Metallus (MTUS) FY2022 results: revenue $1.3 billion, up 3.7% on the year

Metallus Inc. (MTUS) reported revenue of $1.3 billion for fiscal 2022, the year ended 31 December 2022, up 3.7% on the year before. Net income was $65 million, down 61.9%, and diluted earnings per share $1.30. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.

Revenue

$1.3 billion

+3.7% on the year

FY2015FY2022

Operating margin

n/a

FY2015FY2022

Net income

$65 million

-61.9% on the year

FY2015FY2022

Diluted EPS

$1.30

-59.1% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,330	1,283	831	+3.7%
Cost of revenue	1,203	1,063	815	+13.2%
Gross profit	127	220	15.6	-42.4%
Gross margin	9.5%	17.1%	1.9%
Research and development	0.8	1.7	1.8	-52.9%
Selling, general and administrative	73.8	77.2	76.7	-4.4%
Interest expense	3.9	6.2	12.6	-37.1%
Pre-tax income	97.1	177	-60.7	-45.0%
Income tax	32.0	5.7	1.2	+461.4%
Effective tax rate	33.0%	3.2%	n/a
Net income	65.1	171	-61.9	-61.9%
Net margin	4.9%	13.3%	-7.5%
Diluted EPS	$1.30	$3.18	-$1.38	-59.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	134	197	174	-31.7%
Capital expenditure	27.1	12.2	16.9	+122.1%
Free cash flow	107	185	157	-41.9%
Free cash flow margin	8.1%	14.4%	18.9%
Cash from investing	-21.7	-4.8	-6.0
Cash from financing	-115	-35.3	-91.8
Depreciation and amortisation	58.3	63.1	70.0	-7.6%
Share-based compensation	8.8	7.3	6.6	+20.5%
Buybacks	52.0	0.0	0.0
Diluted shares, weighted	52m	55m	45m	-6.4%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	686	665	508	+3.3%
Debt	20.4	44.9	78.2	-54.6%
Operating lease liabilities	6.5	8.8	13.5	-26.1%
Other liabilities	369	441	395	-16.3%
Total liabilities and equity	1,082	1,159	994	-6.6%
Fixed assets	486	510	570	-4.7%
Intangible assets	5.0	6.7	9.3	-25.4%
Cash and equivalents	257	260	103	-0.9%
Receivables	79.4	100	63.3	-21.0%
Inventory	192	211	178	-8.8%
Other assets	61.9	71.0	70.4	-12.8%
Total assets	1,082	1,159	994	-6.6%

10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.