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04.27.17 TimkenSteel Announces First-Quarter 2017 Results; Shipments Increase with Growing Demand
TimkenSteel (NYSE: TMST) (timkensteel.com), a leader in customized alloy steel products and services, today reported first-quarter net sales of $309 .4 million and a net loss of $5.3 million or minus 12 cents per share.  This compares with net sales of $217.9 million and a net loss of $9.7 million or minus 22 cents per share in the same quarter last year, and net sales of $214.7 million and a net loss of $67.0 million or minus $1.52 per share in the fourth quarter of 2016. As noted previously, fourth-quarter 2016 results included $59.3 million in expense from mark-to-market accounting for pension and other post-employment benefit plans. EBITDA (1) for the first quarter was $17.5 million , compared with EBITDA (1) of $4.6 million in the same quarter last year and adjusted EBITDA (1) of $1.4 million in the fourth quarter 2016.  The improvement was driven primarily by the favorable timing impact from raw material spread, focused execution of cost reduction tactics and additional volume....
04.26.17 TimkenSteel to Increase Prices on Special Bar Quality Products
CANTON, Ohio: April 25, 2017 — 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) products by $40 per ton. This increase is applicable to orders not already covered by pricing agreements, and effective for shipments beginning June 5, 2017. 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 all of its steel in America...
04.13.17 TimkenSteel Corporation Announces Preliminary Results for First-Quarter 2017
TimkenSteel (NYSE: TMST) (timkensteel.com), a leader in customized alloy steel products and services, today reported that it expects first-quarter net sales of approximately $309 million on 280,000 ship tons and a net loss of approximately $5 million , as compared with fourth-quarter 2016 net sales of $215 million and a net loss of $67 million. The company expects EBITDA for the quarter to be approximately $17 million , which is lower than its original guidance.  TimkenSteel will release full financial results for the first quarter on Thursday, April 27 . "Quarter-over-quarter sales have increased by about 45 percent primarily due to increasing demand and new business. The sequential improvement in structural EBITDA was about $15 million, which is significant, although below our original expectations due to the timing of capturing manufacturing leverage," said Tim Timken, chairman, CEO and president. "As we ramp production, we're hiring to increase capacity to serve rebounding demand...
04.12.17 TimkenSteel Receives API-5CT Certification to Better Serve Customers in Oil and Gas Industry
TimkenSteel has added another quality certification to its list of credentials, receiving its American Petroleum Institute (API) Q1 certification in March. In addition, API has granted the company a license to apply the API 5CT monogram / number on TimkenSteel's alloyed seamless mechanical tubing products that fully comply with the specification requirements defined in API 5CT. The certification, which is one of the most prestigious in the oil and gas industry, will give customers added assurance that TimkenSteel tubular products bearing the API-5CT monogram have been manufactured and tested to withstand the rigorous demands presented by the harsh environments of the oilfield. "TimkenSteel provides customers with 100 percent made-to-order steel to meet their most demanding applications," said Ray Fryan, TimkenSteel's vice president of technology and quality. "We were already a single point for material, heat treat, machining and testing. Now, with the API Q1 certification and 5CT...
04.04.17 TimkenSteel to Announce First-Quarter 2017 Financial Results on April 27
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2017 first-quarter financial results on Thursday, April 27 , after the market closes on the New York Stock Exchange . The company will host a conference call at 9 a.m. EDT on Friday, April 28, 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, April 28, 2017 9 a.m. EDT Toll-free dial-in: 877-201-0168 International dial-in: 647-788-4901 Conference ID: 3228265 Conference Call Replay Replay dial-in available through May 12, 2017 800-585-8367 or 416-621-4642 Replay passcode:  3228265 Live Webcast investors.timkensteel.com 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...
02.16.17 TimkenSteel Announces Fourth-Quarter and Full-Year 2016 Results
TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today reported fourth-quarter net sales of $214.7 million and a net loss of $67 .0 million or minus $1.52 per share.  This compares with net sales of $206.6 million and a net loss of $13.8 million or minus 31 cents per share in the same quarter last year, and net sales of $213.8 million and a net loss of $22.2 million or minus 50 cents per share in the third quarter of 2016. For the full year, net sales were $869.5 million and net loss was $105.5 million or minus $2.39 per share. This compares with net sales of $1,106.2 million and a net loss of $45.0 million or minus $1.01 per share for full-year 2015. Fourth-quarter and full-year 2016 results include the impact of the adoption of the mark-to-market method of accounting for pension and other post-employment benefit (OPEB) plans.  This method recognizes actuarial gains or losses in the year incurred rather than amortizing them over...
02.16.17 TimkenSteel to Increase Prices on Special Bar Quality, Seamless Mechanical Tubing Products
CANTON, Ohio: Feb. 16, 2017 — 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) and seamless mechanical tubing products by $30 per ton. These increases are for orders not already covered by pricing agreements and effective on shipments beginning April 3, 2017. 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 all of...
01.12.17 TimkenSteel Adopts Mark-to-Market Reporting of Pension and OPEB Plans
- Change allows for more transparent reporting of annual operating results. - Net impact of this change is estimated to decrease the company's 2016 operating results by approximately $25 million to $35 million (after-tax). - Fourth-quarter and year-end 2016 earnings call scheduled for Friday, Feb. 17. TimkenSteel Corp. (NYSE: TMST, timkensteel.com ), a leader in custom steel and alloy steel products and services, announced today that it is changing to the mark-to-market method of accounting for pension and other post-employment benefit (OPEB) plans. This method recognizes actuarial gains or losses in the year incurred rather than amortizing them over future years.  The net impact of this change is estimated to decrease the company's 2016 operating results by approximately $25 million to $35 million (after-tax), with full-year net loss now projected to be between $80 million and $90 million .  The majority of the net impact will be recognized in the fourth-quarter with the remainder...