US-based steelmaker Metallus has shared its financial results for the first quarter of 2025.
The company reported first quarter net sales of $280.5 million and net income of $1.3 million, or $0.03 per diluted share. In the same quarter in 2024, net sales were $321.6 million and net income was $24.0 million, or $0.52 per diluted share.
The company’s shipments totaled 152,900 mt, increasing by 22,700 mt sequentially, or 17 percent month on month, driven by higher industrial, automotive and energy shipments, partially offset by lower aerospace & defense shipments. Compared with the prior-year first quarter, ship tons decreased 1 percent as a result of lower shipments in aerospace & defense and automotive, partially offset by higher industrial and energy shipments.
Mike Williams, president and CEO of Metallus, stated, “Our solid order book, strengthening spot pricing environment, and recent market share gains demonstrate the trust our customers place in us and the resilience of our business strategy. We support the enforcement and expansion of steel tariffs and believe they will help Metallus meet the growing demand for U.S.-produced steel. As domestic steel consumption increases, we are experiencing an increase in our order bookings from new and existing customers. Consequently, our order backlog has increased approximately 50 percent from the same period a year ago. At the same time, we remain mindful of the potential challenges posed by the current macroeconomic landscape. We are confident that we will be able to navigate this uncertainty and continue delivering value to our stakeholders.”
Looking forward, Metallus expects second quarter shipments to modestly increase from the first quarter due to by higher aerospace & defense shipments. Lead times for both bar and tube products currently extend to July. And operationally, the company expects the average melt utilization rate to increase in the second quarter, driven by improved operational performance and supported by an increasing order book. Also, manufacturing cost absorption is expected to improve in the second quarter on a planned increase in melt utilization.