The company reported third-quarter net sales of $305.9 million and net income of $8.1 million, or $0.19 per diluted share. In the same quarter of 2024, net sales totaled $227.2 million and net loss was $5.9 million, or $0.10 per diluted share.
The company's total shipments totaled 163,100 tons, down 4,600 tons sequentially, or 3 percent month-on-month, driven by lower supplies of energy and manufactured goods. Compared to the third quarter of 2024, shipments increased by 36 percent due to increased shipments to all end markets.
"We delivered strong results in yet another quarter, driven by sustained demand, improved operational performance, and a favorable product mix, supported by continued supply growth in the aerospace and defense industries," said Mike Williams, CEO of Metalllus. "Safety and operational excellence remain top priorities, and we see these efforts paying off both internally and externally. We were recently awarded the Safety Culture Improvement Award from the Institute of Metal Service Center in recognition of our collaborative approach to workplace safety. In addition, we recently completed most of our planned annual shutdown maintenance, which is crucial to ensure a confident start to 2026."
Williams continued: "As we approach the end of the year and begin planning for 2026, we continue to install new assets that will enhance our operational capabilities, and continue to work with our customers to provide both existing and new solutions, highlighting the growing demand for our domestic specialty steel. Our focus on the growing aerospace and defense industry continues to provide opportunities as we recently concluded new programs through 2026 with key customers. We remain committed to safely delivering sustainable profitability and cash flow in all market environments."
