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Delivers net income and EBITDA in line with guidance.
Continues to improve product mix and price, driving gross margin expansion.
Ship tons were 260,900, a decrease of 13 percent from first-quarter 2018. The decrease was in line with prior guidance and primarily due to lower oil country tubular goods (OCTG) billet shipments.
Net sales benefited from improvements in product mix and price, driven by improved 2019 contract pricing, prior-year spot price increases and a continued focus on the sale of higher-margin products.
Surcharge revenue of $90 million represents a slight decrease from the prior-year quarter, primarily as a result of lower volumes.
1835 Dueber Ave. S.W., GNE-14, Canton, OH 44706
Media Contact: Nancy Spatholt
Investor Contact: Mitch Byrnes
The following information was filed by Timkensteel Corp (TMST) on Thursday, May 2, 2019 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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