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We are realizing the benefits of our multi-year $500 million capital investment program.

We designed this plan to strengthen our ability to provide differentiated solutions for the energy, industrial and automotive markets and enhance our operational performance and customer service capabilities. More

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TimkenSteel in the News

12.20.21 TimkenSteel Announces $50 Million Share Repurchase Program and Capital Expenditure Budget for 2022
TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today announced that its Board of Directors has authorized a share repurchase program under which the company may repurchase up to $50 million of its outstanding common shares. Additionally, the Board of Directors approved the capital expenditure budget for 2022 in the amount of $40 million. "These actions reflect the Board's and senior leadership's confidence in our ability to generate sustainable through-cycle profitability while maintaining a strong balance sheet and cash flow," said Mike Williams, president and chief executive officer. "Given our significant transformation over the past two years, we now have the financial flexibility to return capital to shareholders while also investing in the business to drive profitable growth. As such, we increased our 2022 capital expenditure budget to $40 million with over half dedicated to high return internal investment...
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11.04.21 TimkenSteel Announces Third-Quarter 2021 Results
- Third quarter net sales of $343.7 million increased 5 percent sequentially
- Net income of $50.1 million and record adjusted EBITDA(1) of $72.0 million
- Strong operating cash flow of $53.8 million, a 37 percent sequential improvement, with record total liquidity(2) of $444.4 million TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported third-quarter 2021 net sales of $343.7 million and net income of $50.1 million, or $0.94 per diluted share. On an adjusted basis (1) , third-quarter 2021 net income was $55.2 million, or $1.04 per diluted share, and adjusted EBITDA was $72.0 million. In the same quarter last year, net sales were $205.9 million with a net loss of $13.9 million, or a loss of $0.31 per diluted share. On an adjusted basis (1) , third-quarter 2020 net loss was $17.3 million, or a loss of $0.38 per diluted share, and adjusted EBITDA was $2.6 million. Second-quarter 2021 net sales...
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10.29.21 United Steelworkers Ratify Four-Year Contract with TimkenSteel
TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, announced today that its employees who are members of the United Steelworkers (USW) Local 1123 have voted in favor of a new four-year contract. "The company and union worked diligently to reach an agreement that continues to provide some of the area's best wages and benefits, while also addressing some of our long-term competitive challenges," said Mike Williams, president and chief executive officer. "Under this contract, we've worked together to help TimkenSteel more effectively manage some of our ongoing obligations while positioning us to remain one of the area's best employers." The contract, which is in effect until Sept. 27, 2025, offers TimkenSteel's Canton-based bargaining employees increases to base wages every year, competitive healthcare and retirement benefits for all members, and a continued focus on employee wellbeing as well as safe and...
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