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...
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...
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...