Company Overview - Metallus (NYSE: MTUS) is a leader in high-quality specialty metals, manufactured components, and supply chain solutions, with a focus on serving industrial, automotive, aerospace & defense, and energy end markets [6] - The company has been in the business of producing high-quality steel for over 100 years and employs approximately 1,890 people [6] - Metallus reported sales of $1.4 billion in 2023 [6] Recognition and Awards - Metallus has been named a 2024 NorthCoast 99 award winner by ERC, recognizing it as one of the top workplaces in Northeast Ohio for attracting and retaining top talent [1][3] - The NorthCoast 99 award program, launched 26 years ago, provides insights into effective policies and practices for talent management, including diversity, equity, inclusion, and employee engagement [2] Leadership and Culture - The recognition as a NorthCoast 99 award winner is attributed to the dedication and talent of Metallus' team, emphasizing the company's commitment to a culture of care, collaboration, communication, and growth [3] - Metallus aims to deliver exceptional value to customers, employees, and shareholders while maintaining its status as an industry leader [3] Industry Context - The NorthCoast 99 award winners are recognized for their ability to evolve and respond to the needs of today's talent, setting a benchmark for excellence in workplace practices [4]

Financial Data and Key Metrics Changes - In Q2 2024, net sales totaled $294.7 million, a sequential decrease of 8% from $321.6 million in Q1 2024 and down from $356.6 million in Q2 2023 [11][12] - Net income for Q2 2024 was $4.6 million, or $0.10 per diluted share, compared to $24 million, or $0.52 per diluted share in Q1 2024 and $28.9 million, or $0.62 per diluted share in Q2 2023 [11][12] - Adjusted EBITDA was $19.9 million in Q2 2024, reflecting a sequential decline primarily due to lower melt utilization and a decrease in raw material surcharge revenue [12][13] Business Line Data and Key Metrics Changes - Shipments in the industrial end market totaled 56,400 tons, a sequential decrease of 7% [13] - Automotive shipments increased by 2% to 67,800 tons, indicating steady customer demand despite supply chain disruptions [13][14] - Aerospace and defense shipments remained strong at 16,400 tons, consistent with Q1, but a decline is expected in Q3 due to customer order timing [13][14] Market Data and Key Metrics Changes - The industrial and energy markets continued to show weakness, with agricultural machinery investments being delayed due to higher prices and interest rates [7][14] - Imports of SBQ increased from 10% to 17% of the market, contributing to pressure on pricing [8] - Rail and mining markets are expected to remain soft for the year, impacting overall demand [7] Company Strategy and Development Direction - The company is focused on aligning production with demand, managing working capital, and investing in assets for future growth [4][5] - Significant capital investments are being made, including a $3.5 million grant from JobsOhio for facility expansion and a $99 million funding agreement with the U.S. Army for national defense efforts [9][10] - The company aims to enhance product quality and reliability while reducing costs through strategic investments in technology [10][19] Management's Comments on Operating Environment and Future Outlook - Management noted that sluggish demand in the spot market and high interest rates are impacting revenue expectations [24][25] - A sequential decline in shipments is anticipated for Q3, particularly in aerospace and defense, while automotive demand is expected to remain steady [21][22] - The company remains committed to controlling costs and investing in strategic initiatives despite current market challenges [33][34] Other Important Information - The company allocated $4.5 million towards safety initiatives, with a total annual safety investment projection of approximately $7 million [6] - Operating cash flow for Q2 was $8.3 million, supported by profitability and lower working capital [17][20] - The company repurchased 440,000 shares at a cost of $9.6 million during Q2, with a remaining authorization of $122.5 million for share repurchases [19][20] Q&A Session Summary Question: What were the biggest surprises in Q2? - Management highlighted the lack of demand from the spot market and the impact of customer mix on pricing as significant surprises [24][25] Question: How will automotive downtime affect future shipments? - Management indicated that automotive customers who experienced downtime are expected to recover in Q3, but demand from some OEMs may be reduced [26][27] Question: What is the expected drop-off in aerospace and defense shipments for Q3? - A significant drop is anticipated, with expectations to reset to prior year levels [28][30] Question: How is the company managing costs in the current market? - The company is focused on optimizing costs while implementing strategic investments in technology and employee training [33] Question: What is the status of the Bloom project? - The company has met several milestones for the Bloom project, with additional funding expected as milestones are achieved [35][46]

CANTON, Ohio, Aug. 9, 2024 /PRNewswire/ -- Metallus (NYSE: MTUS), formerly known as TimkenSteel and a leader in high-quality specialty metals, manufactured components, and supply chain solutions, released its second-quarter 2024 results on Thursday, August 8 on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, August 9, 2024, at 9:00 a.m. ET. The live conference call will be broadcast at investors.me ...

