MTUS

Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 9:00 a.m. ET Senior Manager, Finance and Investor Relations - Jenna Johnson Chief Executive Officer - Michael Williams President and Chief Operating Officer - Kris Westbrooks Executive Vice President and Chief Financial Officer - John Zaranec Operator: Hello, everyone. Thank you for joining us, and welcome to the 2Q 2026 Metallus Inc. Earnings Call. [Operator Instructions] I will now hand the conference over to Jenna Johnson. Please go ahead. Jenna Johnson: Good morning, and welcome to Metallus' Second Quarter 2026 Conference Call. I'm Jenna Johnson, Senior Manager, Finance and Investor Relations for Metallus. Joining me today are Mike Williams, Chief Executive Officer; Kris Westbrooks, President and Chief Operating Officer; and John Zaranec, Executive Vice President and Chief Financial Officer. You should have received a copy of our press release, which was issued last night. During today's conference call, we may make forward-looking statements as defined by the SEC. Actual results may differ materially from those projected or implied due to a variety of factors, which we describe in greater detail in yesterday's release. Please refer to our SEC filings, including our most recent Form 10-Q, which will be filed later today as well as the risk factors included in our earnings release, all of which are available on the Metallus website. Where non-GAAP financial information is referenced, additional details and reconciliations to its GAAP equivalent are included in the earnings release and earnings presentation available on the Investor page at metallus.com. Now I'll turn the call over to Mike Williams for his remarks. Michael Williams: Thank you, Jenna, and thank you all for joining us today. In the second quarter, we generated adjusted EBITDA of $29 million, improving profitability, both sequentially and year-over-year. This is consistent with the expectations we outlined earlier this year. Increased shipments, higher melt utilization, improved pricing and product mix and solid operating performance drove the improvement. We also continue to benefit from healthy demand across our end markets with the order book up over 50% year-over-year, providing strong visibility heading into the second half of the year. Our second quarter results reflect the progress we continue to make against our strategic priorities and underscore the strength of our existing and diversifying end markets and customer relationships. As we enter 2026, our focus was simple: improve profitability versus the prior year through consistent execution, commercial excellence and operational improvement. Our first half performance demonstrates the progress we are making towards that objective with safety remaining our top priority. At Metallus, we continue strengthen our safety culture across our facilities through targeted training, enhanced tools and increased accountability. We also continue to make significant progress with our strategic capital investments with early indicators suggesting these initiatives are positioned to deliver meaningful commercial and operational benefits over time. The bloom reheat furnace was fully commissioned in early July and is improving process consistency, enhancing downstream product flow and increasing reliability across the facilities. These improvements are supporting stronger operational execution and position us for greater throughput and productivity gains. At the same time, commissioning of the roller furnace remains on track and is progressing as planned. These investments, which were supported in part by U.S. government funding, are expected to improve throughput, quality, efficiency and service levels for our customers once fully operational. Together, they represent an important step forward in strengthening Metallus' manufacturing capabilities, enhancing our ability to serve critical aerospace and defense programs and strengthening our ability to meet increasing customer demand across industrial, automotive and energy markets. In the third quarter, we look forward to celebrating these investments at our ribbon-cutting ceremony and hosting representatives from the U.S. government, key defense customers and industry partners as we mark this important milestone for the company. The event will highlight the successful partnership between Metallus and the U.S. government in supporting the defense industrial base. Strong customer demand and a continued growing backlog provide confidence as we begin the second half of the year. Lead times for both our engineered SBQ bar and seamless mechanical tubing products have extended into late fourth quarter 2026, reflecting healthy demand across all markets and ongoing inventory replenishment activity. Turning to the end markets. Our diversified end market portfolio continues to provide balance across market cycles, while creating opportunities for profitable growth and increasing participation in attractive growing markets. Automotive remains a core market for Metallus and an important contributor to our long-term growth strategy. Auto shipments during the second quarter grew 12% sequentially and 8% year-over-year. Demand across targeted light truck and SUV applications have remained steady, reflecting the value our long-standing customers place on our quality, technical expertise and reliability. We are also pleased to announce that we secured a new multi-year award for ring gears on a leading automakers hybrid transmission platform. Production is expected to begin in 2028. This award further demonstrates our ability to win strategic business on key vehicle platforms while positioning Metallus to benefit from continued hybrid vehicle adoption. While industrial shipments in the quarter were down slightly sequentially and year-over-year due to balancing customer requirements with order and shipment timing. Industrial markets remain strong and represent one of the largest portions of our order book growth. Our industrial backlog has nearly doubled compared with the prior year, providing strong visibility into future demand. We look forward to delivering for our customers to meet the growing industrial demand in the second half of 2026 as we advance our operational improvements and assets throughput initiatives. In Energy, demand remained stable despite a cautious capital spending environment, while geopolitical and commodity price uncertainty has moderated activity levels, reduced import competition and improving domestic production are supporting demand for our seamless tubing products. These market conditions are helping improve utilization of our seamless tube assets and create additional opportunities moving forward. Aerospace and defense remains one of our most attractive growth opportunities, and that momentum was evident in the second quarter when we delivered record shipment tons and sales for these products. Demand continues to be supported by new defense initiatives and existing program replenishment efforts, driving backlog growth. This momentum supports our confidence in achieving our targeted $250 million revenue run rate and highlights the increasingly important role Metallus plays in serving critical defense markets. We were also pleased to achieve AS9100D certification during the quarter, an important and widely recognized quality standard in the aerospace and defense industries. This certification gives customers added confidence in our ability to deliver the quality, reliability and consistency required for mission-critical applications. It also strengthens our competitive position, supporting our VAR growth strategy and expanding opportunities in high-value markets. I'd like to congratulate our team on this achievement. Earning the AS9100D certification was a significant cross-functional effort that required dedication, collaboration and discipline across the organization. Most importantly, it reflects the culture of continuous improvement and operational excellence that is embedded throughout Metallus. In closing, Metallus is a stronger and more resilient company today than it was just a few years ago. We are continuing to maintain a strong balance sheet, improve our operating performance, invest in key manufacturing capabilities, enhance partnerships with existing customers while broadening our customer portfolio and sharpen our focus on the most attractive opportunities within the specialty metals market. Our priorities remain clear: operate safely; serve our customers reliably; execute our strategic initiatives; and deliver sustainable value to our shareholders. I am proud of what our team accomplished during the second quarter, and I am encouraged by the opportunities ahead. With that, I'll turn the call over to John to review our second quarter financial results in more detail. John Zaranec: Thanks, Mike. Good morning, and thank you for joining our second quarter 2026 earnings call. During the quarter, our team delivered improvements in shipments, net sales and profitability on both a sequential and year-over-year basis, consistent with our expectations. As Mike noted, we also safely advanced operational and strategic investments to support near- and long-term business growth while maintaining a strong balance sheet. From a top line revenue perspective, second quarter net sales totaled $341 million, a year-over-year increase of $36.4 million or 12%, primarily driven by higher shipments in aerospace and defense and automotive. Net income was $8.9 million in the second quarter or $0.21 per diluted share. On an adjusted basis, net income was $11.1 million or $0.26 per diluted share. Adjusted EBITDA was $29 million in the second quarter, a year-over-year increase of $2.5 million or 9%. The increased profitability was primarily driven by improved prices, improved mix and higher shipments, partially offset by manufacturing performance. As melt utilization improved, but fell short of plan to fully offset the known increases in energy costs and the first full