Loading...
•
Dec 31, 2024
Metallus Q4 2024 Earnings Report
Metallus reported a net loss in the fourth quarter of 2024, with decreased net sales compared to the prior year, but showed sequential improvement in sales and adjusted EBITDA.
Key Takeaways
Metallus reported fourth-quarter 2024 net sales of $240.5 million and a net loss of $21.4 million, or $0.50 per diluted share. On an adjusted basis, the net loss was $3.3 million, or $0.08 per diluted share, with adjusted EBITDA of $8.3 million. This represents a sequential improvement in net sales and adjusted EBITDA compared to the third quarter of 2024, but a decline from the fourth quarter of 2023.
Net sales for Q4 2024 were $240.5 million, a 6% increase sequentially but a 27% decrease compared to Q4 2023.
The company reported a net loss of $21.4 million for Q4 2024, with an adjusted EBITDA of $8.3 million.
Operating cash flow was $13.9 million in Q4 2024, contributing to a full-year operating cash flow of $40.3 million.
Total liquidity stood at $458.6 million at the end of 2024, with cash and cash equivalents at $240.7 million.
Revenue by Segment
Forward Guidance
Metallus expects first-quarter 2025 adjusted EBITDA to be higher than the fourth quarter of 2024, driven by stronger customer order patterns and improved melt utilization.
Positive Outlook
- First-quarter shipments are expected to increase from the fourth quarter of 2024 as the order book begins to strengthen.
- Lead times for both bar and tube products currently extend to May.
- Surcharge revenue per ton is expected to be sequentially higher in the first quarter primarily driven by higher scrap prices.
- The company expects the average melt utilization rate to be approximately 70 percent in the first quarter driven by improvement in the order book.
- Manufacturing costs are expected to sequentially improve in the first quarter following the completion of planned annual shutdown maintenance in the fourth quarter and expected higher first-quarter melt utilization.
Challenges Ahead
- Average base price per ton for customers covered by annual agreements is expected to decrease by low to mid-single digits on a percentage basis in 2025 compared with average base price per ton for the full year 2024, mix dependent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...