08.04.22
TimkenSteel Announces Second-Quarter 2022 Results
Net sales of $415.7 million reflects continued strength in customer demand, higher base prices and an increase in raw material surcharges Net income of $74.5 million with record adjusted EBITDA(1) of $84.2 million Strong operating cash flow of $50.7 million TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported second-quarter 2022 net sales of $415.7 million and net income of $74.5 million, or $1.42 per diluted share. On an adjusted basis (1) , second-quarter 2022 net income was $67.4 million, or $1.29 per diluted share, and adjusted EBITDA was a record $84.2 million. This compares with the company's sequential first-quarter 2022 net sales of $352.0 million and net income of $37.1 million, or $0.70 per diluted share. On an adjusted basis (1) , first-quarter 2022 net income was $48.6 million, or $0.92 per diluted share, and adjusted EBITDA was $65.3 million. In the same quarter last year, net sales were...
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07.21.22
TimkenSteel Announces Second-Quarter 2022 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, will release its 2022 second-quarter financial results on Thursday, August 4, after the market closes on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, August 5, 2022, at 9:00 a.m. EDT. The live conference call will be broadcast at investors.timkensteel.com . A replay of the conference call will also be available at investors.timkensteel.com . ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap metal in Canton, OH, serving demanding applications in mobile, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of...
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07.13.22
TimkenSteel to Purchase Group Annuity Contract for Retiree Pension Benefits
TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, on July 7, 2022, entered into an agreement to purchase a group annuity contract from The Prudential Insurance Company of America ("Prudential") to settle approximately $250 million of the company's approximate $800 million in U.S. pension obligations under the TimkenSteel Corporation Bargaining Unit Pension Plan (the "Pension Plan"). In connection with the agreement, Prudential will pay future benefits under the group annuity contract starting October 1, 2022, for a specified group of approximately 1,900 retirees and beneficiaries who are currently receiving payments from the Pension Plan. Prudential is a highly rated insurance company and was selected by the Pension Plan's fiduciary, with the advice of an independent expert. "Prudential was carefully selected as a highly rated and experienced retirement benefits provider," said Kristopher R. Westbrooks,...
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05.04.22
TimkenSteel Announces First-Quarter 2022 Results
Net sales of $352.0 million in the first quarter reflect strength in customer demand and higher base prices Net income of $37.1 million with adjusted EBITDA(1) of $65.3 million Operating cash flow of $13.3 million TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported first-quarter 2022 net sales of $352.0 million and net income of $37.1 million, or $0.70 per diluted share. On an adjusted basis (1) , first-quarter 2022 net income was $48.6 million, or $0.92 per diluted share, and adjusted EBITDA was $65.3 million. This compares with fourth-quarter 2021 net sales of $338.3 million and net income of $57.1 million, or $1.07 per diluted share. On an adjusted basis (1) , fourth-quarter 2021 net income was $42.3 million, or $0.80 per diluted share, and adjusted EBITDA was $62.1 million. In the same quarter last year, net sales were $273.6 million with net income of $9.8 million, or $0.20 per diluted share. On...
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04.21.22
TimkenSteel Publishes Inaugural Sustainability Report
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, today released its inaugural sustainability report, which is available at https://timkensteel.com/who-we-are/Sustainability . The 2021 Sustainability Report demonstrates the company's commitment to operate responsibly and sustainably. It highlights progress on key initiatives and programs that support the company's three sustainability pillars: Environmental Stewardship, Social Commitment, and Governance and Ethics. The report shares TimkenSteel's continued progress toward its 2030 environmental goals related to reductions in greenhouse gas emissions, energy consumption, fresh water usage, and waste, which were established in October 2021. The report's theme: "At Our Core – Strong. Sustainable. Steel." reflects how the company continues to embrace sustainability as a fundamental consideration in its daily operations and overall vision. As a steel company with...
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04.20.22
TimkenSteel Announces First-Quarter 2022 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, will release its 2022 first-quarter financial results on Wednesday, May 4, after the market closes on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Thursday, May 5, 2022, at 9:00 a.m. EDT. The live conference call will be broadcast at investors.timkensteel.com . A replay of the conference call will also be available at investors.timkensteel.com . ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap metal in Canton, OH, serving demanding applications in mobile, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of...
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02.24.22
TimkenSteel Announces Fourth-Quarter and Full-Year 2021 Results
- Net sales of $338.3 million in the fourth-quarter and $1.3 billion for the full-year reflect strength in customer demand
- Fourth-quarter net income of $57.1 million and $171.0 million for the full-year with adjusted EBITDA(1) of $62.1 million in the fourth-quarter and $245.9 million for the full-year
- Full-year 2021 operating cash flow of $196.9 million, including $90.7 million in the fourth-quarter TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported fourth-quarter 2021 net sales of $338.3 million and net income of $57.1 million, or $1.07 per diluted share. On an adjusted basis (1) , fourth-quarter 2021 net income was $42.3 million, or $0.80 per diluted share, and adjusted EBITDA was $62.1 million. Third-quarter 2021 net sales were $343.7 million with net income of $50.1 million, or $0.94 per diluted share. On an adjusted basis (1) , third-quarter 2021 net income was $55.2 million, or...
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