Metallus (MTUS) Q4 FY2023 earnings: revenue $328 million, up 33.7% on the year

Metallus Inc. (MTUS) reported revenue of $328 million for Q4 FY2023, the quarter ended 31 December 2023, up 33.7% on the same quarter a year earlier. Net income was $1 million, and diluted earnings per share $0.03. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.

Revenue$328 millionup 33.7%

Net income$1 million

Diluted EPS$0.03

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	328	354	n/a	n/a
Cost of revenue	287	303	n/a	n/a
Gross profit	41.4	51.0	n/a	n/a
Gross margin	12.6%	14.4%	n/a
Selling, general and administrative	22.7	20.5	n/a	n/a
Interest expense	0.8	0.6	n/a	n/a
Pre-tax income	3.7	34.6	n/a	n/a
Income tax	2.4	9.8	n/a	n/a
Effective tax rate	64.9%	28.3%	n/a
Net income	1.3	24.8	n/a	n/a
Net margin	0.4%	7.0%	n/a
Diluted EPS	$0.03	$0.51	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. 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 and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	74.1	28.1	n/a	n/a
Capital expenditure	15.4	17.5	n/a	n/a
Free cash flow	58.7	10.6	n/a	n/a
Free cash flow margin	17.9%	3.0%	n/a
Cash from investing	-15.4	-17.5	n/a	n/a
Cash from financing	-3.7	-7.1	n/a	n/a
Depreciation and amortisation	14.1	14.0	n/a	n/a
Share-based compensation	3.0	3.0	n/a	n/a
Buybacks	4.1	7.7	n/a	n/a
Diluted shares, weighted	47m	48m	n/a	n/a
Shares outstanding at period end	44m	43m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	732	730	n/a	n/a
Debt	13.2	13.1	n/a	n/a
Operating lease liabilities	6.4	5.9	n/a	n/a
Other liabilities	424	404	n/a	n/a
Total liabilities and equity	1,175	1,154	n/a	n/a
Fixed assets	492	488	n/a	n/a
Intangible assets	2.7	3.0	n/a	n/a
Cash and equivalents	281	225	n/a	n/a
Receivables	113	136	n/a	n/a
Inventory	228	255	n/a	n/a
Other assets	58.3	46.6	n/a	n/a
Total assets	1,175	1,154	n/a	n/a

Questions

What was Metallus' revenue in Q4 FY2023?

Metallus (MTUS) reported revenue of $328 million for Q4 FY2023, the quarter ended 31 December 2023, up 33.7% on the same quarter a year earlier.

How much did Metallus earn in Q4 FY2023?

Net income for Q4 FY2023 was $1 million, and diluted earnings per share $0.03.

When did Metallus report Q4 FY2023 results?

Metallus filed its 10-K for the year that ended with the quarter on 28 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	354	328	322	295	227	240	280	305	306	267	308	341
Cost of revenue	303	287	271	271	215	230	259	272	271	261	283	307
Gross profit	51.0	41.4	50.6	24.1	12.1	10.9	21.9	32.2	35.0	6.0	25.1	34.1
Gross margin	14%	13%	16%	8%	5%	5%	8%	11%	11%	2%	8%	10%
SG&A	20.5	22.7	24.1	20.7	22.5	20.4	24.3	22.9	24.5	22.3	22.2	23.7
Interest expense	0.6	0.8	0.6	0.7	n/a	n/a	0.5	n/a	n/a	n/a	n/a	n/a
Pre-tax income	34.6	3.7	30.0	6.1	-7.1	-24.4	2.9	8.6	10.9	-20.5	8.0	11.9
Tax rate	28%	65%	20%	25%	n/a	n/a	55%	57%	26%	n/a	32%	25%
Net income	24.8	1.3	24.0	4.6	-5.9	-21.4	1.3	3.7	8.1	-14.3	5.4	8.9
Net margin	7%	0%	7%	2%	-3%	-9%	0%	1%	3%	-5%	2%	3%
Diluted EPS	$0.51	$0.03	$0.52	$0.10	-$0.13	-$0.50	$0.03	$0.09	$0.19	-$0.34	$0.13	$0.21
Operating cash flow	28.1	74.1	33.4	8.3	-15.3	13.9	-38.9	34.8	22.0	-1.9	-26.9	12.8
Capital expenditure	17.5	15.4	17.4	14.1	17.6	15.2	27.5	17.8	28.4	35.3	24.7	15.2
Free cash flow	10.6	58.7	16.0	-5.8	-32.9	-1.3	-66.4	17.0	-6.4	-37.2	-51.6	-2.4
Buybacks	7.7	4.1	4.4	9.6	20.1	3.5	5.6	3.3	3.0	1.2	4.3	3.6
Shares outstanding	43m	44m	44m	43m	42m	42m	42m	42m	42m	42m	42m	41m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 28 February 2024, accession 0000950170-24-022078: the filing on EDGAR. All of Metallus Inc.'s filings: EDGAR company page.

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