Metallus Inc. reported its financial results for the second quarter and first half of 2025, revealing a net sales figure of $304.6 million for the three months ending June 30, 2025, which represents a 3.4% increase from $294.7 million in the same period of 2024. However, for the six months ended June 30, 2025, net sales decreased by 5.1% to $585.1 million compared to $616.3 million in the prior year. The company attributed the quarterly increase to higher shipment volumes and favorable surcharges, while the decline in the first half was primarily due to unfavorable price/mix and lower surcharges.
Gross profit for the second quarter increased significantly by 33.6% to $32.2 million, up from $24.1 million in the previous year, driven by improved manufacturing performance and higher shipment volumes. In contrast, gross profit for the first half of 2025 fell by 27.6% to $54.1 million, down from $74.7 million in 2024, largely due to unfavorable price/mix across key end-market sectors. Selling, general, and administrative expenses also rose, increasing by 10.6% in the second quarter and 5.4% in the first half, reflecting higher variable compensation and benefits.
Operationally, Metallus has made significant strides, including the receipt of $18.0 million in government funding as part of a $99.75 million agreement with the U.S. Army to enhance munitions production capabilities. The company has invested $45.3 million in capital expenditures during the first half of 2025, with a substantial portion directed towards projects funded by the government. As of June 30, 2025, Metallus reported total liquidity of $437.0 million, including cash and cash equivalents of $190.8 million, indicating a strong financial position.
The company also settled its remaining $5.5 million in convertible notes during the second quarter, incurring a loss of $3.6 million on extinguishment of debt. This action has left Metallus with no outstanding borrowings as of the end of the reporting period. Looking ahead, the company anticipates continued capital investments and is closely monitoring trade developments that may impact demand for its products, particularly in light of recent tariff changes that could benefit domestic steel producers.
In summary, while Metallus Inc. experienced a mixed financial performance in the first half of 2025, strategic investments and government funding initiatives position the company for potential growth. The management remains optimistic about future operations, emphasizing the importance of maintaining liquidity and adapting to market conditions.
About Metallus Inc.
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