Metallus(US:MTUS)2025-08-07 20:29markdown [Cover Page Information](index=1&type=section&id=Cover%20Page%20Information) [General Information](index=1&type=section&id=General%20Information) Metallus Inc. filed a Form 10-Q for Q2 2025, is an Ohio-incorporated large accelerated filer, and reports 41.8 million common shares outstanding - Metallus Inc. filed a **Form 10-Q** for the quarterly period ended **June 30, 2025**[2](index=2&type=chunk) - The company is a **large accelerated filer**[3](index=3&type=chunk) Common Shares Outstanding | Class | Outstanding at July 31, 2025 | | :------------------------ | :--------------------------- | | Common Shares, without par value | 41,826,462 | [Table of Contents](index=2&type=section&id=Table%20of%20Contents) [Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Metallus Inc.'s unaudited financial statements reveal decreased net income and a shift to negative operating cash flow for H1 2025 Consolidated Statements of Operations (Unaudited) Consolidated Statements of Operations (Three Months Ended June 30) | Metric | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | Change (%) | | :----------------------------- | :---------------- | :---------------- | :---------- | :--------- | | Net sales | 304.6 | 294.7 | 9.9 | 3.4% | | Cost of products sold | 272.4 | 270.6 | 1.8 | 0.7% | | Gross Profit | 32.2 | 24.1 | 8.1 | 33.6% | | Selling, general and administrative expenses | 22.9 | 20.7 | 2.2 | 10.6% | | Loss on extinguishment of debt | 3.6 | — | 3.6 | - | | Income (Loss) Before Income Taxes | 8.6 | 6.1 | 2.5 | 41.0% | | Provision (benefit) for income taxes | 4.9 | 1.5 | 3.4 | 226.7% | | Net Income (Loss) | 3.7 | 4.6 | (0.9) | -19.6% | | Basic earnings (loss) per share | 0.09 | 0.10 | (0.01) | -10.0% | | Diluted earnings (loss) per share | 0.09 | 0.10 | (0.01) | -10.0% | Consolidated Statements of Operations (Six Months Ended June 30) | Metric | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | Change (%) | | :----------------------------- | :---------------- | :---------------- | :---------- | :--------- | | Net sales | 585.1 | 616.3 | (31.2) | -5.1% | | Cost of products sold | 531.0 | 541.6 | (10.6) | -2.0% | | Gross Profit | 54.1 | 74.7 | (20.6) | -27.6% | | Selling, general and administrative expenses | 47.2 | 44.8 | 2.4 | 5.4% | | Loss on extinguishment of debt | 3.6 | — | 3.6 | - | | Income (Loss) Before Income Taxes | 11.5 | 36.1 | (24.6) | -68.1% | | Provision (benefit) for income taxes | 6.5 | 7.5 | (1.0) | -13.3% | | Net Income (Loss) | 5.0 | 28.6 | (23.6) | -82.5% | | Basic earnings (loss) per share | 0.12 | 0.65 | (0.53) | -81.5% | | Diluted earnings (loss) per share | 0.11 | 0.62 | (0.51) | -82.3% | [Consolidated Statements of Comprehensive Income (Loss) (Unaudited)](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Unaudited)) Consolidated Statements of Comprehensive Income (Loss) (Three Months Ended June 30) | Metric | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | Change (%) | | :------------------------------------ | :---------------- | :---------------- | :---------- | :--------- | | Net income (loss) | 3.7 | 4.6 | (0.9) | -19.6% | | Foreign currency translation adjustments | 1.2 | (0.5) | 1.7 | -340.0% | | Pension and postretirement liability adjustments | (1.4) | (1.2) | (0.2) | 16.7% | | Other comprehensive income (loss), net of tax | (0.2) | (1.7) | 1.5 | -88.2% | | Comprehensive Income (Loss), net of tax | 3.5 | 2.9 | 0.6 | 20.7% | Consolidated Statements of Comprehensive Income (Loss) (Six Months Ended June 30) | Metric | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | Change (%) | | :------------------------------------ | :---------------- | :---------------- | :---------- | :--------- | | Net income (loss) | 5.0 | 28.6 | (23.6) | -82.5% | | Foreign currency translation adjustments | 1.6 | (0.5) | 2.1 | -420.0% | | Pension and postretirement liability adjustments | (2.7) | (2.3) | (0.4) | 17.4% | | Other comprehensive income (loss), net of tax | (1.1) | (2.8) | 1.7 | -60.7% | | Comprehensive Income (Loss), net of tax | 3.9 | 25.8 | (21.9) | -84.9% | [Consolidated Balance Sheets (Unaudited)](index=5&type=section&id=Consolidated%20Balance%20Sheets%20(Unaudited)) Consolidated Balance Sheets Highlights (Millions $) | Metric | June 30, 2025 | December 31, 2024 | Change ($M) | Change (%) | | :------------------------------------ | :-------------- | :---------------- | :---------- | :--------- | | Cash and cash equivalents | 190.8 | 240.7 | (49.9) | -20.7% | | Accounts receivable, net | 129.6 | 90.8 | 38.8 | 42.7% | | Inventories, net | 223.4 | 219.8 | 3.6 | 1.6% | | Total Current Assets | 560.5 | 587.3 | (26.8) | -4.6% | | Property, plant and equipment, net | 523.1 | 507.3 | 15.8 | 3.1% | | Total Assets | 1,112.0 | 1,116.7 | (4.7) | -0.4% | | Accounts payable | 143.7 | 119.2 | 24.5 | 20.6% | | Accrued pension and postretirement costs (current) | 14.9 | 66.5 | (51.6) | -77.6% | | Current convertible notes, net | — | 5.4 | (5.4) | -100.0% | | Government funding liabilities | 73.1 | 53.5 | 19.6 | 36.6% | | Total Current Liabilities | 276.2 | 281.5 | (5.3) | -1.9% | | Total Liabilities | 422.0 | 426.2 | (4.2) | -1.0% | | Total Shareholders' Equity | 690.0 | 690.5 | (0.5) | -0.1% | [Consolidated Statements of Shareholders' Equity (Unaudited)](index=6&type=section&id=Consolidated%20Statements%20of%20Shareholders'%20Equity%20(Unaudited)) Shareholders' Equity Changes (Six Months Ended June 30, 2025) | Item | Amount (Millions $) | | :------------------------------------ | :------------------ | | Balance As of December 31, 2024 | 690.5 | | Net income (loss) | 5.0 | | Other comprehensive income (loss) | (1.1) | | Stock-based compensation expense | 7.1 | | Purchase of treasury shares, including excise tax | (8.9) | | Issuance of treasury shares | — | | Shares surrendered for taxes | (2.6) | | Balance As of June 30, 2025 | 690.0 | - **Common shares outstanding decreased** from **42,267,308** at **December 31, 2024**, to **41,892,846** at **June 30, 2025**[17](index=17&type=chunk) [Consolidated Statements of Cash Flows (Unaudited)](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) Consolidated Statements of Cash Flows (Six Months Ended June 30) | Activity | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | | :------------------------------------ | :---------------- | :---------------- | :---------- | | Net cash provided (used) by operating activities | (4.1) | 41.7 | (45.8) | | Net cash provided (used) by investing activities | (25.6) | (21.5) | (4.1) | | Net cash provided (used) by financing activities | (20.6) | (28.1) | 7.5 | | Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | (50.3) | (7.9) | (42.4) | | Cash, Cash Equivalents, and Restricted Cash at End of Period | 191.6 | 273.4 | (81.8) | - **Operating cash flow shifted** from a **positive $41.7 million** in **H1 2024** to a **negative $4.1 million** in **H1 2025**, primarily due to **higher working capital use**, **lower profitability**, and **increased pension contributions**[121](index=121&type=chunk) - **Capital expenditures increased** to **$45.3 million** in **H1 2025** from **$31.5 million** in **H1 2024**[20](index=20&type=chunk)[122](index=122&type=chunk) [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) - **No new Accounting Standard Updates (ASU) were adopted** in the **second quarter of 2025**. The Company is evaluating the impact of **ASU 2024-03** (Disaggregated Expenses) and **ASU 2023-09** (Income Tax Disclosures) for future periods, with no impact on current results or financial condition[22](index=22&type=chunk)[23](index=23&type=chunk) - The Company operates and reports financial results as one business segment, consistent with how the Chief Operating Decision Maker (CODM) evaluates performance[24](index=24&type=chunk) - Received **$5.1 