Chris Olin

Dave Storms

John Franzreb

- Metallus and the United Steelworkers (USW) Local 1123 have reached a **tentative agreement** for a new **four-year contract**.  **[1598428_20251003CL90343:0]** 
- The agreement covers approximately **1,200 bargaining employees** at Metallus's Canton, Ohio operations.  **[1598428_20251003CL90343:0]** 
- Metallus CEO Mike Williams stated that the agreement ensures competitive wages and benefits for employees while supporting the company's long-term strategy and growth objectives.  **[1598428_20251003CL90343:0]**

Metallus and United Steelworkers Local 1123 Reach Tentative Contract Agreement

- Metallus reported strong **Q2 2025 financial results** with **net sales over $300 million** and the **highest adjusted EBITDA in over a year**, driven by higher shipments.  **[1598428_tx_375160_4]** 
- The company is strategically expanding into **aerospace and defense**, having received over **$80 million** in government funding from a **$100 million contract** to increase capacity for 155mm shells, targeting **$250 million in sales** to this market by 2026.  **[1598428_tx_375160_2]**  Additionally, Metallus is targeting **$30 million in sales** in 2025 from its new **vacuum arc remelt steel** products.  **[1598428_tx_375160_3]** 
- For Q3 2025, shipments are expected to be similar to Q2, but the company anticipates cost headwinds including **$5 million** in planned shutdown costs and **$2-3 million** in higher electricity costs, alongside non-recurring labor negotiation costs of **$3-5 million** in H2 2025.  **[1598428_tx_375160_4]** 
- Metallus maintains a strong balance sheet with **$250-300 million in liquidity** and has an active share buyback authorization with **over $93 million remaining**.  **[1598428_tx_375160_5]**

Metallus (MTUS)