Ibc Advanced Alloys (IB) Lytham Partners Fall 2026 Investor Conference summary

Business and markets

• Vertically integrated U.S. copper-alloy producer with casting, hammer/press/ring-roll forging, heat treatment and machining capabilities; expanding into other alloys, including aluminum scandium.

• Defense and electronics have recently competed as the leading revenue markets; electronics demand has rebounded in recent months.

• Foundational business has grown 4%–6% annually over an extended period, serving established customers across a broad range of markets.

Copper outlook and positioning

• Management expects a copper super cycle from 2024 potentially through 2035, with U.S. consumption a key demand driver.

• Copper demand is forecast to rise 63% by 2035; management cited supply deficits and rising prices as supportive of revenue, earnings and cash flow.

• Margins are improving as precision copper products and bespoke customer alloys command higher prices and margins; raw copper and billet tariff exemptions have prevented an impact to date.

Growth plans

• Near-net-shape copper-alloy castings are gaining orders; parts can weigh up to 500 lb.

• A planned Vacuum Cap Furnace would enable gas-sensitive copper-nickel alloys and expanded Navy sales; estimated investment is $5 million, with ~$500,000 already spent on support infrastructure.

• A proposed Indiana radial forge would require $25 million and support downstream Navy products, including 1–6 inch wrought rounds, bars and hollows, with faster turnaround and inventory availability.