million** in **Q2 2025** and **$18.0 million** in **H1 2025** from a **$99.75 million U.S. Army funding agreement** to support **munitions production**. **$29.2 million** in **capital spending** related to these assets occurred in **H1 2025**[26](index=26&type=chunk) Net Sales by End-Market (Three Months Ended June 30) | End-Market | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | Change (%) | | :---------------- | :---------------- | :---------------- | :---------- | :--------- | | Industrial | 104.4 | 103.0 | 1.4 | 1.4% | | Automotive | 122.8 | 122.3 | 0.5 | 0.4% | | Aerospace & Defense | 42.1 | 43.7 | (1.6) | -3.7% | | Energy | 30.8 | 20.9 | 9.9 | 47.4% | | Other | 4.5 | 4.8 | (0.3) | -6.3% | | **Total Net Sales** | **304.6** | **294.7** | **9.9** | **3.4%** | - The **effective tax rate increased significantly** to **57.0%** for **Q2 2025** (vs. **24.6%** in **Q2 2024**) and **56.5%** for **H1 2025** (vs. **20.8%** in **H1 2024**), primarily due to **lower net income** and **limitations on the tax deductibility** of the **loss on extinguishment of debt**[35](index=35&type=chunk) - The Company repaid the remaining **$5.5 million principal amount** of its **Convertible Senior Notes due 2025** in cash, recognizing a **$3.6 million loss on extinguishment of debt**. As of **June 30, 2025**, there are **no outstanding borrowings**[48](index=48&type=chunk) - Metallus contributed **$58.5 million** in **pension contributions** in the **first half of 2025**, mostly to the Bargaining Plan, and anticipates an additional **$3.5 million** for the remainder of **2025**[56](index=56&type=chunk) - **Stock-based compensation expense** was **$3.7 million** for **Q2 2025** and **$7.1 million** for **H1 2025**. Future **stock-based compensation expense** related to **unvested awards** is approximately **$26.0 million**[67](index=67&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Metallus Inc.'s financial performance, noting mixed sales, strong liquidity, and settled convertible notes [Overview](index=19&type=section&id=Overview) - Metallus Inc. manufactures alloy, carbon, and micro-alloy steel products (SBQ bars, seamless mechanical tubing, manufactured components, and billets) for industrial, automotive, aerospace & defense, and energy end-markets, operating as a single business segment[71](index=71&type=chunk)[72](index=72&type=chunk) - **Capital investments totaled $17.8 million** in **Q2 2025** and **$45.3 million** in **H1 2025**, including **$15.3 million** and **$29.2 million** for **U.S. government-funded projects** aimed at improving safety, automation, quality, and efficiency[74](index=74&type=chunk) - The Company received **$5.1 million** in **Q2 2025** and **$18.0 million** in **H1 2025** from a **$99.75 million U.S. Army funding agreement** to **increase munitions production**, with **total funding received** to date of **$71.5 million**[74](index=74&type=chunk)[75](index=75&type=chunk) - **Total liquidity** was **$437.0 million** as of **June 30, 2025**, including **$190.8 million** in cash and cash equivalents. **Operating cash flow** for **Q2 2025** was **$34.8 million**[76](index=76&type=chunk) - The Company **repurchased 0.3 million common shares** for **$3.3 million** in **Q2 2025** and **0.7 million** for **$8.9 million** in **H1 2025**, with **$93.9 million** remaining under its authorized **share repurchase program**[76](index=76&type=chunk) - The remaining **$5.5 million principal** of **convertible notes was settled** for **$9.1 million**, resulting in **no outstanding borrowings** as of **June 30, 2025**[76](index=76&type=chunk) - Recent **trade developments**, including **increased tariffs on steel imports**, are expected to **positively impact demand** for Metallus products[76](index=76&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) - **Net sales** for **Q2 2025 increased by $9.9 million (3.4%)** to **$304.6 million**, driven