08.03.23
TimkenSteel Announces Second-Quarter 2023 Results
Net sales of $356.6 million, an increase of 10 percent compared with the first quarter of 2023 Net income of $28.9 million with adjusted EBITDA(1) of $50.5 million Operating cash flow of $13.3 million with ending cash and cash equivalents of $221.9 million Deployed $11.4 million of cash to repurchase common shares and $8.1 million for capital expenditures TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, today reported second-quarter 2023 net sales of $356.6 million and net income of $28.9 million, or $0.62 per diluted share. On an adjusted basis (1) , second-quarter 2023 net income was $27.6 million, or $0.60 per diluted share, and adjusted EBITDA was $50.5 million. This compares with sequential first-quarter 2023 net sales of $323.5 million and net income of $14.4 million, or $0.30 per diluted share. On an adjusted basis (1) , first-quarter 2023 net income was $20.8 million, or $0.44 per diluted share, and...
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08.02.23
TimkenSteel Announces the Election of Jamy P. Rankin to TimkenSteel's Board of Directors
TimkenSteel Corp. (NYSE: TMST) – The board of directors of TimkenSteel Corporation today elected Jamy P. Rankin, retired president and chief executive officer of Ford Component Sales, LLC, as a new independent director. She joins ten directors currently serving on the TimkenSteel board. "We are delighted to welcome Jamy to the TimkenSteel board of directors. Her remarkable track record as a visionary leader in the automotive industry and her expertise in strategic planning, marketing, sales and operations make her a valuable addition to our team," said Ron Rice, chairman of TimkenSteel's board. During her tenure as president and chief executive officer of Ford Component Sales, LLC, Rankin played a pivotal role in expanding the company's market presence and product offerings. Under her leadership, the company experienced substantial growth through collaboration, market penetration, and strategic expansion. She also spearheaded international growth initiatives and effectively managed...
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07.20.23
TimkenSteel Announces Second-Quarter 2023 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, will release its 2023 second-quarter financial results on Thursday, August 3, after the market closes on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, August 4, 2023, at 9:00 a.m. EDT. The live conference call will be broadcast at investors.timkensteel.com . A replay of the conference call will also be available at investors.timkensteel.com . ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap metal in Canton, OH, serving demanding applications in mobile, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of...
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05.04.23
TimkenSteel Announces First-Quarter 2023 Results
Net sales of $323.5 million, an increase of 32 percent compared with the fourth quarter of 2022 Net income of $14.4 million with adjusted EBITDA(1) of $36.0 million Operating cash flow of $9.8 million with ending cash and cash equivalents of $227.4 million Deployed $28.1 million of cash to repurchase common shares and convertible notes TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, today reported first-quarter 2023 net sales of $323.5 million and net income of $14.4 million, or $0.30 per diluted share. On an adjusted basis (1) , the first-quarter 2023 net income was $20.8 million, or $0.44 per diluted share, and adjusted EBITDA was $36.0 million. This compares with the sequential fourth-quarter 2022 net sales of $245.4 million and a net loss of $33.2 million, or a loss of $0.75 per diluted share. On an adjusted basis (1) , the fourth-quarter 2022 net loss was $4.6 million, or a loss of $0.10 per diluted share,...
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04.20.23
TimkenSteel Announces First-Quarter 2023 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, will release its 2023 first-quarter financial results on Thursday, May 4, after the market closes on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, May 5, 2023, at 9:00 a.m. EDT. The live conference call will be broadcast at investors.timkensteel.com . A replay of the conference call will also be available at investors.timkensteel.com . ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap metal in Canton, OH, serving demanding applications in mobile, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making...
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04.18.23
TimkenSteel Publishes 2022 Sustainability Report
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today released its 2022 sustainability report, which is available at https://timkensteel.com/who-we-are/Sustainability . The 2022 Sustainability Report provides an update on the company's continued commitment to responsible and sustainable operations. The report highlights progress on key initiatives and programs that support the company's three sustainability pillars: Environmental Stewardship, Social Commitment, and Governance and Ethics. These pillars connect directly to the theme of the 2022 report – "People. Passion. Principles." – which reflects how TimkenSteel strives for excellence in all areas of sustainability while maintaining its focus on its mission and core values. "We are pleased to share our second sustainability report, which demonstrates the ways we prioritize the people who make up TimkenSteel, our passion for reducing our environmental...
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02.23.23
TimkenSteel Announces Fourth-Quarter and Full-Year 2022 Results
Net sales of $245.4 million in the fourth-quarter and $1.3 billion for the full-year Fourth-quarter net loss of $33.2 million and full-year net income of $65.1 million with adjusted EBITDA(1) of $11.9 million in the fourth-quarter and $172.2 million for the full-year Operating cash flow of $23.7 million in the fourth quarter with $134.5 million for the full-year TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, today reported fourth-quarter 2022 net sales of $245.4 million and a net loss of $33.2 million, or a loss of $0.75 per diluted share. On an adjusted basis (1) , the fourth-quarter 2022 net loss was $4.6 million, or a loss of $0.10 per diluted share, and adjusted EBITDA was $11.9 million. This compares with the company's sequential third-quarter 2022 net sales of $316.8 million and 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...
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