Metallus Inc. reported a net sales increase of 6.9% for the fiscal year ending December 31, 2025, reaching $1,158.3 million compared to $1,084.0 million in 2024. This growth was primarily driven by higher shipment volumes, which contributed an additional $110.7 million to net sales, alongside a $24.2 million increase in surcharges. However, these gains were partially offset by a $60.7 million decline in base prices across all end-market sectors. The company's gross profit slightly decreased by 2.7% to $95.1 million, attributed to unfavorable price/mix dynamics despite higher shipment volumes and favorable raw material spreads.
In terms of operational developments, Metallus experienced a significant uptick in shipments to the aerospace and defense sector, which rose by approximately 19% year-over-year, now accounting for 14% of total net sales. The company also made substantial capital investments totaling $109 million, focusing on safety improvements, equipment automation, and efficiency enhancements, with a portion funded by a $99.75 million agreement with the U.S. Army to support munitions production. Additionally, Metallus repurchased approximately 0.9 million common shares at a cost of $13.1 million, reflecting its commitment to returning capital to shareholders.
Metallus's workforce comprised approximately 1,865 employees as of December 31, 2025, with 61.9% covered under a collective bargaining agreement. A new four-year contract was ratified by the United Steelworkers Local 1123 on February 5, 2026, which includes annual wage increases and enhanced benefits. The company also implemented an exit incentive program for retirement-eligible employees, resulting in a $2.7 million restructuring reserve.
The company’s liquidity position remained strong, with total liquidity of $389.2 million, including cash and cash equivalents of $156.7 million. Metallus has no outstanding debt as of December 31, 2025, following the settlement of its Convertible Senior Notes. Looking ahead, the company anticipates capital expenditures of approximately $70 million in 2026, supported by ongoing government funding and a focus on sustainable growth strategies. The management remains optimistic about future performance, driven by strong demand in key end markets and strategic investments in operational capabilities.
About Metallus Inc.
Metallus Inc. manufactures alloy, carbon, and micro-alloy steel products using electric arc furnace technology. Its offerings include high-performance SBQ bars, seamless tubes, billets, and precision components for demanding industrial, automotive, aerospace, defense, and energy markets. The company emphasizes technical expertise, customer collaboration, and sustainability, serving a diverse global customer base with tailored solutions and a focus on quality, innovation, and environmental responsibility.
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