$MTUS
Metallus Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022021894 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $245.4M $316.8M $343.7M
YoY Change -27.46% -7.83% 66.93%
Cost Of Revenue $265.7M $311.2M $277.0M
YoY Change -6.08% 12.35% 32.98%
Gross Profit -$20.30M $5.600M $66.70M
YoY Change -136.64% -91.6% -2879.17%
Gross Profit Margin -8.27% 1.77% 19.41%
Selling, General & Admin $17.40M $16.20M $19.90M
YoY Change 3.57% -18.59% 11.17%
% of Gross Profit 289.29% 29.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.60M $14.40M $15.10M
YoY Change -2.67% -4.64% -11.18%
% of Gross Profit 257.14% 22.64%
Operating Expenses $17.40M $16.20M $19.90M
YoY Change 3.57% -18.59% 11.17%
Operating Profit -$37.70M -$10.60M $46.80M
YoY Change -197.67% -122.65% -330.54%
Interest Expense $1.000M -$200.0K -$1.200M
YoY Change -183.33% -83.33% -61.29%
% of Operating Profit -2.56%
Other Income/Expense, Net $31.80M -$200.0K $6.600M
YoY Change 1.92% -103.03% -37.74%
Pretax Income -$4.300M -$12.60M $50.60M
YoY Change -107.08% -124.9% -472.06%
Income Tax $28.90M $700.0K $500.0K
% Of Pretax Income 0.99%
Net Earnings -$33.20M -$13.30M $50.10M
YoY Change -158.14% -126.55% -460.43%
Net Earnings / Revenue -13.53% -4.2% 14.58%
Basic Earnings Per Share -$0.29 $1.08
Diluted Earnings Per Share -$0.75 -$0.29 $0.94
COMMON SHARES
Basic Shares Outstanding 44.47M 46.22M 46.20M
Diluted Shares Outstanding 46.00M 53.90M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.2M $262.5M $172.0M
YoY Change -0.92% 52.62% 129.95%
Cash & Equivalents $257.2M $262.5M $172.0M
Short-Term Investments
Other Short-Term Assets $21.20M $7.400M $3.300M
YoY Change 583.87% 124.24% -52.17%
Inventory $192.4M $205.6M $214.4M
Prepaid Expenses
Receivables $79.40M $100.1M $130.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $556.6M $582.5M $529.4M
YoY Change -4.41% 10.03% 53.98%
LONG-TERM ASSETS
Property, Plant & Equipment $486.1M $485.1M $522.5M
YoY Change -4.72% -7.16% -10.29%
Goodwill
YoY Change
Intangibles $5.000M $5.400M $7.300M
YoY Change -25.37% -26.03% -27.72%
Long-Term Investments
YoY Change
Other Assets $2.400M $2.500M $2.300M
YoY Change 14.29% 8.7% -23.33%
Total Long-Term Assets $525.4M $539.8M $587.0M
YoY Change -8.88% -8.04% -8.27%
TOTAL ASSETS
Total Short-Term Assets $556.6M $582.5M $529.4M
Total Long-Term Assets $525.4M $539.8M $587.0M
Total Assets $1.082B $1.122B $1.116B
YoY Change -6.64% 0.53% 13.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.2M $123.8M $131.8M
YoY Change -20.23% -6.07% 78.59%
Accrued Expenses $29.20M $31.40M $50.50M
YoY Change -39.04% -37.82% 52.11%
Deferred Revenue
YoY Change
Short-Term Debt $20.40M $20.40M $44.80M
YoY Change -54.57% -54.46% -45.5%
Long-Term Debt Due $20.40M $20.40M $44.80M
YoY Change -54.57% -54.46%
Total Short-Term Liabilities $186.7M $191.9M $242.5M
YoY Change -25.56% -20.87% 19.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $13.50M $12.90M $10.30M
YoY Change 42.11% 25.24% -12.71%
Total Long-Term Liabilities $13.50M $12.90M $10.30M
YoY Change 42.11% 25.24% -12.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.7M $191.9M $242.5M
Total Long-Term Liabilities $13.50M $12.90M $10.30M
Total Liabilities $395.5M $387.2M $495.8M
YoY Change -19.99% -21.9% 5.65%
SHAREHOLDERS EQUITY
Retained Earnings -$123.1M -$89.90M -$245.3M
YoY Change -34.59% -63.35% -30.03%
Common Stock $847.0M $846.0M $829.5M
YoY Change 1.79% 1.99% -1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $52.10M $33.60M
YoY Change
Treasury Stock Shares $3.000M $1.900M
Shareholders Equity $686.5M $735.1M $620.6M
YoY Change
Total Liabilities & Shareholders Equity $1.082B $1.122B $1.116B
YoY Change -6.64% 0.53% 13.49%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$33.20M -$13.30M $50.10M
YoY Change -158.14% -126.55% -460.43%
Depreciation, Depletion And Amortization $14.60M $14.40M $15.10M
YoY Change -2.67% -4.64% -11.18%
Cash From Operating Activities $23.70M $46.80M $53.80M
YoY Change -73.87% -13.01% 30.9%
INVESTING ACTIVITIES
Capital Expenditures $11.40M -$5.700M -$3.500M
YoY Change -332.65% 62.86% 2.94%
Acquisitions
YoY Change
Other Investing Activities $2.400M $2.900M $6.400M
YoY Change 140.0% -54.69% 300.0%
Cash From Investing Activities -$9.000M -$2.800M $2.900M
YoY Change 130.77% -196.55% -261.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.10M -20.30M 100.0K
YoY Change -2612.5% -20400.0% -100.25%
NET CHANGE
Cash From Operating Activities 23.70M 46.80M 53.80M
Cash From Investing Activities -9.000M -2.800M 2.900M
Cash From Financing Activities -20.10M -20.30M 100.0K
Net Change In Cash -5.400M 23.70M 56.80M