quarter of labor related to the newly ratified union contract. In the second quarter, operating cash flow totaled $12.8 million, driven by profitability and lower inventory, partially offset by higher accounts receivable at the end of the quarter from increased sales and lower accounts payable due to the timing of raw material purchases. In the second quarter, capital expenditures totaled $15.2 million, including approximately $9.5 million related to the projects primarily funded by the U.S. government. Consistent with our previous communications, planned capital expenditures for the full year 2026 are expected to be approximately $70 million, inclusive of approximately $35 million of capital expenditures primarily funded by the U.S. government. At the end of the second quarter, the company's cash and cash equivalents balance was $108.6 million. As it relates to government funding, during the second quarter, the company received the final $11.3 million of cash funding from the U.S. Army. As a reminder, these funds are part of the previously announced nearly $100 million funding agreement in support of the U.S. Army's mission of increasing munitions production. This funding substantially paid for both the new bloom reheat furnace at the company's Faircrest facility as well as the new roller furnace at the Gambrinus facility. Now switching to pensions. In the second quarter, the company made $5.4 million of required pension contributions related to the U.S. bargaining plan. Based on our updated actuarial analysis, no additional pension contributions are expected for the remainder of 2026. As a reminder, our 2026 pension contributions represent a reduction of over 60% when compared to 2025. In terms of shareholder return activities, in the second quarter, the company repurchased approximately 190,000 shares of common stock at a cost of $3.6 million. At the end of June, a balance of $81.8 million remained under our existing share repurchase program. Since the inception of common share repurchases in early 2022, combined with the convertible note repurchase activities, we've reduced diluted shares outstanding by a significant 26% or 14 million shares. These actions reflect the strength of the company's balance sheet and confidence in through-cycle cash flow generation. As it relates to liquidity, on June 30, 2026, the company refinanced its asset-based revolving credit facility and extended the maturity date to June 2031. After the amendment, the credit facility committed capacity is now $300 million. The new agreement includes an increase in the optional credit facility expansion feature to $200 million and also includes a variety of improvements in other financial terms and covenants, including reduced annual fees. The refinance agreement provides us with the flexibility to pursue our strategic initiatives as total liquidity remains strong at $395 million as of June 30, 2026. At the end of the second quarter, the company had no outstanding borrowings. Turning to the near-term business outlook. Commercially, third quarter shipments are expected to be similar to the second quarter based on customer mix and lead time expectations. Lead times for bar and tube products currently extend into late fourth quarter. Based on lead times and product mix, third quarter price and mix are expected to be slightly better than in the second quarter. The company recently announced price increases effective early August for customers not covered by annual pricing agreements of $60 per ton on bar, $100 per ton on carbon seamless mechanical tubing and $160 per ton on alloy seamless mechanical tubing products. Based on lead times, the company expects to realize the full run rate benefit of these price increases beginning in 2027. From an operational perspective, the company anticipates a slight sequential increase in its third quarter average melt utilization rate, supported by a strong order book. Manufacturing costs are expected to be relatively flat in the third quarter as a result of slightly higher melt utilization, offset by increased planned maintenance outages. Finally, an adjusted effective income tax rate of between 27% and 30% is expected for the full year 2026. Given these elements, the company expects third quarter 2026 adjusted EBITDA to be slightly higher sequentially and year-over-year, consistent with our message throughout the year of increased profitability each quarter. To wrap up, thank you to all of our employees, customers and suppliers for their support. The progress we have made in the first half of 2026 demonstrates our position as a high-quality U.S.-based specialty metals producer, supporting critical markets. As we continue to move forward in 2026, our focus is on safe execution to meet continued rising customer demand. We remain committed to delivering shareholder value through disciplined capital allocation and sustained profitable growth. As always, thank you for your interest in Metelus. We would now like to open the call for questions. Operator: [Operator Instructions] Our first question comes from the line of Dave Storms with Stonegate. David Storms: Maybe I wanted to start with one -- I wanted to start with a clarification on the pricing increases. It sounded like you'll see full run rate in 2027. Just want to confirm, that's on the 30% of your order book that is not contracted, correct? That's the spot price portion of your order book? Michael Williams: That is correct. David Storms: Okay. Perfect. So then we should expect maybe '27, '28 of those increases on the contracted portion of your order book, if that sounds fair. And then I guess maybe just the general question here is, how are those conversations going? Are customers being pretty receptive and understanding of the economic environment that we're in? Or any nuance there that we should be aware of? Michael Williams: Well, I mean, look, I mean, all the negotiations with our customers are held in high confidence. So we really don't discuss publicly how those are going. To be honest with you, they haven't really started yet. There's some preliminary discussions. And -- but I also want to qualify something. I don't -- I'm not sure we could predict what 2028 pricing is going to look like. But I will comment about 2027 as -- this has been a year where demand has improved, which naturally drives utilization rates and naturally drives potentially higher pricing acceptance in the market, and that's what we've seen so far this year. It does establish a starting point or a base of price negotiations for 2027, which tends to be positive in that nature. So 2027 is far from yet to be determined. But as that gets more clarified, we probably can talk a little bit more about that around the early first quarter when we review the fourth quarter results. Operator: Your next question from the line of Samuel McKinney with KeyBanc Capital Markets. Samuel McKinney: You had a nice step-up in A&D sales in the second quarter, and it represents an annualized revenue of around $240 million, pretty close to the previously communicated target. So a 2-part question. Can you provide some more details around the biggest drivers behind the sequential revenue increase? And second, should we expect you to hit that $250 million annualized run rate in the third quarter? Michael Williams: Yes. I mean I would say that it's a combination of the step-up in sales. It's continued to increase in demand on the 155-millimeter munitions and also other munitions and then you combine that with the new programs that we've been awarded and are starting to see that demand materialize, that's what really drove the step-up in Q2. We do expect that to continue to improve over the next year as more and more of these new programs ramp up their manufacturing capacity, and we're there to supply them. So we're pretty excited about that. And we continue to work on new programs that will potentially have opportunities to ramp up in 2027, 2028. Samuel McKinney: Okay. And then the second quarter melt you... Michael Williams: [indiscernible] Before you asked that question. I just wanted to confirm your last part of your question. Yes, we -- our expectation is that we'll achieve that $250 million, at least that $250 million run rate by the end of this year. Samuel McKinney: Okay. So by the end of the year? Michael Williams: Yes. Samuel McKinney: Okay. And then second quarter melt utilization, 74%, up a little bit versus the first quarter, but it seems like you guys were looking to do a little bit better than 74%. So if you could just provide us all with a little more detail on why melt utilization improved less than you expected during the quarter? Michael Williams: Yes. Some of it's tied to power interruptions on our interruptible supply agreement. But more so is it really comes down to our shop floor execution and our maintenance reliability. We had expected better progress in that area in Q2. We did see positive progress, but not as much as we were planning for. And that's kind of how we guided what we felt the manufacturing costs were going to be. That's probably the biggest single opportunity we have to drive further cost improvement. And these new strategic investments in these assets are going to help us do that as well. So I think we're on the right path. We're on the right trend. I think we guided to that we do expect utilization to improve in Q3. And then just to qualify the fact that Q4 is when we have our very large maintenance outage. So everything that we do that we're focused on the shop floor execution, our strategic and our tactical investments are centered around reliability and improving our execution on the shop floor. Operator: [Operator Instructions] Our next question comes from the line of Aaron Reed with Northcoast Research. Aaron Reed: Yes, I just want to briefly touch on the backlog in the industrial doubling. Can you provide any more insights into maybe what subcategories or what industries are really driving that demand right now? Michael Williams: