$MTUS
Metallus Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022014785 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $316.8M $415.7M $352.0M
YoY Change -7.83% 27.01% 28.65%
Cost Of Revenue $311.2M $334.3M $292.0M
YoY Change 12.35% 28.53% 20.21%
Gross Profit $5.600M $81.40M $60.00M
YoY Change -91.6% 21.13% 95.44%
Gross Profit Margin 1.77% 19.58% 17.05%
Selling, General & Admin $16.20M $21.70M $18.50M
YoY Change -18.59% 3.33% -5.13%
% of Gross Profit 289.29% 26.66% 30.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.40M $14.70M $14.60M
YoY Change -4.64% -4.55% -17.05%
% of Gross Profit 257.14% 18.06% 24.33%
Operating Expenses $16.20M $21.70M $18.50M
YoY Change -18.59% 3.33% -5.13%
Operating Profit -$10.60M $59.70M $41.50M
YoY Change -122.65% 29.22% 270.54%
Interest Expense -$200.0K $600.0K $1.200M
YoY Change -83.33% -64.71% -36.84%
% of Operating Profit 1.01% 2.89%
Other Income/Expense, Net -$200.0K $43.80M $15.20M
YoY Change -103.03% 256.1% 61.7%
Pretax Income -$12.60M $76.00M $38.00M
YoY Change -124.9% 37.18% 280.0%
Income Tax $700.0K $1.500M $900.0K
% Of Pretax Income 1.97% 2.37%
Net Earnings -$13.30M $74.50M $37.10M
YoY Change -126.55% 37.96% 278.57%
Net Earnings / Revenue -4.2% 17.92% 10.54%
Basic Earnings Per Share -$0.29 $1.60 $0.80
Diluted Earnings Per Share -$0.29 $1.42 $0.70
COMMON SHARES
Basic Shares Outstanding 46.22M 46.60M 46.40M
Diluted Shares Outstanding 46.00M 52.80M 53.80M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.5M $238.5M $239.9M
YoY Change 52.62% 107.03% 107.35%
Cash & Equivalents $262.5M $238.5M $239.9M
Short-Term Investments
Other Short-Term Assets $7.400M $1.700M $2.200M
YoY Change 124.24% -82.29% -81.67%
Inventory $205.6M $261.8M $230.1M
Prepaid Expenses
Receivables $100.1M $159.9M $135.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $582.5M $669.6M $615.2M
YoY Change 10.03% 46.75% 42.94%
LONG-TERM ASSETS
Property, Plant & Equipment $485.1M $489.7M $500.8M
YoY Change -7.16% -12.0% -8.95%
Goodwill
YoY Change
Intangibles $5.400M $5.800M $6.100M
YoY Change -26.03% -28.24%
Long-Term Investments
YoY Change
Other Assets $2.500M $1.800M $1.900M
YoY Change 8.7% -95.75% -26.92%
Total Long-Term Assets $539.8M $547.7M $570.8M
YoY Change -8.04% -9.74% -7.59%
TOTAL ASSETS
Total Short-Term Assets $582.5M $669.6M $615.2M
Total Long-Term Assets $539.8M $547.7M $570.8M
Total Assets $1.122B $1.217B $1.186B
YoY Change 0.53% 14.5% 13.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $123.8M $187.5M $168.5M
YoY Change -6.07% 45.24% 23.53%
Accrued Expenses $31.40M $38.90M $29.50M
YoY Change -37.82% -20.77% -22.37%
Deferred Revenue
YoY Change
Short-Term Debt $20.40M $20.40M $35.20M
YoY Change -54.46% -54.36% -12.44%
Long-Term Debt Due $20.40M $20.40M $35.20M
YoY Change -54.46% -54.36% -12.44%
Total Short-Term Liabilities $191.9M $260.0M $246.2M
YoY Change -20.87% 10.31% 8.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $12.90M $9.200M $9.100M
YoY Change 25.24% -96.41% -11.65%
Total Long-Term Liabilities $12.90M $9.200M $9.100M
YoY Change 25.24% -96.41% -83.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $191.9M $260.0M $246.2M
Total Long-Term Liabilities $12.90M $9.200M $9.100M
Total Liabilities $387.2M $448.4M $482.8M
YoY Change -21.9% -9.07% -9.72%
SHAREHOLDERS EQUITY
Retained Earnings -$89.90M -$76.60M -$151.1M
YoY Change -63.35% -56.75%
Common Stock $846.0M $843.9M $840.3M
YoY Change 1.99% 1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $33.60M $14.10M $4.800M
YoY Change 380.0%
Treasury Stock Shares $1.900M $700.0K $200.0K
Shareholders Equity $735.1M $768.9M $703.2M
YoY Change
Total Liabilities & Shareholders Equity $1.122B $1.217B $1.186B
YoY Change 0.53% 14.5% 13.16%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$13.30M $74.50M $37.10M
YoY Change -126.55% 37.96% 278.57%
Depreciation, Depletion And Amortization $14.40M $14.70M $14.60M
YoY Change -4.64% -4.55% -17.05%
Cash From Operating Activities $46.80M $50.70M $13.30M
YoY Change -13.01% 29.34% 0.76%
INVESTING ACTIVITIES
Capital Expenditures -$5.700M -$3.500M -$6.500M
YoY Change 62.86% 133.33% 182.61%
Acquisitions
YoY Change
Other Investing Activities $2.900M $100.0K
YoY Change -54.69%
Cash From Investing Activities -$2.800M -$3.400M -$6.500M
YoY Change -196.55% 126.67% 182.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.400M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.30M -48.70M -25.50M
YoY Change -20400.0% 27.49% -1375.0%
NET CHANGE
Cash From Operating Activities 46.80M 50.70M 13.30M
Cash From Investing Activities -2.800M -3.400M -6.500M
Cash From Financing Activities -20.30M -48.70M -25.50M
Net Change In Cash 23.70M -1.400M -18.70M
YoY Change -58.27% 180.0% -244.96%
FREE CASH FLOW
Cash From Operating Activities $46.80M $50.70M $13.30M
Capital Expenditures -$5.700M -$3.500M -$6.500M
Free Cash Flow $52.50M $54.20M $19.80M
YoY Change -8.38% 33.17% 27.74%

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500000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
800000
CY2022Q2 us-gaap Inventory Net
InventoryNet
261800000
CY2021Q4 us-gaap Inventory Net
InventoryNet
210900000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
20400000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
44900000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
20400000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
44900000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0
CY2022Q2 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
900000
CY2021Q2 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1700000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
2100000
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
300000
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
us-gaap Investment Income Interest
InvestmentIncomeInterest
300000
us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2022Q2 us-gaap Interest Expense
InterestExpense
600000
CY2021Q2 us-gaap Interest Expense
InterestExpense
1700000
us-gaap Interest Expense
InterestExpense
1800000
us-gaap Interest Expense
InterestExpense
3500000
CY2022Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
200100000
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
0
us-gaap Interest Paid
InterestPaid
1900000
us-gaap Interest Paid
InterestPaid
3100000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
50000000.0
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
400000
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
9300000
CY2022Q2 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
21.20
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
600000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
12700000
us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
20.94
CY2022Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
37300000
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0
CY2022Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4300000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3600000
tmst Future Allocated Share Based Compensation Expense
FutureAllocatedShareBasedCompensationExpense
15900000
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
-3100000
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
2300000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
400000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-5000000.0
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
400000
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
2900000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
0
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2500000
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
800000
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
300000

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