08.09.18
TimkenSteel Board of Directors Appoints Marvin Riley as Additional Independent Director
The board of directors of TimkenSteel Corporation (NYSE: TMST, timkensteel.com ), appointed Marvin Riley, chief operating officer of EnPro Industries, as a new independent director. Eleven directors now serve on the TimkenSteel board. "Marvin has been a leader in the automotive, energy and industrial industries and brings to the board valuable manufacturing and supply-chain insights," said Tim Timken, chairman, CEO and president of TimkenSteel. "In his current role, he's responsible for overseeing the manufacture of products critical to customer systems and equipment in more than 40 industries. His varied experience complements TimkenSteel's business well and adds further depth and breadth to our board." Prior to serving in his current role as COO at EnPro, Riley served in various other leadership positions, including president of its Fairbanks Morse division, focused on marine engines and power generation; vice president of the company's manufacturing function; vice president of...
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08.01.18
TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced it will increase prices on special bar quality (SBQ) bar products by $50 per ton. This increase is for orders not already covered by agreements, and effective with shipments beginning Sept. 3, 2018. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain and steel services. TimkenSteel operates warehouses and sales offices in five countries and has made its steel in America for more than 100 years. The company posted sales...
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07.26.18
TimkenSteel Announces Second-Quarter 2018 Results; Reports Increased Earnings
TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today reported second-quarter net sales of $413.5 million and net income of $8.4 million or $0.19 per diluted share. In the same quarter last year, net sales were $339.3 million with net income of $1.3 million or $0.03 per diluted share. First-quarter net sales were $380.8 million with a net loss of $1.9 million or minus $0.04 per share. EBITDA (1) for the second quarter was $30.9 million, which represents an increase from $24.7 million in the same quarter last year, and $21.3 million in the first quarter of 2018. "Our second-quarter performance was the result of continued market strength, better pricing and improved operating efficiencies, partially offset by higher levels of inflation in select consumables," said Tim Timken, chairman, CEO and president. "Those operational efficiencies at a time of increased demand resulted in our highest shipment quarter in more than six years....
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06.29.18
TimkenSteel's Endurance Steels Named American Metal Market's Best Product Innovation of the Year
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) a leader in customized alloy steel products and services, has earned the prestigious American Metal Market (AMM) Award for Steel Excellence in the "Best Innovation – Product" category for its Endurance family of ultra-high-strength, high-toughness steels. The company was recognized at AMM's awards ceremony on Tuesday, June 26 , in New York City . The AMM Awards for Steel Excellence recognize world-class innovation and excellence in steel and steel-related industries. Winners are selected by a panel of judges with extensive steel industry leadership experience. "We're honored and humbled to be part of such a distinguished group of industry innovators," said Ray Fryan, vice president of technology and quality. "Innovation has been a TimkenSteel core value since we were founded more than 100 years ago. The focus on making cleaner and better-performing steels to meet our customers' needs is something our company – and especially our team...
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06.25.18
TimkenSteel to Announce Second-Quarter 2018 Financial Results on July 26
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2018 second-quarter financial results on Thursday, July 26 , after the market closes on the New York Stock Exchange . The company will host a conference call at 9 a.m. ET on Friday, July 27 , to discuss its financial performance with investors and securities analysts. The financial results and conference call materials will be available online at investors.timkensteel.com . TimkenSteel Earnings Call Information: Conference Call Friday, July 27, 2018 9 a.m. ET Toll-free dial-in: 866-393-4306 International dial-in: 734-385-2616 Conference ID: 2188839 Conference Call Replay Replay dial-in available through August 3, 2018 855-859-2056 or 404-537-3406 Replay passcode: 2188839 About TimkenSteel Corporation TimkenSteel (NYSE: TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around...
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06.20.18
TimkenSteel to Increase Prices on Seamless Mechanical Tubing Products
TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced it will increase prices on seamless mechanical tubing (SMT) hot-rolled and single-thermal-treated products by $40 per ton, and on SMT quench-and-tempered products by $100 per ton. These increases are effective immediately with new orders received, and for all shipments beginning Oct. 1, 2018 . All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain and steel services. TimkenSteel operates warehouses and sales offices in...
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04.26.18
TimkenSteel Announces First-Quarter 2018 Results; Expects Continued Improvement in Second Quarter
TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today reported first-quarter net sales of $380.8 million , compared with net sales of $309.4 million in the same quarter last year and $341.4 million in the fourth quarter of 2017. The company reported a net loss of $1.9 million or minus $0.04 per share for the first quarter of 2018, compared with a net loss of $5.3 million or minus $0.12 per share in the same quarter last year, and a net loss of $33.9 million or minus $0.76 per share in the fourth quarter of 2017. EBITDA (1) for the first quarter was $21.3 million including $3.7 million of non-recurring costs, compared with EBITDA (1) of $17.5 million in the same quarter last year, and adjusted EBITDA (1) of $8.2 million in the fourth quarter of 2017. "The year is off to a good start. We improved lead times, reduced past-due orders, won new business for differentiated products and realized improvements in our financial performance,"...
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