Net sales climbed 12% year-over-year to $341.0 million, driven by strong demand in the automotive and aerospace and defense sectors. Adjusted EBITDA reached $29.0 million, reflecting an 18% sequential increase. CEO Mike Williams attributed these results to improved pricing power and a healthier product mix, which helped offset manufacturing costs associated with heavy maintenance and asset reliability work.
Operational capacity is expanding, marked by the recent commissioning of a new bloom reheat furnace in Canton. Metallus also secured its financial footing by refinancing its credit agreement, extending maturity to 2031 and maintaining $394.8 million in total liquidity. Looking ahead, the firm expects third-quarter profitability to remain steady, supported by an order book that extends into the fourth quarter.
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