by **higher shipments ($26.4 million)** and **favorable surcharges ($7.6 million)**, partially offset by **unfavorable price/mix ($24.1 million)** due to **lower base prices**[80](index=80&type=chunk) - **Net sales** for **H1 2025 decreased by $31.2 million (5.1%)** to **$585.1 million**, primarily due to **unfavorable price/mix ($50.2 million)** and **lower surcharges ($3.8 million)**, partially offset by **higher shipments ($22.8 million)**[83](index=83&type=chunk) - **Gross profit** for **Q2 2025 increased by $8.1 million (33.6%)** to **$32.2 million**, driven by higher volume, **better manufacturing performance**, and **favorable raw material spread**, partially offset by **unfavorable price/mix**[87](index=87&type=chunk) - **Gross profit** for **H1 2025 decreased by $20.6 million (27.6%)** to **$54.1 million**, primarily due to **unfavorable price/mix**, partially offset by **better manufacturing performance**, higher volume, and **favorable raw material spread**[91](index=91&type=chunk) - **Selling, General and Administrative (SG&A) expenses increased by $2.2 million (10.6%)** to **$22.9 million** in **Q2 2025** and by **$2.4 million (5.4%)** to **$47.2 million** in **H1 2025**, mainly due to **higher variable pay compensation** and **salary and benefits**[95](index=95&type=chunk) - **Net interest income decreased** to **$1.3 million** for **Q2 2025** (vs. **$2.4 million** in **Q2 2024**) and **$2.8 million** for **H1 2025** (vs. **$5.2 million** in **H1 2024**), attributed to lower cash invested in interest-generating accounts[97](index=97&type=chunk) - The **provision for income taxes** for **Q2 2025** was **$4.9 million** (**effective tax rate 57.0%**) compared to **$1.5 million (24.6%)** in **Q2 2024**. For **H1 2025**, it was **$6.5 million (56.5%)** compared to **$7.5 million (20.8%)** in **H1 2024**, with the **increase in effective tax rate** primarily due to **lower net income** and **limitations on tax deductibility** of **debt extinguishment loss**[102](index=102&type=chunk) [Non-GAAP Financial Measures](index=28&type=section&id=Non-GAAP%20Financial%20Measures) - Metallus Inc. presents net sales by end-market, adjusted to exclude raw material and energy surcharges, to provide additional insight into **core pricing** and **market trends**, as surcharges can introduce **volatility**[105](index=105&type=chunk) Net Sales by End-Market, Excluding Surcharges (Three Months Ended June 30, 2025) | End-Market | Ship Tons (Thousands) | Net Sales (Millions $) | Surcharges (Millions $) | Base Sales (Millions $) | | :---------------- | :-------------------- | :--------------------- | :---------------------- | :---------------------- | | Industrial | 66.5 | 104.4 | 28.6 | 75.8 | | Automotive | 69.6 | 122.8 | 24.8 | 98.0 | | Aerospace & Defense | 15.4 | 42.1 | 5.7 | 36.4 | | Energy | 16.2 | 30.8 | 7.8 | 23.0 | | Other | — | 4.5 | — | 4.5 | | **Total** | **167.7** | **304.6** | **66.9** | **237.7** | Net Sales by End-Market, Excluding Surcharges (Six Months Ended June 30, 2025) | End-Market | Ship Tons (Thousands) | Net Sales (Millions $) | Surcharges (Millions $) | Base Sales (Millions $) | | :---------------- | :-------------------- | :--------------------- | :---------------------- | :---------------------- | | Industrial | 132.8 | 206.1 | 55.1 | 151.0 | | Automotive | 133.6 | 236.0 | 46.5 | 189.5 | | Aerospace & Defense | 24.0 | 74.6 | 9.1 | 65.5 | | Energy | 30.1 | 59.5 | 14.5 | 45.0 | | Other | — | 8.9 | — | 8.9 | | **Total** | **320.5** | **585.1** | **125.2** | **459.9** | [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) Key Liquidity Measures (Millions $) | Metric | June 30, 2025 | December 31, 2024 | Change ($M) | Change (%) | | :-------------------------- | :-------------- | :---------------- | :---------- | :--------- | | Cash and cash equivalents | 190.8 | 240.7 | (49.9) | -20.7% | | Credit Agreement Availability | 246.2 | 