) |
Nov 2, 2026 2d ago | 144 | $19.69 $17.87 | ▼ −9.24% | ▼ −10.89% | $17.87 (−9.24%) |
Nov 2, 2026 2d ago | 144 | $19.69 $17.87 | ▼ −9.24% | ▼ −10.89% | $17.87 (−9.24%) |
Nov 2, 2026 2d ago | 8-K | $19.69 $17.87 | ▼ −9.24% | ▼ −10.89% | $17.87 (−9.24%) |
Oct 5, 2026 29d ago | Insider Cluster | $20.92 $19.97 | ▲ +4.54% | ▲ +4.30% | $17.87 (+14.58%) |
Oct 5, 2026 4w ago | 144 | $20.92 $19.97 | ▼ −4.54% | ▼ −4.30% | $17.87 (−14.58%) |
Oct 2, 2026 4w ago | 144 | $19.89 $21.04 | ▲ +5.78% | ▲ +5.11% | $17.87 (−10.16%) |
Jul 1, 2026 18w ago | 8-K | $18.03 $17.50 | ▼ −2.94% | ▼ −2.81% | $17.87 (−0.89%) |
May 4, 2026 26w ago | 8-K | $19.28 $19.07 | ▼ −1.09% | ▼ −2.47% | $17.87 (−7.31%) |
US Market Status
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