Stock Track | METALLUS Plummets 5.25% as Q4 Earnings Disappoint

Stock Track

02-28

Shares of METALLUS (MTUS) plummeted 5.25% in intraday trading on Friday, after the company reported disappointing fourth-quarter earnings results.

The specialty metals and components manufacturer posted a quarterly adjusted loss of $0.08 per share for the period ended December 31, missing analysts' expectations for breakeven results. Revenue fell 26.7% year-over-year to $240.5 million, lower than the Wall Street consensus of $241.6 million.

METALLUS also reported a net loss of $21.4 million for the quarter, citing a challenging macroeconomic environment that weighed on demand across its industrial, automotive, and energy end-markets. The company's earnings missed analyst estimates for the third quarter in a row.

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