$MTUS
Metallus Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021054555 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $343.7M $205.9M $154.0M
YoY Change 66.93% -24.91% -54.26%
Cost Of Revenue $277.0M $208.3M $158.0M
YoY Change 32.98% -24.75% -50.92%
Gross Profit $66.70M -$2.400M -$4.000M
YoY Change -2879.17% -7.69% -127.03%
Gross Profit Margin 19.41% -1.17% -2.6%
Selling, General & Admin $19.90M $17.90M $16.80M
YoY Change 11.17% -16.36% -16.83%
% of Gross Profit 29.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.10M $17.00M $16.80M
YoY Change -11.18% 4.29% 1.82%
% of Gross Profit 22.64%
Operating Expenses $19.90M $17.90M $16.80M
YoY Change 11.17% -16.36% -16.83%
Operating Profit $46.80M -$20.30M -$20.80M
YoY Change -330.54% -15.42% 285.19%
Interest Expense -$1.200M -$3.100M $3.000M
YoY Change -61.29% -186.11% -28.57%
% of Operating Profit -2.56%
Other Income/Expense, Net $6.600M $10.60M $8.100M
YoY Change -37.74% 103.85% 3950.0%
Pretax Income $50.60M -$13.60M -$15.10M
YoY Change -472.06% -39.56% 2.03%
Income Tax $500.0K $300.0K $200.0K
% Of Pretax Income 0.99%
Net Earnings $50.10M -$13.90M -$15.30M
YoY Change -460.43% -18.24% 28.57%
Net Earnings / Revenue 14.58% -6.75% -9.94%
Basic Earnings Per Share $1.08 -$0.31 -$0.34
Diluted Earnings Per Share $0.94 -$0.31 -$0.34
COMMON SHARES
Basic Shares Outstanding 46.20M 45.00M 45.00M
Diluted Shares Outstanding 53.90M 45.00M 45.00M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.0M $74.80M $75.50M
YoY Change 129.95% 306.52% 261.24%
Cash & Equivalents $172.0M $74.80M $75.50M
Short-Term Investments
Other Short-Term Assets $3.300M $6.900M $5.600M
YoY Change -52.17% -12.66% -26.32%
Inventory $214.4M $174.3M $206.4M
Prepaid Expenses
Receivables $130.1M $81.20M $63.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $529.4M $343.8M $355.1M
YoY Change 53.98% -17.75% -26.37%
LONG-TERM ASSETS
Property, Plant & Equipment $522.5M $582.4M $595.4M
YoY Change -10.29% -9.42% -8.36%
Goodwill
YoY Change
Intangibles $7.300M $10.10M $11.20M
YoY Change -27.72% -37.65% -35.63%
Long-Term Investments
YoY Change
Other Assets $2.300M $3.000M $3.100M
YoY Change -23.33% 11.11% 14.81%
Total Long-Term Assets $587.0M $639.9M $648.6M
YoY Change -8.27% -7.17% -6.98%
TOTAL ASSETS
Total Short-Term Assets $529.4M $343.8M $355.1M
Total Long-Term Assets $587.0M $639.9M $648.6M
Total Assets $1.116B $983.7M $1.004B
YoY Change 13.49% -11.16% -14.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $131.8M $73.80M $48.10M
YoY Change 78.59% -6.58% -56.39%
Accrued Expenses $50.50M $33.20M $29.40M
YoY Change 52.11% 27.2% 21.49%
Deferred Revenue
YoY Change
Short-Term Debt $44.80M $82.20M $81.00M
YoY Change -45.5%
Long-Term Debt Due $44.80M
YoY Change
Total Short-Term Liabilities $242.5M $202.9M $169.9M
YoY Change 19.52% 65.63% 9.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $20.00M $60.00M
YoY Change -100.0% -89.33% -72.89%
Other Long-Term Liabilities $10.30M $11.80M $11.40M
YoY Change -12.71% 13.46% 7.55%
Total Long-Term Liabilities $10.30M $11.80M $11.40M
YoY Change -12.71% 13.46% 7.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $242.5M $202.9M $169.9M
Total Long-Term Liabilities $10.30M $11.80M $11.40M
Total Liabilities $495.8M $469.3M $476.7M
YoY Change 5.65% -7.55% -16.7%
SHAREHOLDERS EQUITY
Retained Earnings -$245.3M -$350.6M -$336.7M
YoY Change -30.03% 27.96% 24.98%
Common Stock $829.5M $842.3M $840.7M
YoY Change -1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.50M $17.50M
YoY Change -30.28% -30.28%
Treasury Stock Shares $700.0K $700.0K
Shareholders Equity $620.6M $514.4M $527.0M
YoY Change
Total Liabilities & Shareholders Equity $1.116B $983.7M $1.004B
YoY Change 13.49% -11.16% -14.91%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $50.10M -$13.90M -$15.30M
YoY Change -460.43% -18.24% 28.57%
Depreciation, Depletion And Amortization $15.10M $17.00M $16.80M
YoY Change -11.18% 4.29% 1.82%
Cash From Operating Activities $53.80M $41.10M $16.10M
YoY Change 30.9% -1.91% 0.63%
INVESTING ACTIVITIES
Capital Expenditures -$3.500M -$3.400M -$6.700M
YoY Change 2.94% -63.83% -15.19%
Acquisitions
YoY Change
Other Investing Activities $6.400M $1.600M $600.0K
YoY Change 300.0%
Cash From Investing Activities $2.900M -$1.800M -$6.100M
YoY Change -261.11% -80.85% -22.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K -40.00M -100.0K
YoY Change -100.25% 14.29% -102.0%
NET CHANGE
Cash From Operating Activities 53.80M 41.10M 16.10M
Cash From Investing Activities 2.900M -1.800M -6.100M
Cash From Financing Activities 100.0K -40.00M -100.0K
Net Change In Cash 56.80M -700.0K 9.900M