YoY Change -106.16% -58.27% -8214.29%
FREE CASH FLOW
Cash From Operating Activities $23.70M $46.80M $53.80M
Capital Expenditures $11.40M -$5.700M -$3.500M
Free Cash Flow $12.30M $52.50M $57.30M
YoY Change -87.13% -8.38% 28.76%

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CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0
CY2021Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
5900000
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
3900000
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
7800000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46000000.0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53900000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52300000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55200000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.49
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.12
CY2022Q3 us-gaap Other Inventory Supplies
OtherInventorySupplies
35400000
CY2021Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
29300000
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
39700000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
37300000
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
99700000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
89300000
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
31400000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
55800000
CY2022Q3 us-gaap Inventory Gross
InventoryGross
206200000
CY2021Q4 us-gaap Inventory Gross
InventoryGross
211700000
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
600000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
800000
CY2022Q3 us-gaap Inventory Net
InventoryNet
205600000
CY2021Q4 us-gaap Inventory Net
InventoryNet
210900000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
20400000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
44900000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
20400000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
44900000
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0
CY2022Q3 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
900000
CY2021Q3 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1300000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
3000000.0
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
4900000
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1100000
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
100000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1400000
us-gaap Investment Income Interest
InvestmentIncomeInterest
200000
CY2022Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
200000
CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1200000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1600000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4700000
CY2022Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
230900000
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
0
us-gaap Interest Paid
InterestPaid
2300000
us-gaap Interest Paid
InterestPaid
3400000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
50000000.0
CY2022Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1300000
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
19700000
CY2022Q3 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
15.72
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1900000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
32400000
us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
17.42
CY2022Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
17600000
CY2022Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75000000.0
CY2022Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
79100000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6500000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1900000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000
tmst Future Allocated Share Based Compensation Expense
FutureAllocatedShareBasedCompensationExpense
13600000
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
-5400000
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
3300000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
600000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8100000
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
300000
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
4300000
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
-4000000.0
CY2022Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
600000
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
300000

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