Filing Flows › Metallus (MTUS) › Q2 2026 › vs Q1 2026
Metallus (MTUS) Q2 2026 vs Q1 2026 (quarter over quarter)
Metallus's revenue rose $32.7M (+11%) from $308M in Q1 2026 to $341M in Q2 2026. The biggest changes: Special Bar Quality Bars +$20.2M (+10%); Manufactured Components +$8.2M (+12%); Seamless Mechanical Tubing +$2.6M (+8%). Gross margin 10.0% against 8.1% (+1.9 pts).
Metallus, Q2 2026: revenue $341M (+12% year over year), operating margin 3.5%, net earnings $8.9M, operating cash flow $12.8M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 10.0% | 8.1% | +1.9 pts |
| Operating margin | 3.5% | 2.6% | +0.9 pts |
| Net margin | 2.6% | 1.8% | +0.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Special Bar Quality Bars | $221M | $201M | $20.2M | +10% |
| Manufactured Components | $77.9M | $69.7M | $8.2M | +12% |
| Seamless Mechanical Tubing | $35.6M | $33.0M | $2.6M | +8% |
| Other Products | $6.4M | $4.7M | $1.7M | +36% |
| Revenue | $341M | $308M | $32.7M | +11% |
| Gross profit | $34.1M | $25.1M | $9.0M | +36% |
| Cost of revenue | $307M | $283M | $23.7M | +8% |
| Operating profit | $11.9M | $8.0M | $3.9M | +49% |
| Operating expenses | $22.2M | $17.1M | $5.1M | +30% |
| Pre-tax earnings | $11.9M | $8.0M | $3.9M | +49% |
| Net earnings | $8.9M | $5.4M | $3.5M | +65% |
| Income tax | $3.0M | $2.6M | $400K | +15% |
| Operating cash sources | $25.6M | $22.4M | $3.2M | +14% |
| Depreciation & amortization | $13.4M | $13.7M | −$300K | -2% |
| Share-based compensation | $3.3M | $3.3M | $0 | 0% |
| Working capital & other | $12.8M | $49.3M | −$36.5M | -74% |
| Operating cash flow | $12.8M | −$26.9M | $39.7M | — |
| Capital expenditures | $15.2M | $24.7M | −$9.5M | -38% |
| Negative free cash flow (OCF − capex) | $2.4M | $51.6M | −$49.2M | -95% |
Questions
How much did Metallus's revenue grow quarter over quarter in Q2 2026?
Metallus's revenue rose $32.7M (+11%) from $308M in Q1 2026 to $341M in Q2 2026.
What drove Metallus's revenue change in Q2 2026?
Special Bar Quality Bars +$20.2M (+10%); Manufactured Components +$8.2M (+12%); Seamless Mechanical Tubing +$2.6M (+8%).