Metallus Inc. Revenue Disclosure
Note 4 - Revenue Recognition
The following table provides the major sources of revenue by end-market for the years ended December 31, 2025, 2024 and 2023:
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Industrial |
|
$ |
408.1 |
|
|
|
390.5 |
|
|
|
533.3 |
|
Automotive |
|
|
472.3 |
|
|
|
452.3 |
|
|
531.9 |
|
|
Aerospace and Defense |
|
|
161.4 |
|
|
|
134.9 |
|
|
|
115.0 |
|
Energy |
|
|
99.4 |
|
|
|
87.3 |
|
|
160.4 |
|
|
Other(1) |
|
|
17.1 |
|
|
|
19.0 |
|
|
21.8 |
|
|
Total Net Sales |
|
$ |
1,158.3 |
|
|
$ |
1,084.0 |
|
|
$ |
1,362.4 |
|
(1) “Other” sales by end-market includes the Company’s scrap sales.
The following table provides the major sources of revenue by product type for the years ended December 31, 2025, 2024 and 2023:
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Bar |
|
$ |
702.6 |
|
|
$ |
641.8 |
|
|
$ |
917.1 |
|
Tube |
|
|
126.4 |
|
|
|
139.1 |
|
|
|
170.1 |
|
Manufactured components |
|
|
312.2 |
|
|
|
284.1 |
|
|
|
253.4 |
|
Other(2) |
|
|
17.1 |
|
|
|
19.0 |
|
|
|
21.8 |
|
Total Net Sales |
|
$ |
1,158.3 |
|
|
$ |
1,084.0 |
|
|
$ |
1,362.4 |
|
(2) “Other” for sales by product type relates to the Company’s scrap sales.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 20, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.