YoY Change -8214.29% -72.0% -24.43%
FREE CASH FLOW
Cash From Operating Activities $53.80M $41.10M $16.10M
Capital Expenditures -$3.500M -$3.400M -$6.700M
Free Cash Flow $57.30M $44.50M $22.80M
YoY Change 28.76% -13.26% -4.6%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Payments For Restructuring
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CY2020Q3 tmst Pension Costand Other Postretirement Benefits Cost Reversalof Cost Remeasurement
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tmst Pension Costand Other Postretirement Benefits Cost Reversalof Cost Remeasurement
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2020Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q3 us-gaap Income Tax Expense Benefit
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CY2020Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Continuing Operations
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tmst Incremental Common Shares Attributable To Share Based Payment Arrangements Shares Assumed Purchased
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsSharesAssumedPurchased
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CY2021Q3 tmst Incremental Common Shares Attributable To Share Based Payment Arrangements Shares Assumed Purchased With Potential Proceeds
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2900000
tmst Incremental Common Shares Attributable To Share Based Payment Arrangements Shares Assumed Purchased With Potential Proceeds
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CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
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us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
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CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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117200000
us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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45800000
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2020Q4 us-gaap Inventory Raw Materials
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CY2021Q3 us-gaap Inventory Work In Process
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107100000
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79100000
CY2021Q3 us-gaap Inventory Finished Goods
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58200000
CY2020Q4 us-gaap Inventory Finished Goods
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55600000
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215800000
CY2020Q4 us-gaap Inventory Gross
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CY2021Q3 us-gaap Inventory Valuation Reserves
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CY2020Q4 us-gaap Inventory Valuation Reserves
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13900000
CY2021Q3 us-gaap Inventory Net
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CY2021Q3 us-gaap Long Term Debt
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44800000
CY2020Q4 us-gaap Long Term Debt
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CY2021Q3 us-gaap Long Term Debt Current
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CY2020Q4 us-gaap Long Term Debt Current
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CY2020Q4 us-gaap Long Term Debt Noncurrent
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us-gaap Interest Paid
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3400000
us-gaap Interest Paid
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4500000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2020Q3 us-gaap Allocated Share Based Compensation Expense
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1600000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5200000
tmst Future Allocated Share Based Compensation Expense
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11900000
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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300000
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
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4300000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
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us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
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2300000
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
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tmst Sales And Use Tax Refund
SalesAndUseTaxRefund
-2500000

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