Well, I'd say, the #1 is really the industrial base that serves the yellow goods market. So it's really being driven by construction and mining equipment. And then you combine that with some other areas of improvement, a little bit of ag, a little bit of rail. That's predominantly it, but really, the majority of it is coming from the yellow goods sector. Aaron Reed: Okay. That makes sense. That's helpful. And then the follow-up question is, I was wondering if you had any more insights as we get closer to '27 in terms of the cadence for revenue generation from the A&D sector. I know that can kind of be a little bit choppy. I wasn't sure if that became a little less opaque as we get further along in the year. Michael Williams: Well, there's a lot of things downstream from us being a primary material supplier to those specialty metal applications that we don't have control of. So what we are seeing is higher utilization in the munition sector ramping up existing capacity, and we see new entrants coming in to those sector as well. And that's where we're seeing increased demand. We're going to have a much better picture of it probably early next year as we go through our annual contract discussions. Very few of these people are on spot arrangements. And it's also going to be enhanced by a number of program awards that we're working on right now to secure for 2027 and beyond. So it's a little gray right now, but we do expect munitions to continue to increase in demand through next year because that's what they're forecasting. And then really, it comes down to all these new award -- programs that we're trying that win awards of -- for 2027. Operator: Your next question from the line of John Franzreb with Sidoti & Company. John Franzreb: I'd just like to revisit the maintenance downtime that you expect in the third quarter. Can you talk to us a little bit about what you're doing and the potential impact on results in the 3Q? Michael Williams: Yes. So typically, we tend to do -- our non-bottleneck downstream asset maintenance tends to be a couple of million bucks in the quarter. It's all planned maintenance and unplanned maintenance. So we're very aware of what those planned costs are going to be, and that's why we guided to that effect in Q3. John Zaranec: Yes, John, we're doing that every quarter. It's just there's a little bit more in Q3 than Q2. John Franzreb: Got it. Was that the result of -- it sounds like maybe you didn't hit your maintenance targets in 2Q and you're playing that out in 3Q. Am I reading that properly or no? Michael Williams: No. I mean we did have -- we did have some of our -- we had our normal maintenance spend in Q2. However, it wasn't our normal planned spend. And -- but we expected a higher amount of utilization to offset that, and that didn't totally occur. Kristopher Westbrooks: John, this is Kris. [indiscernible] that we're doing in Q3, it's -- the work in Q3 is well planned a year ago. We've been working on these plans for the tube mills and thermal treat assets, and that will be our focus in Q3 to complete that over a week and get it back and running. John Franzreb: Got it. And then just on 2 of the end markets, are there any changes in your thoughts about what's in the second half versus the first half in the automotive business? And similarly, I'm curious what your thoughts are on the Energy side. I guess with all the pricing and opportunity out there, I would just think that might be a little bit stronger doesn't seem to be the case for you. Michael Williams: Yes. In regards to automotive, you have to look at the platforms that we're on. So we're on the SUVs and the trucks. So we can -- expect that -- it's been healthy for us. I think the overall increase in shipments in Q2 versus Q1 was really timing. And then we expect basically flat demand for those platforms that we're on. That's what's being forecasted, and that's what we have built in. So those platforms have been healthy compared to the passenger car platforms. And so that's what we expect. If you look at the build rates that they're forecasting for the year, they're up slightly year-over-year, but pretty much in line with what they were forecasting for this year. So we don't really see any significant increase, but we'll see as we go. If they demand it, we'll figure out how to supply it. What was the second part of your question, John? Energy, oh... John Franzreb: [ Some of the ] thoughts on energy. Michael Williams: Yes. Energy is kind of -- it's fairly volatile, but I would say that, yes, we are seeing improvement in demand and opportunities in Energy. That's heavily being influenced by a slight increase in the number of drilling activity in the United States and also the trade tariff environment helps us in that regard. We see these domestic global energy companies trying to secure more domestic supply than relying on a global supply chain for their needs. So that's what we're seeing. Operator: [Operator Instructions] Our next question from the line of Dave Storms with Stonegate. David Storms: Just wanted to ask a quick follow-up on aerospace and defense. You mentioned a couple of times that you've had some new program awards there. Just curious, with this new AS9100D certification, is that going to or already driving new awards? Is that more just table stakes? Maybe any more color there would be helpful. Michael Williams: Well, what the certification does is it verifies and validates our -- the discipline of our quality management system and our execution on the shop floor to comply with those very high restrictive quality requirements, what it does for us from a customer standpoint. We just were recently awarded that and recently announced that. So that's -- it's a marketable capability for us, and it broadens the number of customers and applications that we can serve. So we expect -- do expect that, that will broaden our opportunities in the A&D space to get more business and continue to grow that very attractive end market for us. Operator: There are no further questions at this time. I will now turn the call back to Jenna for closing remarks. Jenna Johnson: Thank you for joining us today, and that concludes our call. Operator: This concludes today's call. Thank you for attending. You may now disconnect. Before you buy stock in Metallus, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Metallus wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $399,832!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,374,595!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 10, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Metallus (MTUS) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Shares of Carpenter Technology Corporation CRS gained 7% since reporting adjusted earnings of $3.23 per share for the fourth quarter of fiscal 2026 on July 30, beating the Zacks Consensus Estimate of $3.03 by 6.6%. Earnings rose 46.2% from $2.21 in the year-ago quarter.Net revenues increased 12.6% year over year to $851 million and topped the consensus estimate of $848 million by 0.4%. The upside reflected 22% higher shipment volume, stronger product mix, pricing realization and improved operating efficiency. Carpenter Technology Corporation price-consensus-eps-surprise-chart | Carpenter Technology Corporation Quote Aerospace and Defense remained the largest end market. CRS witnessed a year-over-year revenue increase of 17% in the Aerospace and Defense end-use market. Revenues in the Industrial and Consumer market rose 22%, while Transportation revenues increased 3%. The Medical end-use market’s revenues declined 30% and Energy revenues fell 12%. The cost of goods sold in the fourth quarter of fiscal 2026 increased 7.5% year over year to $582 million. Gross profit rose 25.7% to $269 million. The gross margin came in at 31.6% compared with 28.3% in the prior-year quarter.Adjusted operating income in the reported quarter was a record $207 million compared with $151.4 million in the year-ago quarter. The adjusted operating margin was 30.4% compared with 24.3% a year earlier. The Specialty Alloys Operations segment reported sales of $770.5 million compared with $674.1 million in the prior-year quarter. We predicted the segment’s sales to be $751 million. The upside was driven by productivity gains, pricing across long-term and transactional business, and improved mix. The segment sold 57,454 thousand pounds compared with 46,872 thousand pounds a year ago. The reported figure surpassed our estimate of 50,123 pounds. The segment posted an operating profit of $229.7 million, up 37.5% from $167 million in the year-ago quarter. Our estimate for the segment’s operating profit was $167 million.The Performance Engineered Products segment’s net sales increased 3.7% year over year to $108.5 million. The reported figure beat our estimate of $106 million. The segment sold 3,256 thousand pounds compared with 2,674 thousand pounds in the prior-year quarter. It was lower than our projection of 2,697 thousand pounds. It reported an operating profit of $7.1 million, down 39.3% from $11.7 million a year earlier, showing that higher volume did not translate into stronger segment profitability. Our estimate for the segment’s operating profit was $11.7 million. Carpenter Technology ended fiscal 2026 with cash and cash equivalents of $393 million compared with $315.5 million at the end of fiscal 2025. Long-term debt was $691 million at the end of fiscal 2026 compared with $695 million a year earlier. Cash flow from operating activities was $240 million in the quarter under review compared with $258 million in the prior-year quarter. The company reported adjusted earnings of $10.52 per share in fiscal 2026, missing the Zacks Consensus Estimate of $10.58. The company posted adjusted earnings of $7.42 in fiscal 2025.CRS revenues were $3.12 billion in fiscal 2026, down from $2.88 billion in the year-ago quarter. The top line came in line with the Zacks Consensus Estimate. For fiscal 2027, CRS expects operating income of $850-$880 million, indicating growth of 21-25% from that reported in fiscal 2026. The adjusted free cash flow is projected at $400-$430 million.For the first quarter of fiscal 2027, the company anticipates operating income of $195-$200 million. CRS also set a fiscal 2029 operating income target of $1.2-$1.3 billion, supported by demand, productivity, mix, pricing and expected contributions from its brownfield expansion. CRS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Shares of the company have surged 121.7% in the past year compared with the industry’s growth of 96.8%. Image Source: Zacks Investment Research Commercial Metals Company CMC reported adjusted earnings per share of $1.73 in third-quarter fiscal 2026 (ended May 31, 2026), beating the Zacks Consensus Estimate of $1.60 by 8.1%. The bottom line surged 147.1% from 70 cents in the year-ago quarter. Commercial Metals’ revenues in the reported quarter were $2.48 billion compared with $2.02 billion in the year-ago quarter. The reported figure beat the Zacks Consensus Estimate of $2.37 billion. Metallus Inc. MTUS delivered second-quarter 2026earnings of 26 cents per share, in line with the Zacks Consensus Estimate. Metallus posted earnings of 2 cents in the year-ago quarter.Metallus posted revenues of $341 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate of $331 million. The company posted $305 million in the second quarter of 2025.NWPX Infrastructure, Inc. NWPX came out with second quarter 2026 earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.33. The company posted earnings of 91 cents a year ago. NWPX Infrastructure posted revenues of $159.5 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate of $155 million. The top line increased from the year-ago quarter’s $133 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Commercial Metals Company (CMC) : Free Stock Analysis Report NWPX Infrastructure, Inc. (NWPX) : Free Stock Analysis Report Metallus Inc. (MTUS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Metallus Inc.? Here are five stocks we like better. Metallus delivered stronger Q2 results: Sales rose 12% year over year to $341 million, while adjusted EBITDA increased 9% to $29 million. Growth was driven by higher shipments, pricing, product mix and improved melt utilization, although energy and labor costs limited profitability gains. Demand and backlog strengthened, particularly in aerospace and defense: The order book increased more than 50% from a year earlier, aerospace and defense achieved record shipments and sales, and the company reaffirmed its target of at least a $250 million annualized aerospace-and-defense revenue run rate by the end of 2026. Metallus expects modest near-term improvement and has solid liquidity: Q3 adjusted EBITDA is projected to rise slightly, supported by better pricing and mix, while the company has $395 million of liquidity with no outstanding borrowings. Capital projects remain on track, including a newly commissioned bloom reheat furnace and a planned $70 million of 2026 capital spending. Metallus (NYSE:MTUS) reported higher second-quarter sales and profitability, citing improved shipments, pricing, product mix and melt utilization as demand strengthened across several end markets. The specialty metals producer said its order book increased more than 50% from a year earlier, with lead times for engineered SBQ bar and seamless mechanical tubing extending into late fourth-quarter 2026. Second-quarter net sales totaled $341 million, up $36.4 million, or 12%, from the prior-year period. Net income was $8.9 million, or $0.21 per diluted share, while adjusted net income was $11.1 million, or $0.26 per diluted share. Adjusted EBITDA rose 9% year over year to $29 million. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “Increased shipments, higher melt utilization, improved pricing and product mix, and solid operating performance drove the improvement,” Chief Executive Officer Mike Williams said during the company’s earnings call. Chief Financial Officer John Zaranec said improved prices, mix and shipment volumes supported profitability. However, those gains were partly offset by manufacturing performance, as melt utilization improved but did not reach the company’s plan to fully offset higher energy costs and the first full quarter of labor costs associated with its newly ratified union contract. → 3 Drone Stocks That Should Soar After the Summer Slump Metallus reported operating cash flow of $12.8 million during the quarter, driven by profitability and lower inventory. Higher accounts receivable associated with increased sales and lower accounts payable related to the timing of raw-material purchases partially offset those benefits. The company spent $15.2 million on capital expenditures in the quarter, including about $9.5 million for projects primarily funded by the U.S. government. Metallus continues to expect approximately $70 million in capital expenditures for full-year 2026, including about $35 million primarily funded by the government. → Why Rare Earth Processing Could Be the Real 2027 Opportunity Cash and cash equivalents stood at $108.6 million at quarter-end. Metallus received the final $11.3 million of U.S. Army funding during the quarter under a previously announced agreement totaling nearly $100 million intended to support increased munitions production. Williams said the company fully commissioned its bloom reheat furnace in early July. The furnace is intended to improve process consistency, downstream product flow and reliability. Commissioning of a roller furnace remains on track, according to the company. The two projects, supported in part by government funding, are expected to improve throughput, quality, efficiency and customer service levels once fully operational. Metallus plans to host a ribbon-cutting event during the third quarter with U.S. government representatives, defense customers and industry partners. Aerospace and defense posted record shipment tons and sales in the second quarter, supported by new defense initiatives and replenishment efforts for existing programs. Williams said increased demand for 155mm and other munitions, along with new programs beginning to generate demand, drove the quarterly increase. The company reaffirmed its expectation to reach at least a $250 million aerospace-and-defense revenue run rate by the end of 2026. Metallus also obtained AS9100D certification during the quarter, a quality-management standard for aerospace and defense. Williams said the certification broadens the range of customers and applications the company can serve and is expected to expand its opportunities in the market. Automotive shipments rose 12% sequentially and 8% year over year in the second quarter. Metallus said demand in targeted light-truck and SUV applications remained steady. The company also secured a multiyear award for ring gears on a leading automaker’s hybrid-transmission platform, with production expected to begin in 2028. Industrial shipments declined slightly both sequentially and year over year because of customer requirements and shipment timing. Still, Metallus said industrial backlog nearly doubled from the prior year. Williams identified construction and mining equipment, or “yellow goods,” as the principal source of industrial demand growth, with additional improvement in agricultural and rail markets. Energy demand remained stable amid cautious capital spending, though the company said reduced import competition and improving domestic production were supporting demand for its seamless tubing products. Williams said modestly higher U.S. drilling activity and the trade-tariff environment have encouraged domestic and global energy companies to seek more domestic supply. For the third quarter, Metallus expects shipments to be similar to the second quarter, while price and mix should be slightly better. The company expects a modest sequential increase in average melt utilization, though manufacturing costs are projected to remain relatively flat as improved utilization is offset by planned maintenance outages. Metallus recently announced price increases effective in early August for customers not covered by annual pricing agreements: $60 per ton for bar, $100 per ton for carbon seamless mechanical tubing and $160 per ton for alloy seamless mechanical tubing. The company expects to realize the full run-rate benefit beginning in 2027. The company expects third-quarter adjusted EBITDA to be slightly higher both sequentially and year over year. It also projected a full-year adjusted effective income tax rate of 27% to 30%. On June 30, Metallus refinanced its asset-based revolving credit facility and extended its maturity to June 2031. The facility now has $300 million of committed capacity and an optional expansion feature of up to $200 million. Total liquidity was $395 million at quarter-end, and the company had no outstanding borrowings. Metallus made $5.4 million in required pension contributions related to its U.S. bargaining plan during the quarter and expects no additional pension contributions for the remainder of 2026. The company said its 2026 pension contributions represent a reduction of more than 60% from 2025. During the quarter, Metallus repurchased approximately 190,000 common shares for $3.6 million. As of the end of June, $81.8 million remained under its existing share repurchase authorization. Metallus, Inc (NYSE:MTUS) is an industrial metals recycling and distribution company that acquires, processes and markets a wide array of ferrous and non-ferrous materials. Its product portfolio includes stainless steel, nickel alloys, aluminum and other specialty metals sourced from manufacturing scrap, obsolete products and post-consumer waste streams. Metallus provides services such as shredding, sorting, melting and baling, enabling its customers to optimize metal recovery and streamline supply chains. Headquartered in Philadelphia, Pennsylvania, the company operates processing facilities and distribution centers across the United States, facilitating efficient logistics and regional collection of metal grades. