Metallus (MTUS) FY2024 results: revenue $1.1 billion, down 20.4% on the year

Metallus Inc. (MTUS) reported revenue of $1.1 billion for fiscal 2024, the year ended 31 December 2024, down 20.4% on the year before. Net income was $1 million, down 98.1%, and diluted earnings per share $0.03. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$1.1 billion

-20.4% on the year

FY2017FY2024

Operating margin

n/a

FY2017FY2024

Net income

$1 million

-98.1% on the year

FY2017FY2024

Diluted EPS

$0.03

-98.0% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,084	1,362	1,330	-20.4%
Cost of revenue	986	1,176	1,203	-16.1%
Gross profit	97.7	186	127	-47.6%
Gross margin	9.0%	13.7%	9.5%
Research and development	n/a	n/a	0.8
Selling, general and administrative	87.7	84.6	73.8	+3.7%
Interest expense	n/a	2.7	3.9
Pre-tax income	4.6	96.4	97.1	-95.2%
Income tax	3.3	27.0	32.0	-87.8%
Effective tax rate	71.7%	28.0%	33.0%
Net income	1.3	69.4	65.1	-98.1%
Net margin	0.1%	5.1%	4.9%
Diluted EPS	$0.03	$1.47	$1.30	-98.0%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	40.3	125	134	-67.8%
Capital expenditure	64.3	51.6	27.1	+24.6%
Free cash flow	-24.0	73.7	107
Free cash flow margin	-2.2%	5.4%	8.1%
Cash from investing	-10.8	-49.9	-21.7
Cash from financing	-68.9	-51.9	-115
Depreciation and amortisation	54.1	56.9	58.3	-4.9%
Share-based compensation	14.0	11.5	8.8	+21.7%
Buybacks	37.6	32.6	52.0	+15.3%
Diluted shares, weighted	44m	48m	52m	-7.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	690	732	686	-5.6%
Debt	5.4	13.2	20.4	-59.1%
Operating lease liabilities	6.9	6.4	6.5	+7.8%
Finance lease liabilities	0.0	n/a	n/a
Other liabilities	414	424	369	-2.4%
Total liabilities and equity	1,117	1,175	1,082	-5.0%
Fixed assets	507	492	486	+3.0%
Intangible assets	3.4	2.7	5.0	+25.9%
Cash and equivalents	241	281	257	-14.2%
Receivables	90.8	113	79.4	-19.8%
Inventory	220	228	192	-3.6%
Other assets	54.7	58.3	61.9	-6.2%
Total assets	1,117	1,175	1,082	-5.0%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.