Every material Form 8-K Metallus filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Metallus reported third-quarter 2026 net sales of $337.2 million, up 10% from a year earlier but down 1% from the second quarter, and net income of $23.8 million, or $0.55 per diluted share. The company expects fourth-quarter adjusted EBITDA to be lower than the third quarter and full-year 2026 adjusted EBITDA of $100 million to $105 million.
Q3 2026 adjusted EBITDA was $34.5 million, up from $29.0 million in both the second quarter of 2026 and the third quarter of 2025.
Q3 net income included a $15.7 million gain from remeasurement of benefit plans; adjusted net income was $14.9 million, or $0.35 per diluted share, versus $11.8 million, or $0.27, a year earlier.
Fourth-quarter shipments are expected to fall by a high-single-digit percentage sequentially, and annual shutdown maintenance is expected to reduce adjusted EBITDA by about $10 million to $15 million versus the third quarter.
Kristopher Westbrooks will succeed Mike Williams as chief executive officer at the end of 2026, and the company received a U.S. Defense Logistics Agency contract with an initial $125 million purchase order.
Metallus CEO Michael Williams plans to retire as CEO and resign from the Board effective December 31, 2026, and the Board has named President and Chief Operating Officer Kristopher Westbrooks as his successor effective January 1, 2027. The filing describes the change as the result of a succession planning process and does not report any financial results or guidance.
Williams retires as CEO and director effective December 31, 2026, and will be a non-executive Special Advisor through June 30, 2027, at a monthly base salary of $39,375 with no new incentive awards.
Westbrooks, age 48, becomes President and CEO and a director effective January 1, 2027; he has been President and COO since June 2025 and was previously CFO after joining in September 2018.
Westbrooks' base salary rises to $800,000 per year, his target annual award rises from 85% to 100% of base, and his target long-term equity grant rises to $2.4 million per year beginning in 2027.
Kevin A. Raketich moves from Executive Vice President and Chief Commercial Officer to Executive Vice President, Strategy and Corporate Development.
Metallus reported second-quarter 2026 net sales of $341.0 million, up 12% from the prior-year quarter, and net income of $8.9 million, or $0.21 per diluted share, versus $3.7 million, or $0.09, a year earlier. The company expects third-quarter adjusted EBITDA to be slightly higher than the second quarter of 2026 and the third quarter of 2025, and it refinanced its credit facility to June 2031.
Second-quarter net sales $341.0 million, up 11% sequentially from $308.3 million and up 12% from $304.6 million a year earlier
Net income $8.9 million, or $0.21 per diluted share; adjusted EBITDA $29.0 million, up 9% year over year
Operating cash flow $12.8 million in the quarter; cash and cash equivalents $108.6 million as of June 30, 2026
Third-quarter adjusted EBITDA expected to be slightly higher than Q2 2026 and Q3 2025; conference call set for August 4, 2026 at 9:00 a.m. ET
Metallus Inc. entered into a Fifth Amended and Restated Credit Agreement on June 30, 2026, with JPMorgan Chase Bank, N.A. as administrative agent, providing a $300.0 million asset-based revolving credit facility that replaces a credit agreement dated September 30, 2022. The facility matures June 30, 2031 and is secured by substantially all of the company's and its subsidiary guarantors' personal property, so it adds secured borrowing capacity while also adding covenants that restrict liens, investments, additional debt and distributions to shareholders.
Credit facility of $300.0 million, with a $15.0 million letter of credit sublimit and a $40.0 million swingline sublimit
Company may request up to $200.0 million in commitment increases on up to four occasions, plus a separate $30.0 million first-in, last-out tranche, subject to conditions
Borrowing availability depends on a borrowing base of eligible receivables, inventory and machinery and equipment; $5.3 million of letters of credit were outstanding as of June 30, 2026
Facility matures June 30, 2031; interest is based on Adjusted Term SOFR or Alternate Base Rate plus a margin, with a 0.25% unused commitment fee
Metallus reported first-quarter 2026 net sales of $308.3 million, up 10% from a year earlier, and net income of $5.4 million, or $0.13 per diluted share, compared with $1.3 million, or $0.03, in the first quarter of 2025. The company expects second-quarter 2026 adjusted EBITDA to be modestly higher than both the first quarter of 2026 and the second quarter of 2025, though operating cash flow was an outflow of $26.9 million in the quarter.
Net sales of $308.3 million, up 10% from $280.5 million in the first quarter of 2025; net income of $5.4 million, or $0.13 per diluted share.
Adjusted EBITDA of $24.6 million, up 39% from $17.7 million in the first quarter of 2025.
Operating cash flow was an outflow of $26.9 million; cash and cash equivalents were $104.0 million as of March 31, 2026.
Second-quarter 2026 adjusted EBITDA is expected to be modestly higher than the first quarter of 2026 and the second quarter of 2025.
Metallus reported fourth-quarter 2025 net sales of $267.3 million and a net loss of $14.3 million, or $0.34 per diluted share, compared with a net loss of $21.4 million a year earlier and net income of $8.1 million in the third quarter of 2025. For full-year 2025, net sales rose 7% to $1.2 billion, but the company posted a net loss of $1.2 million, compared with net income of $1.3 million in 2024, and it expects first-quarter 2026 adjusted EBITDA to be higher than the fourth quarter.
Q4 2025 net sales of $267.3 million fell 13% from $305.9 million in Q3 2025 and rose 11% from $240.5 million in Q4 2024.
Q4 2025 net loss was $14.3 million, or $0.34 per diluted share, versus a net loss of $21.4 million, or $0.50 per share, in Q4 2024; adjusted net loss was $7.7 million, or $0.18 per share.
Full-year 2025 net loss was $1.2 million, or $0.03 per diluted share, versus net income of $1.3 million in 2024.
The company expects first-quarter 2026 shipments to increase approximately 10% from the fourth quarter and first-quarter adjusted EBITDA to be higher than Q4 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Metallus filing is on SEC EDGAR ↗. 8-K briefs of other companies →