Metallus Inc. Stock Price, News & Analysis

TimkenSteel (TMST) reported fourth-quarter 2022 net sales of $245.4 million, a decrease of 23% from the previous quarter. The company experienced a net loss of $33.2 million or $0.75 per diluted share, compared to a loss of $13.3 million in Q3 2022. Full-year 2022 net income was $65.1 million, down from $171 million in 2021. Adjusted EBITDA for the fourth quarter was $11.9 million, with full-year adjusted EBITDA of $172.2 million. Despite challenges in the second half of the year, TimkenSteel anticipates solid demand and pricing in 2023, expecting a 25% increase in ship tons for Q1 2023.

TimkenSteel Corp. (NYSE: TMST) will announce its 2022 fourth-quarter and full-year financial results on February 23, 2023, after market close. The company, known for high-quality specialty steel and supply chain solutions, will host a conference call on February 24, 2023, at 9:00 a.m. EDT for investors. Established over 100 years ago, TimkenSteel operates in Canton, Ohio, and reported $1.3 billion in sales in 2021. Investors can access the live conference call and replay through TimkenSteel's investor relations website.

TimkenSteel (NYSE: TMST) reported third-quarter 2022 net sales of $316.8 million, down 24% sequentially. The company faced a net loss of $13.3 million, with adjusted EBITDA at $10.8 million. Production issues from a July incident at their melt shop impacted performance, leading to a 50% drop in melt utilization and increased manufacturing costs. Despite challenges, cash and cash equivalents reached a record $262.5 million. TimkenSteel has initiated a $75 million share repurchase program, reflecting confidence in future performance, as demand remains strong across end markets.

TimkenSteel Corporation (NYSE: TMST) announced the election of two new independent directors: Mary Ellen Baker, former EVP at Citizens Bank, and Nick Chirekos, retired managing director at J.P. Morgan. Their expertise in technology, business transformation, and investment banking is expected to enhance the board's strategic growth initiatives. Baker brings extensive experience in technology transformations, while Chirekos has a strong background in the mining sector and M&A. The company, a leading manufacturer of high-performance steel products, recorded sales of $1.3 billion in 2021.

TimkenSteel Corp. (NYSE: TMST) announced preliminary financial results for Q3 2022, with adjusted EBITDA expected between $9 million and $12 million. The company faced significant challenges due to a melt shop incident causing one month of downtime, leading to a 24% decline in net sales to $316.8 million. Shipments also fell by 24% to 158,500 tons. Despite these setbacks, TimkenSteel reports a strong order backlog of over 300,000 ship tons and plans for increased third-party melt purchases in Q4.

TimkenSteel (NYSE: TMST) reported Q2 2022 net sales of $415.7 million, a 27% year-over-year increase. Net income reached $74.5 million, or $1.42 per diluted share, with a record adjusted EBITDA of $84.2 million. Ship tons were 208,900, reflecting a 6% sequential increase driven by industrial and energy shipments. However, manufacturing costs rose due to inflation and increased maintenance. Cash and liquidity stood at $238.5 million and $558.7 million, respectively. Looking ahead, the company anticipates a decline in adjusted EBITDA for Q3, influenced by lower scrap prices and operational disruptions.

TimkenSteel Corp. (NYSE: TMST) will release its 2022 second-quarter financial results on August 4, after market close. A conference call for investors will follow on August 5 at 9:00 a.m. EDT. TimkenSteel manufactures high-performance carbon and alloy steel products, focusing on various industrial sectors. The company is based in Canton, Ohio, employs about 1,800 people, and reported $1.3 billion in sales for 2021. For more updates, visit www.timkensteel.com.

On July 7, 2022, TimkenSteel (NYSE: TMST) announced its agreement to purchase a group annuity contract from Prudential for around $250 million, aimed at settling a portion of its $800 million pension obligations. This will secure benefits for approximately 1,900 retirees starting October 1, 2022, with no reduction in their payments. The transaction is expected to reduce TimkenSteel's pension obligations by 25%, resulting in a projected non-cash pension settlement gain of $2 million in Q3 2022, strengthening the company's balance sheet.

TimkenSteel (TMST) reported strong first-quarter 2022 results, with net sales of $352.0 million, a 4% increase from Q4 2021, and a 29% increase year-over-year. The net income was $37.1 million or $0.70 per diluted share, up from $9.8 million in Q1 2021. Adjusted EBITDA rose to $65.3 million. The company reported operating cash flow of $13.3 million and highlighted solid customer demand. Despite manufacturing costs rising due to inflation, TimkenSteel expects sequential growth in adjusted EBITDA and positive cash flow for Q2 2022.