Filing Flows › Metallus (MTUS) › Q2 2026 › vs Q2 2025
Metallus (MTUS) Q2 2026 vs Q2 2025 (year over year)
Metallus's revenue rose $36.4M (+12%) from $305M in Q2 2025 to $341M in Q2 2026. The biggest changes: Special Bar Quality Bars +$34.8M (+19%); Manufactured Components −$2.5M (-3%); Seamless Mechanical Tubing +$2.2M (+7%). Gross margin 10.0% against 10.6% (-0.6 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 10.0% | 10.6% | -0.6 pts |
| Operating margin | 3.5% | 2.8% | +0.7 pts |
| Net margin | 2.6% | 1.2% | +1.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Special Bar Quality Bars | $221M | $186M | $34.8M | +19% |
| Manufactured Components | $77.9M | $80.4M | −$2.5M | -3% |
| Seamless Mechanical Tubing | $35.6M | $33.4M | $2.2M | +7% |
| Other Products | $6.4M | $4.5M | $1.9M | +42% |
| Revenue | $341M | $305M | $36.4M | +12% |
| Gross profit | $34.1M | $32.2M | $1.9M | +6% |
| Cost of revenue | $307M | $272M | $34.5M | +13% |
| Operating profit | $11.9M | $8.6M | $3.3M | +38% |
| Operating expenses | $22.2M | $23.6M | −$1.4M | -6% |
| Pre-tax earnings | $11.9M | $8.6M | $3.3M | +38% |
| Net earnings | $8.9M | $3.7M | $5.2M | +141% |
| Income tax | $3.0M | $4.9M | −$1.9M | -39% |
| Operating cash sources | $25.6M | $21.5M | $4.1M | +19% |
| Depreciation & amortization | $13.4M | $14.1M | −$700K | -5% |
| Share-based compensation | $3.3M | $3.7M | −$400K | -11% |
| Working capital & other | $12.8M | −$13.3M | $26.1M | — |
| Operating cash flow | $12.8M | $34.8M | −$22.0M | -63% |
| Capital expenditures | $15.2M | $17.8M | −$2.6M | -15% |
| Negative free cash flow (OCF − capex) | $2.4M | −$17.0M | $19.4M | — |
Questions
How much did Metallus's revenue grow year over year in Q2 2026?
Metallus's revenue rose $36.4M (+12%) from $305M in Q2 2025 to $341M in Q2 2026.
What drove Metallus's revenue change in Q2 2026?
Special Bar Quality Bars +$34.8M (+19%); Manufactured Components −$2.5M (-3%); Seamless Mechanical Tubing +$2.2M (+7%).