tmstlogomastera14.jpg
NEWS RELEASE

 
TimkenSteel Announces Third-Quarter 2018 Results


Delivers net income in-line with guidance; exceeds Adjusted EBITDA(1) expectations
Third-quarter net sales increased 21 percent year over year with improved
product mix
Positioned to deliver continued earnings growth in 2019
 
CANTON, Ohio: October 25, 2018 - TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today reported third-quarter 2018 net sales of
$409.9 million and net income of $1.4 million or $0.03 per diluted share. In the same quarter last year, net sales were $339.1 million with a net loss of $5.9 million or minus $0.13 per diluted share. Adjusted EBITDA(1) for the third quarter was $26.5 million, an increase of $7.7 million over the same quarter last year.
"We continue to build on our position as a leader in special bar quality steel to deliver a richer mix of products, and the third quarter demonstrated good results in that regard. Operational performance remains focused on safety and improved delivery,” said Tim Timken, chairman, CEO and president. “We plan to run production aggressively in the fourth quarter in anticipation of a strong start to 2019.”
THIRD-QUARTER 2018 FINANCIAL SUMMARY
Third-quarter net sales increased $70.8 million or 21 percent year over year.
Ship tons were approximately 295,500, an increase of 2 percent over the third quarter of 2017, due to continued end-market strength.
Net sales benefited from improved product mix, higher prices and surcharges, as well as increased volume.
Surcharge revenue of $107.1 million represents a 37.5 percent increase from the prior-year quarter as a result of higher volumes and a rise in the No. 1 Busheling Index.




(1) Please see discussion of non-GAAP financial measures in this news release.  Adjusted EBITDA for the third quarter of 2018 excludes $1.7 million of executive severance costs, and for the third-quarter 2017 excludes a $2.3 million loss from the remeasurement of benefit plans.

 
TimkenSteel Corporation
 
 
1835 Dueber Ave. S.W., GNE-14, Canton, OH 44706
 
Media Contact: Carla Wooley, APR
 
Investor Contact: Mitch Byrnes
P 330.471.7760
 
P 330.471.7000
news@timkensteel.com
 
ir@timkensteel.com

The following information was filed by Timkensteel Corp (TMST) on Thursday, October 25, 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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