Timkensteel Corp ( (MTUS) ) has released its Q4 earnings. Here is a breakdown of the information Timkensteel Corp presented to its investors.
Metallus Inc., a premier U.S. producer of high-performance specialty metals, serves diverse sectors including industrial, automotive, aerospace & defense, and energy. The company, headquartered in Canton, Ohio, has been in the steel manufacturing business for over a century.
In its latest earnings report, Metallus announced fourth-quarter 2024 net sales of $240.5 million, with a net loss of $21.4 million. For the full year, the company achieved net sales of $1.1 billion and a net income of $1.3 million. The company highlighted its continued investments in safety and efficiency, despite facing weak demand across most end markets.
Key financial metrics revealed a 6% increase in fourth-quarter net sales compared to the previous quarter, driven by higher shipments in aerospace & defense. However, compared to the same quarter in 2023, net sales decreased by 27% due to lower shipments and average base sales prices. For the full year, net income dropped significantly from $69.4 million in 2023 to $1.3 million in 2024, with adjusted EBITDA for the year at $77.7 million.
The company maintained a strong liquidity position with $240.7 million in cash and cash equivalents at the end of 2024. Metallus also engaged in strategic capital allocation, investing $64.3 million in capital expenditures and repurchasing $54.8 million in common shares and convertible notes.
Looking ahead, Metallus is optimistic about improving market conditions in 2025, expecting stronger customer order patterns and increased profitability. The company remains committed to its strategic imperatives, focusing on safety, customer service, and sustainable profitability and cash flow across varying market conditions.