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Metallus Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Profitability improvement was driven by higher melt utilization, improved product mix, and strategic pricing actions despite rising energy and labor costs. The order book increased over 50% year-over-year, providing significant visibility into the second half of 2026 across all core end markets. Aerospace and Defense (A&D) achieved record shipment tons and sales, fueled by 155-millimeter munitions demand and new program replenishment efforts. Industrial backlog nearly doubled compared to the prior year, primarily supported by strong demand in the 'yellow goods' construction and mining equipment sectors. Automotive performance remained steady due to strategic positioning on light truck and SUV platforms, which are outperforming passenger car segments. Operational performance in Q2 fell slightly short of internal plans due to power interruptions and maintenance reliability issues, though trends remain positive. The company achieved AS9100D certification, validating its quality management systems and expanding its competitive reach into high-value mission-critical applications. Management expects to achieve a $250 million annualized revenue run rate in the Aerospace and Defense sector by the end of 2026. The newly commissioned bloom reheat furnace and upcoming roller furnace are expected to enhance throughput, quality, and reliability for critical defense programs. Third quarter 2026 adjusted EBITDA is projected to be slightly higher sequentially, continuing a trend of quarterly profitability growth throughout the year. Price increases announced for August 2026 are expected to reach their full run rate benefit in 2027 as they apply to the non-contracted portion of the order book. Melt utilization is anticipated to increase slightly in Q3, though manufacturing costs will remain flat due to planned maintenance outages in the tube mills. The company received the final $11.3 million of a nearly $100 million U.S. Army funding agreement to support munitions production infrastructure. Pension contributions for 2026 are expected to be over 60% lower than 2025 levels, with no further contributions required for the remainder of the year. Metallus refinanced its asset-based revolving credit facility, extending the maturity to 2031 and increasing total liquidity to $395 million. Shareholder returns continued with the repurchase of 190,000 shares in Q2, contributing to a 26% reduction in diluted shares outstanding since early 2022. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the full benefit of the August price hikes will be realized in 2027, specifically affecting the 30% of the order book not under annual contracts. While 2027 negotiations are in preliminary stages, current high utilization and demand levels provide a positive base for upcoming contract discussions. Growth is being driven by a combination of increased 155-millimeter munitions demand and the materialization of awards from new defense programs. Management expressed confidence in hitting the $250 million run rate by year-end as new entrants in the defense sector ramp up manufacturing capacity. Q2 utilization of 74% was lower than planned due to power interruptions on an interruptible supply agreement and shop floor execution challenges. Strategic investments in new furnaces are specifically designed to address these reliability issues and drive future cost improvements. The certification is viewed as a marketable capability that broadens the pool of potential customers and applications Metallus can serve in the A&D space. It validates the discipline of the company's quality management system for highly restrictive mission-critical requirements.

This article first appeared on GuruFocus. Net Sales: $341 million in Q2 2026, a 12% increase year-over-year. Net Income: $8.9 million, or $0.21 per diluted share. Adjusted Net Income: $11.1 million, or $0.26 per diluted share. Adjusted EBITDA: $29 million, a 9% increase year-over-year. Operating Cash Flow: $12.8 million in Q2 2026. Capital Expenditures: $15.2 million in Q2 2026, including $9.5 million for U.S. government-funded projects. Cash and Cash Equivalents: $108.6 million at the end of Q2 2026. Share Repurchases: Approximately 190,000 shares repurchased at a cost of $3.6 million in Q2 2026. Auto Shipments: Grew 12% sequentially and 8% year-over-year in Q2 2026. Aerospace and Defense: Record ship tons and sales for these products in Q2 2026. Warning! GuruFocus has detected 6 Warning Signs with IRT. Is MTUS fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Adjusted EBITDA improved to $29 million in Q2 2026, up 9% year-over-year, driven by higher shipments, improved pricing, and better product mix. Order book increased over 50% year-over-year, providing strong visibility into second-half demand, with lead times extended into late Q4 2026. Aerospace and defense segment achieved record ship tons and sales, supported by AS9100D certification and progress toward the $250 million revenue run rate target. Secured a new multi-year award for ring gears on a leading automaker's hybrid transmission platform, with production starting in 2028, strengthening automotive growth. Completed commissioning of the Bloom Reheat Furnace and received final $11.3 million from the U.S. Army, enhancing operational capabilities and supporting defense initiatives. Refinanced the asset-based revolving credit facility, extending maturity to 2031, increasing capacity to $300 million, and improving financial terms, with total liquidity at $395 million. Announced price increases effective August 2026 for spot customers, expected to fully benefit from 2027, improving pricing power. Manufacturing performance fell short of plan, with melt utilization at 74% in Q2, below expectations due to shop floor execution and maintenance reliability issues. Higher energy costs and the first full quarter of labor costs from the newly ratified union contract partially offset profitability gains. Industrial shipments declined slightly sequentially and year-over-year due to order and shipment timing, despite strong backlog growth. Third-quarter results will be impacted by increased planned maintenance outages, limiting sequential EBITDA growth despite higher melt utilization. Energy market demand remains stable but cautious due to geopolitical and commodity price uncertainty, moderating activity levels. Pension contributions, while reduced, still required $5.4 million in Q2, and the adjusted effective tax rate is expected to be high at 27-30% for 2026. Aerospace and defense revenue visibility is limited, with annual contract discussions not yet complete, creating uncertainty for 2027. Q: Can you provide more details on the drivers behind the sequential revenue increase in Aerospace & Defense (A&D) sales, and should we expect to hit the $250 million annualized run rate in the third quarter? A: Mike Williams (CEO) explained that the step-up in A&D sales is driven by a combination of increased demand for 155mm munitions and other munitions, along with new program awards starting to materialize. He confirmed that the company expects to achieve the $250 million run rate by the end of this year, with continued improvement expected as new programs ramp up their manufacturing capacity. Q: Can you clarify the scope of the recently announced price increases, specifically regarding the spot price portion of the order book, and how are customer negotiations progressing? A: Mike Williams (CEO) confirmed the price increases apply to the spot price portion of the order book not covered by annual agreements. He noted that negotiations for 2027 contracts haven't really started yet, but the improved demand environment this year naturally drives higher pricing acceptance and establishes a positive starting point for 2027 negotiations. He declined to predict 2028 pricing. Q: Why did second quarter melt utilization of 74% improve less than expected, and what is the outlook for the third quarter? A: Mike Williams (CEO) attributed the shortfall to power interruptions on the interruptible supply agreement and, more significantly, to shop floor execution and maintenance reliability not meeting plan. He identified this as the biggest single opportunity for cost improvement, noting that new strategic investments will help address it. The company expects utilization to improve in Q3, though Q4 will include a large maintenance outage. Q: Can you provide more insights into which subcategories or industries are driving the near-doubling of the industrial backlog? A: Mike Williams (CEO) stated that the number one driver is the industrial base serving the yellow goods market, specifically construction and mining equipment. This is combined with improvements in agriculture and rail sectors, but the majority of the growth is coming from the yellow goods sector. Q: Can you provide more insights into the cadence of revenue generation from the A&D sector as we approach 2027? A: Mike Williams (CEO) noted that as a primary materials supplier, the company doesn't control downstream factors. They are seeing higher utilization in the munitions sector and new entrants coming in. A clearer picture will emerge early next year during annual contract discussions, as very few customers are on spot arrangements. The company is working on new program awards for 2027 and beyond, expecting munitions demand to continue increasing. Q: Can you discuss the planned maintenance downtime expected in the third quarter and its potential impact on results? A: Chris Westbrooks (President and COO) explained that the Q3 work is well-planned and was scheduled a year ago, focusing on the tube mills and thermal treat assets. Mike Williams (CEO) added that non-bottlenecked downstream asset maintenance typically costs a couple million dollars in the quarter, and these are planned costs that have been factored into the Q3 guidance. Q: Are there any changes in your thoughts about the second half versus the first half for the automotive business, and what are your thoughts on the energy side? A: Mike Williams (CEO) stated that automotive demand remains healthy for the SUV and truck platforms the company serves, with expectations of flat demand based on forecasted build rates. For energy, he noted improvement in demand and opportunities, influenced by slightly increased drilling activity in the U.S. and the trade tariff environment, which is driving domestic energy companies to secure more domestic supply. Q: With the new AS9100D certification, is that going to drive new awards in aerospace and defense, or is it more just table stakes? A: Mike Williams (CEO) explained that the certification validates the discipline of the quality management system and shop floor execution to comply with restrictive quality requirements. It is a marketable capability that broadens the number of customers and applications the company can serve, and they expect it to broaden opportunities in the A&D space to continue growing this attractive end market. