10.25.18
TimkenSteel Announces Third-Quarter 2018 Results
- Delivers net income in-line with guidance; exceeds Adjusted EBITDA(1) expectations
- Third-quarter net sales increased 21 percent year over year with improved product mix
- Positioned to deliver continued earnings growth in 2019 TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today reported third-quarter 2018 net sales of $409.9 million and net income of $1.4 million or $0.03 per diluted share. In the same quarter last year, net sales were $339.1 million with a net loss of $5.9 million or minus $0.13 per diluted share. Adjusted EBITDA (1) for the third quarter was $26.5 million, an increase of $7.7 million over the same quarter last year. "We continue to build on our position as a leader in special bar quality steel to deliver a richer mix of products, and the third quarter demonstrated good results in that regard. Operational performance remains focused on safety and improved delivery," said Tim Timken, chairman, CEO...
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10.01.18
TimkenSteel to Announce Third-Quarter 2018 Financial Results on October 25
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2018 third-quarter financial results on Thursday, Oct. 25, after the market closes on the New York Stock Exchange. The company will host a conference call at 9 a.m. ET on Friday, Oct. 26 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, Oct. 26 , 2018 9 a.m. ET Toll-free dial-in: 833-238-7951 International dial-in: 647-689-4199 Conference ID: 7083359 Conference Call Replay Replay dial-in available through Nov. 2, 2018 800-585-8367 or 416-621-4642 Replay passcode: 7083359 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...
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09.21.18
TimkenSteel names Kristopher R. Westbrooks as new CFO; Announces departure of current CFO
TimkenSteel Corporation (NYSE: TMST, timkensteel.com ) has named Kristopher R. Westbrooks as executive vice president and chief financial officer to succeed current CFO Christopher J. Holding, who is leaving the company, effective September 23, 2018. Westbrooks will join the company in this new role on September 24, 2018. Westbrooks was most recently with A. Schulman, Inc., where he served as vice president, chief accounting officer and corporate controller responsible for leading the integration of A. Schulman's recently completed merger with LyondellBasell. "Kris brings deep financial and accounting experience to TimkenSteel and will help accelerate our efforts to generate more profitable growth and drive greater shareholder value," said Tim Timken, chairman, CEO and president. "I'd like to extend my thanks to Chris Holding for his contributions in launching TimkenSteel as a public company and building a strong finance team here." Westbrooks had been with A. Schulman, an...
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08.21.18
TimkenSteel Named One of Best Places to Work; Also Receives NorthCoast 99 Award for Compensation Plan
TimkenSteel Corporation (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, has been named by the Employer's Resource Council (ERC) as one of the Top 99 workplaces in Northeast Ohio, and also received this year's special award in the Compensation category. "When people ask why TimkenSteel is a great place to work, most of us give the same answer: We're proud to work where a set of core values drives every decision and where our efforts help customers solve their most complex challenges," said Elaine Russell Reolfi, executive vice president of organizational advancement and corporate relations. "In the last four years, we've worked hard to align our policies, processes and people programs with the goal of becoming not just a good place to work, but the safest and best place to work. That takes a team effort across the company, and we're pleased to have our progress on that journey recognized by NorthCoast 99." NorthCoast 99 is in its 20th year of...
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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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