217.9 | 28.3 | 13.0% | | Total liquidity | 437.0 | 458.6 | (21.6) | -4.7% | - The Company repaid the remaining **$5.5 million principal amount** of its **Convertible Senior Notes due 2025**, resulting in a **$3.6 million loss on extinguishment of debt** and **no outstanding debt** as of **June 30, 2025**[111](index=111&type=chunk) - Expected **capital expenditures** for **2025** are approximately **$125 million**, with about **$90 million funded** by the **U.S. government**[114](index=114&type=chunk) - The Company contributed **$58.5 million** in **pension contributions** in **H1 2025** and anticipates an additional **$3.5 million** for the remainder of **2025**[115](index=115&type=chunk) - Metallus **repurchased approximately 0.7 million common shares** for **$8.9 million** in **H1 2025**, with **$93.9 million** remaining under its authorized **share repurchase program** as of **June 30, 2025**[118](index=118&type=chunk) Cash Flows Summary (Six Months Ended June 30) | Activity | 2025 (Millions $) | 2024 (Millions $) | Change ($M) | | :------------------------------------ | :---------------- | :---------------- | :---------- | | Net cash provided (used) by operating activities | (4.1) | 41.7 | (45.8) | | Net cash provided (used) by investing activities | (25.6) | (21.5) | (4.1) | | Net cash provided (used) by financing activities | (20.6) | (28.1) | 7.5 | [Critical Accounting Policies and Estimates](index=32&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) - The preparation of financial statements in accordance with **U.S. GAAP** requires management to make estimates and assumptions that affect reported amounts of assets, liabilities, revenues, and expenses[125](index=125&type=chunk) - Critical accounting policies are reviewed periodically throughout the year[125](index=125&type=chunk) [New Accounting Guidance](index=32&type=section&id=New%20Accounting%20Guidance) - Refer to "Note 2 - Recent Accounting Pronouncements" in the Notes to the unaudited Consolidated Financial Statements for details on new accounting guidance[126](index=126&type=chunk) [Forward-Looking Statements](index=32&type=section&id=Forward-Looking%20Statements) - The report contains forward-looking statements regarding forecasts, beliefs, and expectations, which are subject to various risks and uncertainties[127](index=127&type=chunk) - Actual results may differ materially due to factors such as fluctuations in customer demand, changes in operating costs, success of operating plans, pension obligations, climate-related risks, litigation, cyber risks, and global economic conditions[127](index=127&type=chunk)[130](index=130&type=chunk) - The Company does not undertake any obligation to publicly update or revise any forward-looking statement[129](index=129&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in market risk exposure since December 31, 2024, with details in the Annual Report on Form 10-K - **No material changes** in the Company's exposure to market risk since **December 31, 2024**[130](index=130&type=chunk) - For detailed disclosures, refer to Item 7A "Quantitative and Qualitative Disclosures About Market Risk" in the Annual Report on **Form 10-K** for the fiscal year ended **December 31, 2024**[130](index=130&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management confirmed effective disclosure controls and no material changes in internal control over financial reporting for Q2 2025 - **Disclosure controls and procedures were effective** as of **June 30, 2025**, based on evaluation by management, including the principal executive officer and principal financial officer[131](index=131&type=chunk) - **No changes in internal control over financial reporting** have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting during the most recent fiscal quarter[132](index=132&type=chunk) [Part II. Other Information](index=35&type=section&id=Part%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) Metallus