The Elmet Group Co. Reports Third Quarter 2026 Results
Globe Newswire•09/11/2026•16:05 ET
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Key Highlights
- ➤Q3 revenue $79.6 million, up 55.6% year over year
- ➤Adjusted EBITDA $17.0 million, up 129.4% year over year
- ➤Open-order backlog $347.4 million, up 298% year over year
- ➤Department of War committed $450 million to secure tungsten supply chain
- ➤Elmet plans $165 million investment to expand U.S. manufacturing capacity
Expert Statements
Peter V. Anania, CEO of The Elmet Group Co.
“The last few months have been nothing short of transformational for Elmet”
Peter V. Anania, CEO of The Elmet Group Co.
“Through the Department of War’s landmark $450 million committed investment (the “DoW Investment”) and up to $2 billion long-term framework agreement with the Defense Logistics Agency (the “DLA Agreement”), we now have significant resources and financial commitments that will allow us to build a more integrated platform that expands domestic tungsten capabilities all the way from raw material sourcing through advanced manufacturing.”
Peter V. Anania, CEO of The Elmet Group Co.
“With this capital and expanded strategy, we’ve already taken several material steps to realize our vision.”
Peter V. Anania, CEO of The Elmet Group Co.
“Looking at our results for the quarter, we grew revenue 55.6% to a Company record $79.6 million, driven by increased demand across all major end markets as well as the ongoing positive impact from increased raw material pricing.”
Peter V. Anania, CEO of The Elmet Group Co.
“Our Company record firm order backlog at quarter end gives us increasing visibility into future performance as well as confidence in the sustainability of current demand.”
Peter V. Anania, CEO of The Elmet Group Co.
“We believe we are operating at a time of unprecedented realignment, which presents a significant opportunity for us to grow the business given our exceptional positioning.”
Peter V. Anania, CEO of The Elmet Group Co.
“The third quarter was a pivotal step forward in our mission to capitalize on the significant opportunities ahead.”
Continued demand accelerating in Aerospace, Defense & Government markets
Revenue increased over 55%, with over 960 basis points of gross profit margin expansion to 31.3% driving adjusted EBITDA increase of approximately 129% to 21.7%
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