09.24.21
TimkenSteel and The United Steelworkers (USW) Local 1123 Agree to Extend Contract
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, and the United Steelworkers (USW) Local 1123 have jointly agreed to extend their contract, which expires on Monday, September 27, 2021. The two-week extension will allow negotiations to continue as both sides work toward a mutually acceptable agreement. The extension will expire on Monday, October 11, 2021. "Negotiations are moving forward constructively," said Mike Williams, president and CEO. "TimkenSteel remains committed to reaching an agreement that supports the company's objectives and continues to position us as one of the area's best employers." The current agreement covers approximately 1,180 bargaining employees at the company's Canton, Ohio operations. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap materials in Canton, OH, serving demanding applications in...
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08.12.21
TimkenSteel Elects Two New Independent Directors
TimkenSteel Corp. (NYSE: TMST) – The board of directors of TimkenSteel Corporation, today elected Ken Garcia, executive fellow of Q2 Software, Inc., and Ellis Jones, vice president of global environmental, health, safety, sustainability and business continuity with The Goodyear Tire and Rubber Company, as new independent directors. They join eight directors currently serving on the TimkenSteel board. "Both Ellis and Ken are proven leaders who possess broad and deep experience within their areas of expertise," said Ron Rice, chairman of TimkenSteel's board. "Their varied experiences, which are rooted in optimizing organizational performance, complement TimkenSteel's strategic priorities and strengthen the board's shared knowledge in several key areas of emphasis." Garcia is a proven entrepreneur whose expertise encompasses business and product development, marketing, technology, legal, finance and M&A transactions. In his current role, he assists Q2 Software's board of directors...
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08.09.21
TimkenSteel to Increase Prices on Special Bar Quality and Seamless Mechanical Tubing Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $60 per ton. This increase is effective for shipments beginning September 6, 2021. The company also announced it will increase prices on all carbon and alloy seamless mechanical tubing (SMT) products by $60 per ton. SMT increases are effective for shipments beginning January 3, 2022. All increases are applicable to orders not already covered by pricing agreements and surcharge mechanisms remain in effect. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, 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 making high-quality...
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08.05.21
TimkenSteel Announces Second-Quarter 2021 Results
- Net sales of $327.3 million increased 20 percent sequentially on continued strength in industrial end-market demand
- Record profitability with net income of $54.0 million and adjusted EBITDA(1) of $71.0 million
- Operating cash flow of $39.2 million resulted in further expansion of total liquidity(2) TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported second-quarter 2021 net sales of $327.3 million and net income of $54.0 million, or $0.98 per diluted share. On an adjusted basis (1) , second-quarter 2021 net income was $52.5 million, or $0.96 per diluted share, and adjusted EBITDA was $71.0 million. In the same quarter last year, net sales were $154.0 million with a net loss of $15.3 million, or a loss of $0.34 per diluted share. On an adjusted basis (1) , second-quarter 2020 net loss was $14.3 million, or a loss of $0.31 per diluted share, and adjusted EBITDA was $5.7 million....
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07.22.21
TimkenSteel Announces Second-Quarter Fiscal 2021 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST) will release its 2021 second-quarter financial results on Thursday, August 5, 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 6, 2021 at 9:00 a.m. ET. 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 in Canton, OH serving demanding applications in automotive, 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 precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise...
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06.10.21
TimkenSteel and United Steelworkers Local 1123 to Begin Contract Discussions on August 9
TimkenSteel (NYSE: TMST) ( timkensteel.com ) and the United Steelworkers will begin discussions on August 9 regarding the current labor agreement that is set to expire on September 27. The current agreement covers approximately 1,180 bargaining employees at the company's Canton, Ohio operations. "Our goal is to reach a fair, equitable agreement that supports the company's vision and provides job security for our employees," said Mike Williams, president and CEO. "We hope to reach a timely agreement as our industry and customers endure rapidly changing market dynamics, and our company continues to focus on achieving sustainable profitability through all cycles while operating safely and responsibly each and every day." Consistent with prior practice, the company will reserve further comment until discussions are complete, although periodic updates will be posted on www.timkensteel.com/agreement . About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance...
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06.04.21
TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $50 per ton. This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning July 5, 2021. All surcharge mechanisms remain in effect. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, 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 precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 2,000 people and had sales of...
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