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TimkenSteel in the News

11.03.22 TimkenSteel Announces Third-Quarter 2022 Results
Net sales of $316.8 million Net loss of $13.3 million with adjusted EBITDA(1) of $10.8 million Operating cash flow of $46.8 million with record ending cash and cash equivalents of $262.5 million TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today confirmed its previously reported third-quarter 2022 net sales of $316.8 million and reported a net loss of $13.3 million, or a loss of $0.29 per diluted share. On an adjusted basis (1) , the third-quarter 2022 net loss was $4.1 million, or a loss of $0.09 per diluted share, and adjusted EBITDA was $10.8 million. This compares with the company's sequential second-quarter 2022 net sales of $415.7 million and net income of $74.5 million, or $1.42 per diluted share. On an adjusted basis (1) , second-quarter 2022 net income was $67.4 million, or $1.29 per diluted share, and adjusted EBITDA was a record $84.2 million. In the same quarter last year, net sales were $343.7...
11.02.22 TimkenSteel Elects Two New Independent Directors
TimkenSteel Corp. (NYSE: TMST) – The board of directors of TimkenSteel Corporation today elected Mary Ellen Baker, retired executive vice president and head of business services for Citizens Bank, and Nick Chirekos, retired managing director, North America head of mining for J.P. Morgan, as new independent directors. They join nine directors currently serving on the TimkenSteel board. "Both are exceptional leaders, and their proven expertise in technology, cybersecurity, business transformation, investment banking, capital markets and mergers and acquisitions aligns well with TimkenSteel's strategic priorities for growth and complements the board's shared knowledge and experience in several key areas of emphasis," said Ron Rice, chairman of TimkenSteel's board. "We are fortunate to have Mary Ellen and Nick further strengthen our board and look forward to their insights." Baker is a retired banking executive with deep experience in leading technology and operations teams as well as...
10.12.22 TimkenSteel Announces Preliminary Third-Quarter 2022 Financial Results and Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today announced preliminary third-quarter 2022 financial results. "The end of July incident at our melt shop, which resulted in approximately one month of melt shop downtime and a subsequent slower than expected ramp up, significantly impacted our profitability for the third quarter. As a result, we expect third quarter adjusted EBITDA (1) to be in the range of approximately $9 million to $12 million. The company anticipates a significant recovery on its business interruption insurance related to the incident. The insurance recovery process is ongoing and nothing has been recorded at this time," said Mike Williams, president and chief executive officer. "We are encouraged that demand remains strong across our end markets with a customer order backlog in excess of 300,000 ship tons, the majority of our production capacity allocated to customers in 2023, and...