Inc. faces ordinary legal actions, with no expected material adverse effect on financial results - The Company is involved in various claims and legal actions arising in the ordinary course of business[134](index=134&type=chunk) - Management believes the ultimate disposition of these matters will not have a **material adverse effect** on the Company's financial position, results of operations, or cash flows[134](index=134&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) Refer to the Annual Report on Form 10-K for a comprehensive discussion of Metallus Inc.'s business risks - For a discussion of risks and uncertainties, refer to the "Risk Factors" section in the Annual Report on **Form 10-K** for the year ended **December 31, 2024**[135](index=135&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Metallus Inc. repurchased 0.3 million common shares in Q2 2025, with $92.8 million remaining in the program Common Share Repurchase Activity (Three Months Ended June 30, 2025) | Month | Total number of shares purchased | Average price paid per share ($) | | :---------- | :------------------------------- | :------------------------------- | | April, 2025 | 96,130 | 12.47 | | May, 2025 | 87,985 | 12.55 | | June, 2025 | 71,287 | 14.24 | | **Quarter-to-date** | **255,402** | **12.99** | - As of **July 31, 2025**, the Company had a balance of **$92.8 million** remaining under its authorized **share repurchase program**[137](index=137&type=chunk) - The Board of Directors has authorized up to **$225.0 million** for the **share repurchase program** since **December 20, 2021**, with no expiration date[139](index=139&type=chunk) [Item 5. Other Information](index=36&type=section&id=Item%205.%20Other%20Information) Several Metallus Inc. officers adopted Rule 10b5-1 trading plans for share sales, commencing August-September 2025 - Kristopher R. Westbrooks, President and COO, adopted a **10b5-1 trading arrangement** for up to **12,000 common shares** and **12,104 stock option shares**, scheduled to start no earlier than **September 10, 2025**[141](index=141&type=chunk) - Kevin Raketich, Executive Vice President and CCO, adopted a **10b5-1 trading arrangement** for up to **20,000 common shares** and **16,000 stock option shares**, scheduled to start no earlier than **August 22, 2025**[142](index=142&type=chunk) - Michael S. Williams, CEO, adopted a **10b5-1 trading arrangement** for up to **100,000 common shares** acquired upon exercise of stock options, scheduled to start no earlier than **September 22, 2025**[144](index=144&type=chunk) - All named officers are expected to remain in compliance with their share ownership guidelines following the sales[145](index=145&type=chunk) [Item 6. Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including CEO/CFO certifications and XBRL documents - Includes **Certification of the Chief Executive Officer** (Exhibit **31.1**) and **Chief Financial Officer** (Exhibit **31.2**) pursuant to **Rule 13a-14** of the Exchange Act and **Section 302** of the **Sarbanes-Oxley Act of 2002**[147](index=147&type=chunk) - Includes **Certifications of Chief Executive Officer** and **Chief Financial Officer** pursuant to **18 U.S.C. 1350** and **Section 906** of the **Sarbanes-Oxley Act of 2002** (Exhibit **32.1**)[147](index=147&type=chunk) - Includes **Inline XBRL Instance Document**, **Taxonomy Extension Schema Document**, and Cover Page Interactive Data File (Exhibit **101.INS**, **101.SCH**, **104**)[147](index=147&type=chunk) [Signatures](index=38&type=section&id=Signatures) The Form 10-Q report was signed on August 7, 2025, by the Principal Financial Officer - The report was signed on **August 7, 2025**[152](index=152&type=chunk) - Signed by John M. Zaranec, Executive Vice President and Chief Financial Officer (**Principal Financial Officer**) of Metallus Inc[152](index=152&type=chunk)