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Metallus (MTUS) came out with quarterly earnings of $0.26 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.2 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this maker of steel large bars and seamless mechanical tubing would post earnings of $0.13 per share when it actually produced earnings of $0.18, delivering a surprise of +38.46%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Metallus, which belongs to the Zacks Steel - Speciality industry, posted revenues of $341 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.01%. This compares to year-ago revenues of $304.6 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Metallus shares have added about 17.3% since the beginning of the year versus the S&P 500's gain of 9.4%. While Metallus has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Metallus was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.30 on $336.15 million in revenues for the coming quarter and $0.84 on $1.27 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Steel - Speciality is currently in the top 4% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Mativ Holdings (MATV), another stock in the broader Zacks Basic Materials sector, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This paper and reconstituted tobacco company is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of -15.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Mativ Holdings' revenues are expected to be $508.5 million, down 3.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Metallus Inc. (MTUS) : Free Stock Analysis Report Mativ Holdings, Inc. (MATV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Net sales of $341.0 million, up 11% sequentially and 12% year over year, while net income increased to $8.9 million from $5.4 million in the first quarter and $3.7 million in the prior-year quarter Adjusted EBITDA of $29.0 million, an increase of 18% sequentially and 9% year over year Invested $15.2 million in strategic capital expenditures and $3.6 million to repurchase common shares Growth in order book reinforces strong demand visibility for the second half of 2026 Bloom reheat furnace commissioned; roller furnace remains on schedule Refinanced Credit Agreement to 2031 while providing adequate liquidity and flexibility Cash and cash equivalents of $108.6 million with total liquidity (1)of $394.8 million as of June 30, 2026 CANTON, Ohio, Aug. 3, 2026 /PRNewswire/ -- Metallus (NYSE: MTUS), a leader in high-quality specialty metals, manufactured components and supply chain solutions, today reported second-quarter 2026 net sales of $341.0 million and net income of $8.9 million, or $0.21 per diluted share. On an adjusted basis(2), the second-quarter 2026 net income was $11.1 million, or $0.26 per diluted share, and adjusted EBITDA was $29.0 million. This compares with the sequential first-quarter 2026 net sales of $308.3 million and net income of $5.4 million, or $0.13 per diluted share. On an adjusted basis(2), the first-quarter 2026 net income was $7.7 million, or $0.18 per diluted share, and adjusted EBITDA was $24.6 million. In the same quarter last year, the company had net sales of $304.6 million and net income of $3.7 million, or $0.09 per diluted share. On an adjusted basis(2), the second-quarter 2025 net income was $8.2 million, or $0.19 per diluted share, and adjusted EBITDA was $26.5 million. "We delivered a strong second quarter, highlighted by increased shipments, improved pricing and product mix and higher profitability both sequentially and compared with the prior year. Demand remains healthy across our key end markets, supported by a robust order book that provides strong visibility for the second half of 2026. We successfully completed the commissioning of our new bloom reheat furnace and the roller furnace remains on schedule. These investments represent important milestones in our commitment to growing our presence in the aerospace & defense market while continuing to support our long-standing automotive, industrial, energy and distribution customers. The recent investments enhance our manufacturing capabilities, improve operational efficiency, and strengthen our ability to meet increasing customer demand," said Mike Williams, chief executive officer. "As we enter the second half of 2026, we have a healthy order book, favorable product mix, continued pricing momentum and a daily focus on operational execution. As a result, we expect that profitability will continue to improve compared to the same periods last year and cash flow generation will be positive." SECOND-QUARTER 2026 FINANCIAL SUMMARY Net sales increased 11 percent to $341.0 million, compared with $308.3 million in the first quarter of 2026. Compared with the prior-year second quarter, net sales increased 12 percent. The increases in both comparable periods were driven primarily by higher shipments across the majority of end-markets, increased raw material surcharge revenue per ton, higher average base sales(2) prices and improved product mix. Ship tons increased 10,400 tons sequentially, or 6 percent, to 174,200 tons driven primarily by higher shipments across the majority of end-markets. Compared with the prior-year second quarter, shipments increased 4 percent, driven by higher shipments in automotive and aerospace & defense end-markets. Melt utilization improved to 74 percent in the second quarter, up from 72 percent in the first quarter and 71 percent in the same quarter last year. Manufacturing cost performance declined sequentially, due to lower than expected fixed-cost absorption, as melt utilization improved but fell short of plan, along with higher maintenance costs to address downstream asset reliability. CASH, LIQUIDITY AND REPURCHASE ACTIVITY As of June 30, 2026, the company's cash and cash equivalents balance was $108.6 million. In the second quarter, operating cash flow totaled $12.8 million, driven by profitability and lower inventory, partially offset by lower accounts payable due to the timing of raw material purchases and required pension contributions. Capital expenditures totaled $15.2 million in the second quarter, including $9.5 million for projects primarily funded by the U.S. government. Total liquidity(1) was $394.8 million as of June 30, 2026. On June 30, 2026, the company refinanced its asset-based revolving credit facility ("Credit Facility") and extended the maturity date to June 2031. Following the amendment, Credit Facility available capacity was $300.0 million with improvement in a variety of financial terms and covenants, including reduced annual fees. The Credit Facility remains undrawn at this time. Additionally, during the second quarter, the company repurchased 0.2 million common shares at an aggregate cost of $3.6 million. As of June 30, 2026, the company had $81.8 million remaining under its authorized share repurchase program. During the second quarter, the company received the final $11.3 million from the U.S. Army as part of the previously announced $99.75 million capacity expansion funding agreement in support of the U.S. Army's mission of ramping up munitions production. Through the end of June, the company had received $102.8 million of government funding, consisting of $99.75 million from the U.S. Army and $3.0 million from JobsOhio as part of the previously announced grant. OUTLOOK Given the elements outlined in the outlook below, the company expects third-quarter adjusted EBITDA to be slightly higher than the second quarter of 2026 and the third quarter of 2025. Commercial: Third-quarter shipments are expected to be similar to second-quarter shipments based on the customer mix and lead time expectations. Lead times for bar and tube products currently extend into late fourth quarter. Based on lead times and product mix, third quarter price and mix are expected to be slightly better than the second quarter. The company recently announced price increases effective early August for customers not covered by annual pricing agreements of $60 per ton on bar, $100 per ton on carbon seamless mechanical tubing, and $160 per ton on alloy seamless mechanical tubing products. Based on lead times, the company expects to realize the full run rate benefit of these price increases beginning in 2027. Operations: The company anticipates a slight increase in its third quarter average melt utilization rate, supported by strength in the order book. Manufacturing costs are expected to be relatively flat sequentially as a result of slightly higher melt utilization offset by increased planned maintenance outages. Other matters: Planned capital expenditures remain at approximately $70 million in 2026, inclusive of $35 million of capital expenditures partially funded by the U.S. government. The company does not expect to make any additional