Metallus Inc (MTUS)

Pretax margin

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	108,200	96,400	88,400	41,200	77,300	97,100	162,100	225,300	204,700	176,700	103,800	39,600	-30,900	-60,700	-140,900	-149,800	-149,500	-126,100	-62,500	-33,900
Revenue (ttm)	US$ in thousands	1,350,100	1,329,300	1,232,100	1,191,500	1,223,800	1,253,800	1,374,100	1,401,200	1,337,600	1,275,500	1,151,000	1,011,500	836,600	821,400	837,100	904,500	1,086,500	1,196,700	1,376,200	1,511,300
Pretax margin		8.01%	7.25%	7.17%	3.46%	6.32%	7.74%	11.80%	16.08%	15.30%	13.85%	9.02%	3.91%	-3.69%	-7.39%	-16.83%	-16.56%	-13.76%	-10.54%	-4.54%	-2.24%

March 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $108,200K ÷ $1,350,100K
= 8.01%

The pretax margin for Metallus Inc has shown fluctuations over the past few quarters. It started the period with a negative pretax margin in Q1 2020 and Q2 2020, indicating that the company was operating at a loss before accounting for taxes during that time. However, there has been an improvement in the pretax margin since then, with positive figures recorded in subsequent quarters.

The pretax margin gradually increased from Q3 2020 to Q2 2022, reaching a peak of 16.08% in Q2 2022. This suggests that the company was able to effectively control its operating expenses and generate stronger operating profits relative to its revenues during this period.

However, there was a significant decline in the pretax margin from Q2 2022 to Q3 2022, dropping to 11.80%. This decline continued in the following quarters, with the pretax margin reaching its lowest point of 3.46% in Q2 2023.

There was a slight improvement in the pretax margin in Q3 2023 and Q4 2023, but it remained relatively lower compared to the peak levels seen in Q2 2022. The pretax margin for Q1 2024 stands at 8.01%, indicating a moderate recovery in profitability compared to the previous quarters.

Overall, the pretax margin trend for Metallus Inc shows fluctuations and variability in profitability levels. It is essential for the company to continue monitoring and managing its operating expenses and revenue generation to sustain and improve its pretax margin in the future.