TimkenSteel Announces Second-Quarter 2018 Results; Reports Increased Earnings

CANTON, Ohio: July 26, 2018 -TimkenSteel (NYSE: TMST,, a leader in customized alloy steel products and services, today reported second-quarter net sales of $413.5 million and net income of $8.4 million or $0.19 per diluted share. In the same quarter last year, net sales were $339.3 million with net income of $1.3 million or $0.03 per diluted share. First-quarter net sales were $380.8 million with a net loss of $1.9 million or minus $0.04 per share.
EBITDA(1) for the second quarter was $30.9 million, which represents an increase from $24.7 million in the same quarter last year, and $21.3 million in the first quarter of 2018.
"Our second-quarter performance was the result of continued market strength, better pricing and improved operating efficiencies, partially offset by higher levels of inflation in select consumables," said Tim Timken, chairman, CEO and president. "Those operational efficiencies at a time of increased demand resulted in our highest shipment quarter in more than six years. Given the continued market strength, we are staying focused on working safely and improving delivery performance while maintaining quality and keeping an eye on long-term growth."
Second-quarter net sales increased $74.2 million or 21.9 percent year over year, and $32.7 million or 8.6 percent sequentially.
Ship tons were approximately 310,000, an increase of 5.1 percent over the second quarter of 2017 and an increase of 3.3 percent sequentially, due to strong end-market demand.
Prior-year and sequential gains were from increased volume, higher prices and improved product mix.
Surcharge revenue of $103.8 million represents a 33.8 percent increase from the prior-year quarter as a result of a 7 percent increase in the No. 1 Busheling Index and higher volumes. Compared with the first quarter of 2018, surcharge revenue increased 14.4 percent.
(1) Please see discussion of non-GAAP financial measures in this news release.

TimkenSteel Corporation
1835 Dueber Ave. S.W., GNE-14, Canton, OH 44706
Media Contact: Carla Wooley, APR
Investor Contact: Chris Holding
P 330.471.7760
P 330.471.7000

The following information was filed by Timkensteel Corp (TMST) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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