Metallus, Inc

Metallus has been awarded a single-award, firm-fixed-price Indefinite Delivery/Indefinite Quantity contract by the U.S. Defense Logistics Agency to supply steel for critical defense applications, with a maximum ceiling of $995 million over a five-year ordering period. The ceiling represents the maximum amount the DLA may order over the contract term and is not a commitment to purchase that amount. On September 29, 2026, Metallus received an initial delivery order under the contract valued at approximately $125 million, and the company has up to 24 months to fulfill each delivery order. Chief executive officer Mike Williams said the award and initial order mark another key step in the continued transformation of Metallus and reflect the company's proven ability to produce specialty steel that meets the rigorous performance, quality and traceability requirements of critical defense applications. Metallus, based in Canton, Ohio, employs approximately 1,850 people and had sales of $1.2 billion in 2025.

Metallus has been awarded a U.S. defense contract worth up to a maximum of $995M for High Fragmentation 1 Steel. The five-year contract runs through Sept. 24, 2031, and carries no option periods. Funding comes from fiscal 2025–2029 transaction funds under the contract, with the DLA Contracting Services Office serving as the contracting activity.

Metallus reported second-quarter sales rose 12% year over year to $341 million, while adjusted EBITDA increased 9% to $29 million. The company said its order book increased more than 50% from a year earlier, driven by record aerospace and defense shipments and sales, and it reaffirmed its target of at least a $250 million annualized aerospace-and-defense revenue run rate by the end of 2026. Net income was $8.9 million, or $0.21 per diluted share, and adjusted net income was $11.1 million, or $0.26 per diluted share. For the third quarter, Metallus expects adjusted EBITDA to be slightly higher sequentially and year over year, supported by better pricing and mix, while total liquidity stood at $395 million with no outstanding borrowings.