NYSE$MTUS
Metallus Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a net sales increase driven by higher shipments and base sales prices, with net income of $28.9 million.
TimkenSteel reported second-quarter 2023 net sales of $356.6 million and net income of $28.9 million, or $0.62 per diluted share. The company's performance was driven by increased shipments and base sales prices, as well as a rise in average raw material surcharge revenue per ton.
- Net sales increased by 10% compared to the first quarter of 2023, reaching $356.6 million.
- Net income was $28.9 million, with an adjusted EBITDA of $50.5 million.
- Operating cash flow was $13.3 million, with cash and cash equivalents totaling $221.9 million at the end of the quarter.
- The company deployed $11.4 million to repurchase common shares and $8.1 million for capital expenditures.
Headline financials
Revenue & EPS history
Metallus · Revenue · Quarterly
$357M
Revenue by segment
Metallus · $220M total across 3 segments · Q2 2023
- Industrial$169M-18.9%76.8%
- Energy$45.9M-0.9%20.9%
- Other$5M-39.8%2.3%
Forward guidance
The company expects adjusted EBITDA to remain strong in the third quarter of 2023.
Tailwinds
- Ship tons are expected to modestly increase in the third quarter with steady customer demand and orders booking into the fourth quarter.
- Base price per ton is anticipated to remain strong for the remainder of 2023.
- The company expects a sequential increase in the average melt utilization rate in the third quarter.
- Inflationary pressure is anticipated to be stable on commodities, consumables and other manufacturing costs in the second half of 2023.
- Operating cash flow is expected to be positive in the third quarter, primarily driven by anticipated profitability.
Headwinds
- Annual shutdown maintenance is planned for the second half of 2023 at a cost of approximately $12 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.6%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
42%
22 / 52 earnings
Positive
+80.9%
Q4 2015
Best reaction
-16.6%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.0% | -0.6% | +8.3% | |
| Q4 2025 | -16.6% | -18.1% | -29.2% | |
| Q3 2025 | -1.7% | -6.8% | +0.9% | |
| Q1 2025 | -11.1% | +2.5% | +7.4% | |
| Q4 2024 | -8.0% | -10.6% | -13.4% | |
| Q3 2024 | -4.1% | -3.6% | +0.4% | |
| Q2 2024 | -8.6% | -12.6% | -20.5% | |
| Q1 2024 | +10.7% | +11.3% | +9.6% | |
| Q4 2023 | -0.2% | +1.3% | +9.1% | |
| Q3 2023 | -2.5% | +0.0% | +1.8% | |
| Q2 2023 | -9.6% | -6.3% | -3.3% | |
| Q1 2023 | +5.4% | +6.9% | +12.0% | |
| Q4 2022 | +1.7% | +1.0% | -0.9% | |
| Q3 2022 | +12.2% | +14.1% | +16.4% | |
| Q2 2022 | -2.9% | -1.1% | -12.1% | |
| Q1 2022 | -9.5% | -13.8% | +18.5% | |
| Q4 2021 | +14.3% | +16.2% | +56.3% | |
| Q3 2021 | +5.3% | +10.2% | +0.6% | |
| Q2 2021 | +12.0% | +31.8% | +4.2% | |
| Q1 2021 | +0.2% | +11.1% | +15.5% | |
| Q4 2020 | -4.4% | -0.7% | +28.4% | |
| Q3 2020 | +1.8% | +15.5% | +29.2% | |
| Q2 2020 | +2.7% | +5.9% | -8.7% | |
| Q1 2020 | +30.0% | +26.2% | +70.8% | |
| Q4 2019 | -5.9% | -7.8% | -41.0% | |
| Q3 2019 | +13.2% | -13.9% | +8.7% | |
| Q2 2019 | -3.0% | -9.9% | -25.3% | |
| Q1 2019 | +6.7% | -1.7% | -28.8% | |
| Q4 2018 | +12.0% | +3.1% | -15.3% | |
| Q3 2018 | +15.4% | +5.4% | +0.5% | |
| Q2 2018 | -14.9% | -23.8% | -23.6% | |
| Q1 2018 | +0.6% | -2.2% | +1.9% | |
| Q4 2017 | -11.2% | -14.3% | -12.7% | |
| Q3 2017 | -12.4% | -22.1% | -17.6% | |
| Q2 2017 | -2.0% | +1.1% | -5.7% | |
| Q1 2017 | -8.3% | -9.9% | -16.6% | |
| Q4 2016 | +13.9% | +20.0% | +11.7% | |
| Q3 2016 | -4.2% | -7.9% | +48.7% | |
| Q2 2016 | -15.0% | -22.7% | -15.7% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | +80.9% | — | — | |
| Q3 2015 | -2.8% | — | — | |
| Q2 2015 | -6.5% | — | — | |
| Q1 2014 | +1.9% | — | — | |
| Q1 2015 | +6.7% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q4 2012 | -3.4% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q3 2014 | -0.3% | — | — | |
| Q4 2013 | -1.9% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q2 2014 | +10.4% | — | — | |
| Q1 2013 | — | — | — |
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