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Revenue Recognition
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

Note 5 - Revenue Recognition

The following table provides the major sources of revenue by end-market sector for the three months ended March 31, 2025 and 2024:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Industrial

 

$

101.7

 

 

$

118.9

 

Automotive

 

 

113.2

 

 

 

122.9

 

Aerospace & Defense

 

 

32.5

 

 

 

46.3

 

Energy

 

 

28.7

 

 

 

28.0

 

Other (1)

 

 

4.4

 

 

 

5.5

 

Total Net Sales

 

$

280.5

 

 

$

321.6

 

 

(1) “Other” sales by end-market includes the Company’s scrap sales.

The following table provides the major sources of revenue by product type for the three months ended March 31, 2025 and 2024:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Bar

 

$

166.0

 

 

$

193.9

 

Tube

 

 

31.4

 

 

 

47.8

 

Manufactured components

 

 

78.7

 

 

 

74.4

 

Other (2)

 

 

4.4

 

 

 

5.5

 

Total Net Sales

 

$

280.5

 

 

$

321.6

 

(2) “Other” sales by product type relates to the Company’s scrap sales.

 

Contract liabilities are recognized when the Company has received consideration from a customer to transfer goods at a future point in time. Contract liabilities are primarily related to deferred revenue resulting from any cash payments received in advance of shipment to customers and are included in other current liabilities on the Consolidated Balance Sheets. Contract liabilities totaled $0.2 million and $0.7 million as of March 31, 2025 and 2024, respectively.