Metallus reported 3Q26 revenue of $337.2M, up 10% y/y, while adjusted EBITDA increased 19% both sequentially and y/y to $34.5M and adjusted EPS improved to $0.35. Aerospace & defense remained the key mix driver, with sales increasing 41% y/y to $66.4M and the business reaching its $250M annualized sales run-rate target ahead of year-end. Management expects shipments under the initial $125M DLA order to begin in 2Q27 and ramp through the remainder of 2027, while stronger order visibility, anticipated contract pricing gains, and improved post-maintenance manufacturing performance support the FY27 outlook. For 4Q26, management expects normal seasonal shipment declines and maintenance-related pressure, with full-year adjusted EBITDA guidance maintained at $100M–$105M.