pension contributions during the remainder of 2026. An adjusted effective income tax rate(3) between 27 and 30 percent is expected for the full year 2026. METALLUS EARNINGS WEBCAST INFORMATIONMetallus will provide live Internet listening access to its conference call with the financial community scheduled for Tuesday, August 4, 2026, at 9:00 a.m. ET. The live conference call will be broadcast at investors.metallus.com. A replay of the conference call will also be available at investors.metallus.com. ABOUT METALLUS INC.Metallus (NYSE: MTUS) manufactures high-performance specialty metals from recycled scrap metal in Canton, OH, serving demanding applications in industrial, automotive, aerospace & defense and energy end-markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, Metallus' proven expertise contributes to the performance of our customers' products. The company employs approximately 1,905 people and had sales of $1.2 billion in 2025. For more information, please visit us at www.metallus.com. NON-GAAP FINANCIAL MEASURESMetallus reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP") and corresponding metrics as non-GAAP financial measures. This earnings release includes references to the following non-GAAP financial measures: adjusted earnings (loss) per share, adjusted net income (loss), EBITDA, adjusted EBITDA, free cash flow, base sales, and other adjusted items. These are important financial measures used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Management believes that reporting these non-GAAP financial measures is useful to investors as these measures are representative of the company's performance and provide improved comparability of results. See the attached schedules for definitions of the non-GAAP financial measures referred to above and corresponding reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measures. Non-GAAP financial measures should be viewed as additions to, and not as alternatives for, Metallus' results prepared in accordance with GAAP. In addition, the non-GAAP measures Metallus uses may differ from non-GAAP measures used by other companies, and other companies may not define the non-GAAP measures Metallus uses in the same way. FORWARD-LOOKING STATEMENTSThis news release includes "forward-looking" statements within the meaning of the federal securities laws. You can generally identify the company's forward-looking statements by words such as "will," "anticipate," "aspire," "believe," "could," "estimate," "expect," "forecast," "outlook," "intend," "may," "plan," "possible," "potential," "predict," "project," "seek," "target," "should," "would," "strategy," or "strategic direction" or other similar words, phrases or expressions that convey the uncertainty of future events or outcomes. The company cautions readers that actual results may differ materially from those expressed or implied in forward-looking statements made by or on behalf of the company due to a variety of factors, such as: (1) the effects of fluctuations in customer demand on sales, product mix and prices in the industries in which the company operates, including the ability of the company to respond to rapid changes in customer demand including but not limited to changes in domestic and worldwide political and economic conditions due to, among other factors, U.S. and foreign trade policies and the impact on economic conditions, changes in customer operating schedules due to supply chain constraints or unplanned work stoppages, the ability of customers to obtain financing to purchase the company's products or equipment that contains its products, the effects of customer bankruptcies or liquidations, the impact of changes in industrial business cycles, and whether conditions of fair trade exist in U.S. markets; (2) changes in operating costs, including the effect of changes in the company's manufacturing processes, changes in costs associated with varying levels of operations and manufacturing capacity, availability of raw materials and energy, the company's ability to mitigate the impact of fluctuations in raw materials and energy costs and the effectiveness of its surcharge mechanism, changes in the expected costs associated with product warranty claims, changes resulting from inventory management, cost reduction initiatives and different levels of customer demands, the effects of unplanned work stoppages, availability of skilled labor and changes in the cost of labor and benefits; (3) the success of the company's operating plans, announced programs, initiatives and capital investments, the consistency to meet demand levels following unplanned downtime, and the company's ability to maintain appropriate relations with the union that represents its associates in certain locations in order to avoid disruptions of business; (4) whether the company is able to successfully implement actions designed to improve profitability on anticipated terms and timetables and whether the company is able to fully realize the expected benefits of such actions; (5) the company's pension obligations and investment performance; (6) with respect to the company's ability to achieve its sustainability goals, including its 2030 environmental goals, the ability to meet such goals within the expected timeframe, changes in laws, regulations, prevailing standards or public policy, the alignment of the scientific community on measurement and reporting approaches, the complexity of commodity supply chains and the evolution of and adoption of new technology, including traceability practices, tools and processes; (7) availability of property insurance coverage at commercially reasonable rates or insufficient insurance coverage to cover claims or damages; (8) the availability of financing and interest rates, which affect the company's cost of funds and/or ability to raise capital; (9) the impacts from any repurchases of our common shares, including the timing and amount of any repurchases; (10) competitive factors, including changes in market penetration, increasing price competition by existing or new foreign and domestic competitors, the introduction of new products by existing and new competitors, and new technology that may impact the way the company's products are sold or distributed; (11) deterioration in global economic conditions, or in economic conditions in any of the geographic regions in which the company conducts business, including additional adverse effects from global economic slowdown, terrorism or hostilities, including political risks associated with the potential instability of governments and legal systems in countries in which the company or its customers conduct business, and changes in currency valuations; (12) the impact of global conflicts on the economy, sourcing of raw materials, and commodity prices; (13) climate-related risks, including environmental and severe weather caused by climate changes, and legislative and regulatory initiatives addressing global climate change or other environmental concerns; (14) unanticipated litigation, claims or assessments, including claims or problems related to intellectual property, product liability or warranty, employment matters, regulatory compliance and environmental issues and taxes, among other matters; (15) cyber-related risks, including information technology system failures, interruptions and security breaches; (16) the potential impact of pandemics, epidemics, widespread illness or other health issues; and (17) with respect to the equipment investments to support the U.S. Army's mission of ramping up munitions production in the coming years, and whether the anticipated increase in throughput is achieved. Further, this news release represents our current policy and intent and is not intended to create legal rights or obligations. Certain standards of measurement and performance contained in this news release are developing and based on assumptions, and no assurance can be given that any plan, objective, initiative, projection, goal, mission, commitment, expectation or prospect set forth in this news release can or will be achieved. Inclusion of information in this news release is not an indication that the subject or information is material to our business or operating results. Additional risks relating to the company's business, the industries in which the company operates, or the company's common shares may be described from time to time in the company's filings with the SEC. All of these risk factors are difficult to predict, are subject to material uncertainties that may affect actual results and may be beyond the company's control. Readers are cautioned that it is not possible to predict or identify all of the risks, uncertainties and other factors that may affect future results and that the above list should not be considered to be a complete list. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 34.8(14.1)(4.1)Investing ActivitiesCapital expenditures(15.2)(17.8)(39.9)(45.3)Proceeds from government funding11.35.117.218.0Proceeds from disposals of property, plant and equipment———1.7Net Cash Provided (Used) by Investing Activities(3.9)(12.7)(22.7)(25.6)Financing ActivitiesPurchase of treasury shares(3.6)(3.3)(7.9)(8.9)Proceeds from exercise of stock options——0.3—Shares surrendered for employee taxes on stock compensation——(3.0)(2.6)Debt issuance costs(1.3)—(1.3)—Repayments on convertible notes—(9.1)—(9.1)Other financing activities(0.2)—(0.2)—Net Cash Provided (Used) by Financing Activities(5.1)(12.4)(12.1)(20.6)Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash3.89.7(48.9)(50.3)Cash, cash equivalents, and restricted cash at beginning of period104.8181.9157.5241.9Cash, Cash Equivalents, and Restricted Cash at End of Period$108.6$191.6$108.6$191.6The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:Cash and cash equivalents$108.6$190.8$108.6$190.8Restricted cash reported in other current assets—0.8—0.8Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows$108.6$191.6$108.6$191.6 Reconciliation of Free Cash Flow to GAAP Net Cash Provided (Used) by Operating Activities: This reconciliation is provided as additional relevant information about the company's financial position. Free cash flow is an important financial measure used in the management of the business. Management believes that free cash flow is useful to investors because it is a meaningful indicator of cash generated from operating activities available for the execution of its business strategy. Reconciliation of Capital expenditures less government-funded capital expenditures to GAAP Capital expenditures: This reconciliation is provided as additional relevant information about the company's capital expenditures. Capital expenditures less government-funded capital expenditures is an important financial measure used in the management of the business. Management believes that capital expenditures less government-funded capital expenditures is useful to investors because it is a meaningful indicator of capital expenditures associated with the ordinary course of the company's business. Reconciliation of adjusted net income (loss)(2) to GAAP net income (loss) and adjusted diluted earnings (loss) per share(2) to GAAP diluted earnings (loss) per share for the three months ended June 30, 2026, June 30, 2025, and March 31, 2026: Adjusted net income (loss) and adjusted diluted earnings (loss) per share are financial measures not required by or presented in accordance with GAAP. These Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, the financial measures prepared in accordance with GAAP, and a reconciliation of these financial measures to the most comparable GAAP financial measures is presented. Management believes this data provides investors with additional useful information on the underlying operations and trends of the business and enables period-to-period comparability of the company's financial performance. Reconciliation of adjusted net income (loss)(2) to GAAP net income (loss) and adjusted diluted earnings (loss) per share(2) to GAAP diluted earnings (loss) per share for the six months ended June 30, 2026 and June 30, 2025: Adjusted net income (loss) and adjusted diluted earnings (loss) per share are financial measures not required by, or presented in accordance with GAAP. These Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, the financial measures prepared in accordance with GAAP, and a reconciliation of these financial measures to the most comparable GAAP financial measures is presented. Management believes this data provides investors with additional useful information on the underlying operations and trends of the business and enables period-to-period comparability of the company's financial performance. Reconciliation of adjusted effective tax rate to GAAP effective tax rate for the three months ended June 30, 2026, June 30, 2025, and March 31, 2026: This reconciliation is provided as additional relevant information between the company's GAAP effective tax rate and the adjusted effective tax rate. These Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, the financial measures prepared in accordance with GAAP, and a reconciliation of these financial measures to the most comparable GAAP financial measures is presented. Management believes this data provides investors with additional useful information on the underlying operations and trends of the business and enables period-to-period comparability of the company's financial performance. Reconciliation of adjusted effective tax rate to GAAP effective tax rate for the six months ended June 30, 2026 and June 30, 2025: This reconciliation is provided as additional relevant information between the company's GAAP effective tax rate and the adjusted effective tax rate. These Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, the financial measures prepared in accordance with GAAP, and a reconciliation of these financial measures to the most comparable GAAP financial measures is presented. Management believes this data provides investors with additional useful information on the underlying operations and trends of the business and enables period-to-period comparability of the company's financial performance. Reconciliation of Earnings (Loss) Before Interest, Taxes, Depreciation and Amortization (EBITDA)(3) and Adjusted EBITDA(10) to GAAP Net Income (Loss): This reconciliation is provided as additional relevant information about the company's performance. EBITDA and Adjusted EBITDA are important financial measures used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Management believes that reporting EBITDA and Adjusted EBITDA is useful to investors as these measures are representative of the company's performance. Management also believes that it is appropriate to compare GAAP net income (loss) to EBITDA and Adjusted EBITDA. Reconciliation of Base Sales by end-market to GAAP Net Sales by end-market: The tables below present net sales by end-market, adjusted to exclude surcharges, which represents a financial measure that has not been determined in accordance with GAAP. Management believes presenting net sales by end-market, both on a gross basis and on a per ton basis, adjusted to exclude raw material and energy surcharges, provides additional insight into key drivers of net sales such as base price and product mix. Due to the fact that the surcharge mechanism can introduce volatility to our net sales, net sales adjusted to exclude surcharges provides management and investors clarity of our core pricing and results. Presenting net sales by end-market, adjusted to exclude surcharges including on a per ton basis, allows management and investors to better analyze key market indicators and trends and allows for enhanced comparison between our end-markets. When surcharges are included in a customer agreement and are applicable (i.e., reach the threshold amount), based on the terms outlined in the respective agreement, surcharges are then included as separate line items on a customer's invoice. These additional surcharge line items adjust base prices to match cost fluctuations due to market conditions. Each month, the company will post on the surcharges page of its external website, as well as our customer portal, the scrap, alloy, and energy surcharges that will be applied (as a separate line item) to invoices dated in the following month (based upon shipment volumes in the following month). All surcharges invoiced are included in GAAP net sales. Calculation of Total Liquidity(1): This calculation is provided as additional relevant information about the company's financial position. View original content to download multimedia:https://www.prnewswire.com/news-releases/metallus-announces-second-quarter-2026-results-302841486.html

Carpenter Technology (CRS) came out with quarterly earnings of $3.23 per share, beating the Zacks Consensus Estimate of $3.03 per share. This compares to earnings of $2.21 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +6.60%. A quarter ago, it was expected that this maker of stainless steels and special alloys would post earnings of $2.59 per share when it actually produced earnings of $2.77, delivering a surprise of +6.95%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Carpenter, which belongs to the Zacks Steel - Speciality industry, posted revenues of $851 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.38%. This compares to year-ago revenues of $755.6 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Carpenter shares have added about 68.5% since the beginning of the year versus the S&P 500's gain of 6.9%. While Carpenter has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Carpenter was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.93 on $809.77 million in revenues for the coming quarter and $12.81 on $3.38 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Steel - Speciality is currently in the top 2% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Metallus (MTUS), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 3. This maker of steel large bars and seamless mechanical tubing is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of +30%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Metallus' revenues are expected to be $331.05 million, up 8.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Metallus Inc. (MTUS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

NWPX Infrastructure (NWPX) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $0.91 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +21.81%. A quarter ago, it was expected that this steel pipe maker would post earnings of $0.68 per share when it actually produced earnings of $1.08, delivering a surprise of +58.82%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. NWPX Infrastructure, which belongs to the Zacks Steel - Speciality industry, posted revenues of $159.48 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.19%. This compares to year-ago revenues of $133.18 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. NWPX Infrastructure shares have added about 102% since the beginning of the year versus the S&P 500's gain of 8.5%. While NWPX Infrastructure has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for NWPX Infrastructure was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.50 on $167.6 million in revenues for the coming quarter and $4.97 on $597.68 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Steel - Speciality is currently in the top 2% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Metallus (MTUS), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 3. This maker of steel large bars and seamless mechanical tubing is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of +30%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Metallus' revenues are expected to be $331.05 million, up 8.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NWPX Infrastructure, Inc. (NWPX) : Free Stock Analysis Report Metallus Inc. (MTUS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research