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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...