Earnings call transcript: Elmet Group posts strong Q3 2026 growth, shares rise
Elmet Group reported strong third-quarter 2026 earnings, with revenue increasing 55.6% to $79.6 million from $51.1 million a year earlier. Adjusted earnings per share reached $0.35, up from $0.23, while gross margin expanded to 31.3% from 21.7%. The company attributed the growth to higher tungsten and molybdenum prices, stronger demand in aerospace, defense, government, industrial, medical and semiconductor markets, and operational improvements.
Elmet's backlog jumped to $347.4 million from $131.5 million, reflecting a positive investor response. Management highlighted strategic investments in defense and a $450 million Department of War investment. The company is building a more integrated critical materials platform, including a new refining and trading unit and expansion into Europe.
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