Metallus (MTUS) came out with quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -61.54%. A quarter ago, it was expected that this maker of steel large bars and seamless mechanical tubing would post earnings of $0.35 per share when it actually produced earnings of $0.56, delivering a surprise of 60%. ...

fa UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-36313 METALLUS INC. (Exact name of registrant as specified in its charter) Ohio 46-4024951 (State or other jurisdiction of incorporation o ...

Exhibit 99.1 METALLUS Metallus Announces Second-Quarter 2024 Results • Net sales of $294.7 million with net income of $4.6 million and adjusted EBITDA (1) of $19.9 million • Operating cash flow of $8.3 million with ending cash and cash equivalents of $272.8 million • Invested $14.1 million in capital expenditures and deployed $9.6 million to repurchase common shares • Received initial payment from the U.S. government to fund additional capacity to support the Army's mission of ramping up munition production ...

• Lt. Governor Jon Husted and other officials attended today's groundbreaking ceremony CANTON, Ohio, Aug. 7, 2024 /PRNewswire/ -- Metallus (NYSE: MTUS), a leader in high-quality specialty metals, manufactured components and supply chain solutions, announced today that it has received $3.5 million in grants from JobsOhio to support the planned expansion of its steelmaking plants. Metallus, formerly known as TimkenSteel, plans to invest more than $100 million in partnership with the U.S. Department of Defense ...

CANTON, Ohio, July 18, 2024 /PRNewswire/ -- Metallus (NYSE: MTUS), formerly known as TimkenSteel and a leader in high-quality specialty metals, manufactured components, and supply chain solutions, will release its second-quarter 2024 results on Thursday, August 8, after the market closes on the New York Stock Exchange. ABOUT METALLUS INC. SOURCE Metallus Inc. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, August 9, 2024, at 9 ...

Financial Data and Key Metrics Changes - In Q1 2024, net sales totaled $321.6 million, a sequential decrease of 2% from $328.1 million in Q4 2023, but a year-over-year increase of 5% from $323.5 million in Q1 2023 [17] - Net income for Q1 2024 was $24 million, or $0.52 per diluted share, compared to $1.3 million, or $0.03 per diluted share in Q4 2023, and $14.4 million, or $0.30 per diluted share in Q1 2023 [17] - Adjusted EBITDA was $43.4 million in Q1 2024, a sequential increase of $7.7 million, resulting in a 13.5% adjusted EBITDA margin [19] - Operating cash flow was $33.4 million, marking the company's 20th consecutive quarter of generating positive operating cash flow [28] Business Line Data and Key Metrics Changes - Shipments in the industrial end market increased by 4% sequentially to 60,800 tons, while automotive shipments remained steady at 66,500 tons [20][21] - Aerospace and defense shipments totaled 16,500 tons, a sequential decrease of 11% but more than doubled compared to the prior year [21] - Energy customer shipments decreased by 12% sequentially to 11,400 tons due to soft demand [22] Market Data and Key Metrics Changes - The industrial distribution market is experiencing an inventory correction, with approximately 3.5 months of inventory in the distribution supply chain [41] - The automotive market remains steady, with no significant exposure to any single large OEM [40] - The energy market continues to show strict capital discipline, with demand expected to remain challenged [14] Company Strategy and Development Direction - The company is focused on through-cycle profitability and positive operating cash flow, with a strategic imperative to achieve $80 million in profitability improvements by 2026 [14][15] - The company is diversifying its portfolio, particularly in the aerospace and defense sectors, where it has secured significant programs [6][11] - A new $100 million share repurchase program has been authorized, reflecting confidence in the company's ability to generate cash flow [6][33] Management's Comments on Operating Environment and Future Outlook - Management noted a softer demand environment primarily from industrial distribution and energy customers but expressed confidence in the company's ability to navigate these challenges [6] - The second quarter is expected to see similar shipment levels to Q1, with continued softness in distribution and energy demand, while aerospace and defense demand remains strong [35] - Management anticipates a modest sequential decline in aerospace and defense shipments based on customer order timing [35] Other Important Information - The company plans to invest approximately $7 million in safety training and equipment enhancements in 2024 [7] - Pension plans were funded at approximately 80% on an accounting basis, with significant steps taken to derisk legacy pension plans [26][27] - Capital expenditures for 2024 are estimated at approximately $60 million, focusing on automation and safety projects [29] Q&A Session Summary Question: Expectations on automotive side of the business - Management does not believe they are over-exposed to any single large OEM and focuses on producing to orders received [40] Question: Inventory equilibrium in the industrial side - Management indicated it may take a quarter or two to work off excess inventory in the distribution supply chain [41] Question: SG&A increase due to rebranding - The increase is modest and primarily driven by annual merit increases and stock-based compensation [42][43] Question: Remaining 25% of profit enhancement programs - The remaining improvements will come from ongoing investments in manufacturing and IT transformation [44][45] Question: Visibility on order book and pricing - Approximately 65% of the order book is contractual, with prices expected to remain steady [56]

For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 METALLUS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1835 Dueber Avenue SW, Canton, OH ...