Every 8-K that Metallus Inc. (MTUS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow MTUS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MTUS filings page.
Metallus Inc. (MTUS) announced a planned CEO transition and related leadership changes. Michael S. Williams will retire as Chief Executive Officer and director effective December 31, 2026, and is expected to serve as Special Advisor to the CEO and Board through June 30, 2027.
The Board appointed Kristopher R. Westbrooks, currently President and Chief Operating Officer, as President and Chief Executive Officer and director effective January 1, 2027. His compensation package includes a base salary of $800,000, a target annual bonus equal to 100% of base salary, and a target annual long-term equity incentive of $2,400,000, with 60% in performance-based restricted stock units and 40% in time-based restricted stock units. Williams will receive a Special Advisor monthly base salary of $39,375. The company also reported 2025 sales of $1.2 billion and approximately 1,905 employees.
Metallus Inc. reported a strong second quarter of 2026, with net sales of $341.0 million, up 11% sequentially and 12% year over year. Net income was $8.9 million, or $0.21 per diluted share, compared with $5.4 million in the first quarter and $3.7 million a year earlier. On an adjusted basis, net income was $11.1 million, or $0.26 per diluted share, and adjusted EBITDA was $29.0 million, up 18% sequentially and 9% year over year.
Shipments rose to 174.2 thousand tons, driven by higher volumes across most end-markets, improved pricing, and better product mix. Melt utilization increased to 74%, although manufacturing cost performance declined sequentially due to lower-than-planned fixed-cost absorption and higher maintenance. As of June 30, 2026, Metallus held $108.6 million in cash and cash equivalents and total liquidity of $394.8 million, with its $300.0 million asset-based revolving credit facility undrawn and refinanced to mature in June 2031. Second-quarter operating cash flow was $12.8 million and free cash flow was $7.1 million. The company invested $15.2 million in capital expenditures (including $9.5 million for U.S. government-funded projects) and repurchased 0.2 million shares for $3.6 million.
For the third quarter of 2026, Metallus expects shipments similar to the second quarter, slightly better pricing and mix, a modest increase in melt utilization, and adjusted EBITDA slightly higher than both the second quarter of 2026 and the third quarter of 2025. Planned 2026 capital expenditures remain about $70 million, including $35 million partially funded by the U.S. government, with no additional pension contributions anticipated for the rest of 2026 and an expected full-year adjusted effective tax rate between 27% and 30%.
Metallus Inc. entered into a Fifth Amended and Restated Credit Agreement providing a new $300 million asset-based revolving credit facility with a syndicate of lenders led by JPMorgan Chase. This facility is secured by substantially all personal property of Metallus and key domestic subsidiaries and is guaranteed by those subsidiaries.
The facility includes a $15 million letter-of-credit sublimit and a $40 million swingline loan sublimit, with options to increase lender commitments by up to $200 million plus a separate $30 million first-in, last-out tranche if conditions are met. Borrowing availability is tied to a borrowing base of eligible receivables, inventory, and equipment, and the facility carries variable interest based on either an Alternate Base Rate or Adjusted Term SOFR plus a margin, plus a 0.25% fee on unused commitments.
The credit facility matures on June 30, 2031, and requires mandatory prepayments from certain asset sales or capital raises before then. As of June 30, 2026, Metallus had $5.3 million outstanding in letters of credit under this facility, which is intended to support working capital, capital spending, permitted acquisitions, and general corporate purposes.
Metallus Inc. reported stronger first-quarter 2026 results, with net sales of $308.3 million and net income of $5.4 million, or $0.13 per diluted share. Adjusted net income was $7.7 million, or $0.18 per diluted share, and adjusted EBITDA rose to $24.6 million.
Sales increased 15 percent sequentially and 10 percent year over year, driven by higher shipments across most end markets and higher surcharge revenue. Melt utilization improved to 72 percent, while cash and cash equivalents were $104.0 million and total liquidity was $374.7 million as of March 31, 2026.
Operating cash flow was a use of $26.9 million, reflecting working capital needs and front-loaded pension contributions. The company invested $24.7 million in capital expenditures, repurchased $4.3 million of common shares, and continues to receive U.S. government funding for its capacity expansion project.
Metallus Inc. reported results of its Annual Meeting of Shareholders held on April 30, 2026. Shareholders elected three Class I directors—Nicholas J. Chirekos, Randall H. Edwards, and Randall A. Wotring—to three-year terms expiring at the 2029 annual meeting.
Shareholders also ratified the selection of Ernst & Young LLP as independent auditor for the fiscal year ending December 31, 2026, with 38,714,271 votes for, 260,980 against, and 17,156 abstentions. In addition, they approved, on an advisory basis, the compensation of the company’s named executive officers, with 32,457,415 votes for, 890,751 against, 72,795 abstentions, and 5,571,446 broker non-votes.
Metallus Inc. reported fourth-quarter 2025 net sales of $267.3 million and a net loss of $14.3 million, or -$0.34 per diluted share. Adjusted net loss was $7.7 million with adjusted EBITDA of $2.4 million, down sharply from the third quarter but better than the prior-year loss.
For full-year 2025, net sales rose 7% to $1.16 billion. The company posted a small net loss of $1.2 million, while adjusted net income was $15.3 million, or $0.37 per share, and adjusted EBITDA was $75.6 million, slightly below 2024.
Cash and cash equivalents were $156.7 million with total liquidity of $389.2 million as of December 31, 2025. Metallus invested $109.0 million in capital expenditures, including $81.3 million funded by the U.S. government, and repurchased 0.9 million shares for $13.1 million.
The order book is up more than 50% year-over-year, led by strong aerospace and defense demand. Management expects shipments and adjusted EBITDA to improve sequentially in 2026, supported by higher melt utilization, a new four-year USW labor agreement, modest pricing gains, and lower pension contributions.
Metallus Inc. (MTUS) furnished a press release announcing its third-quarter 2025 results and made an updated investor presentation available on its investor relations website. The press release is included as Exhibit 99.1, and the presentation now reflects third-quarter financial information.
The materials under Items 2.02 and 7.01 are furnished, not filed, which means they are not subject to Section 18 of the Exchange Act or incorporated into other filings unless specifically referenced.