Metallus Q3 sales beat estimates on higher shipments in aerospace and defense markets

Reuters11-07
Metallus Q3 sales beat estimates on higher shipments in aerospace and defense markets

Overview

  • Metallus Q3 net sales of $305.9 mln beat analyst expectations

  • Adjusted EBITDA improved sequentially for the fourth consecutive quarter

  • Company invested $28.4 mln in capital expenditures, repurchased $3.0 mln in shares

Outlook

  • Company expects Q4 adjusted EBITDA to be lower due to seasonality and supply chain issues

  • Fourth-quarter shipments expected to be lower due to year-end seasonality

  • Base price per ton to increase slightly due to announced price hikes

Result Drivers

  • AEROSPACE AND DEFENSE SHIPMENTS - Higher shipments in aerospace and defense markets drove sales growth

  • OPERATIONAL PERFORMANCE - Improved operational performance and favorable product mix contributed to results, per CEO Mike Williams

  • MANUFACTURING COSTS - Manufacturing costs benefited from increased fixed cost leverage on higher production volume

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Beat

$305.90 mln

$301.53 mln (3 Analysts)

Q3 EPS

$0.19

Q3 Net Income

$8.10 mln

Q3 Pretax Profit

$10.90 mln

Press Release: ID:nPn46plfpa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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