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Metallus reported first-quarter 2024 net sales of $321.6 million, net income of $24.0 million, and adjusted EBITDA of $43.4 million. The company authorized a $100 million share repurchase program on May 6, 2024. Cash and cash equivalents balance was $278.1 million as of March 31, 2024. Operating cash flow was $33.4 million in the first quarter. The company expects second-quarter 2024 adjusted EBITDA to be lower than the first quarter due to various factors.
Metallus (NYSE: MTUS) announces the election of Melissa M. Miller, a seasoned industry professional, as a new independent director to its Board of Directors. Miller, currently serving as the Executive Vice President and Chief Human Resources Officer at Arconic , brings a wealth of experience in achieving growth targets through an engaged workforce and emphasizing integrity, safety, sustainability, and operational excellence. The company also re-elected existing directors for additional terms, with eleven directors now serving on the board.