10.09.19
TimkenSteel Announces CEO Transition
Tim Timken Steps Down as Chief Executive Officer; Terry L. Dunlap Appointed as Interim Chief Executive Officer and President TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today announced that Ward J. "Tim" Timken, Jr. has stepped down as Chief Executive Officer and President and as Chairman of the TimkenSteel Board of Directors. Effective immediately, the Board of Directors has appointed Terry L. Dunlap as the Company's interim Chief Executive Officer and President. John P. Reilly, the current Lead Director of the TimkenSteel Board of Directors, will immediately assume the role of Chairman of the Board. "In an effort to revitalize both the near-term performance and long-term potential of TimkenSteel, now is the time for new leadership at the Company. While stepping down as CEO is not an easy decision, it has been a true privilege for me to lead TimkenSteel on its journey as an independent public company," said Tim Timken. "As a member of the...
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08.01.19
TimkenSteel Announces Second Quarter of 2019 Results
TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today reported 2019 second quarter net sales of $336.7 million and a net loss of $4.4 million or minus $0.10 per diluted share. In the same quarter last year, net sales were $413.5 million with net income of $8.4 million or $0.19 per diluted share. Adjusted EBITDA (1) for the second quarter of 2019 was $27.5 million, a decrease of $3.4 million over the same quarter last year. "Despite demand weakness in certain end markets, we continue to focus on expanding market share in our key markets while maintaining price and improving product mix," said Tim Timken, chairman, CEO and president. "During the quarter we continued to execute our profitability improvement plan which included cost reductions and restructuring in our technical and commercial organizations to further drive innovation and focus on our key growth areas such as value-added components, energy products and government business." SECOND...
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07.17.19
TimkenSteel to Announce Second-Quarter 2019 Financial Results on August 1
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2019 second-quarter financial results on Thursday, August 1, after the market closes on the New York Stock Exchange. The company will host a conference call at 10 a.m. ET on Friday, August 2 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, August 2, 2019 10 a.m. ET Toll-free dial-in: 833-238-7951 International dial-in: 647-689-4199 Conference ID: 3678588 Conference call replay Replay dial-in available through August 9, 2019 800-585-8367 or 416-621-4642 Replay passcode: 3678588 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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05.02.19
TimkenSteel Announces First-Quarter 2019 Results
- Delivers net income and EBITDA in line with guidance.
- Continues to improve product mix and price, driving gross margin expansion. TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today reported first-quarter 2019 net sales of $371 million and net income of $4.2 million or $0.09 per diluted share. In the same quarter last year, net sales were $381 million with a net loss of $1.9 million or minus $0.04 per diluted share. EBITDA (1) for first-quarter 2019 was $26.3 million, an increase of $5 million over the same quarter last year. "As anticipated, our performance strengthened in the first quarter, with continued expansion in gross margin and increased net income compared with the same quarter last year. We achieved these results by executing a strategy to sell a richer mix of products, improve price and deliver on time," said Tim Timken, chairman, CEO and president. "This commercial strategy combined with operational...
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04.04.19
TimkenSteel to Announce First-Quarter 2019 Financial Results on May 2
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2019 first-quarter financial results on Thursday, May 2, after the market closes on the New York Stock Exchange. The company will host a conference call at 9 a.m. ET on Friday, May 3 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, May 3, 2019 9 a.m. ET Toll-free dial-in: 833-238-7951 International dial-in: 647-689-4199 Conference ID: 1359506 Conference call replay Replay dial-in available through May 10, 2019 800-585-8367 or 416-621-4642 Replay passcode: 1359506 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...
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03.27.19
TimkenSteel Publishes New Sustainability Policy
Policy outlines company's longstanding sustainability priorities and goals around cultural leadership, environmental stewardship and economic impact TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today published a sustainability policy that highlights its ongoing commitment to transparency and long-term prosperity. The policy follows the release of the annual report to shareholders and proxy statement, both of which provide a holistic look at the company. The company formed a cross-functional sustainability committee in 2018 to create the policy as a single statement to encompass the collection of sustainability policies the company has had in place since its formation. Those policies have led to industry-leading performance in areas such as safety, environmental responsibility, governance, risk management, employee engagement and community support. The newly published comprehensive policy also documents goals and objectives...
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02.20.19
TimkenSteel Announces Fourth-Quarter, Full-Year 2018 Results; Exceeds Guidance for Quarter
- Fourth-quarter net sales increased 19 percent year over year with improved product mix, higher prices and increased volume
- Company positioned to deliver earnings growth in 2019 TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today reported fourth-quarter 2018 net sales of $406 million and a net loss of $40 million or minus $0.89 per diluted share. In the same quarter last year, net sales were $341 million with a net loss of $34 million or minus $0.76 per diluted share. Adjusted EBITDA (1) for fourth-quarter 2018 was $26.7 million, an increase of $19 million over the same quarter last year. For full-year 2018, net sales were $1.6 billion with a net loss of $32 million. In comparison, full-year 2017 net sales were $1.3 billion with a net loss of $44 million. Adjusted EBITDA (1) for full-year 2018 was $105 million, compared with $69 million in the prior year. The year-over-year increase in adjusted EBITDA was driven...
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