timkensteelhorizontallogohig.jpg
NEWS RELEASE
 



TimkenSteel Announces First-Quarter 2019 Results

Delivers net income and EBITDA in line with guidance.
Continues to improve product mix and price, driving gross margin expansion.

 
CANTON, Ohio: May 2, 2019 - TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today reported first-quarter 2019 net sales of
$371 million and net income of $4.2 million or $0.09 per diluted share. In the same quarter last year, net sales were $381 million with a net loss of $1.9 million or minus $0.04 per diluted share. EBITDA(1) for first-quarter 2019 was $26.3 million, an increase of $5 million over the same quarter last year.
“As anticipated, our performance strengthened in the first quarter, with continued expansion in gross margin and increased net income compared with the same quarter last year. We achieved these results by executing a strategy to sell a richer mix of products, improve price and deliver on time,” said Tim Timken, chairman, CEO and president. “This commercial strategy combined with operational excellence in safety, quality and customer service remains our priority and will drive shareholder value.”
FIRST-QUARTER 2019 FINANCIAL SUMMARY
First-quarter net sales decreased $10 million or 3 percent year over year.
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.









(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: Nancy Spatholt
 
Investor Contact: Mitch Byrnes
P 330.471.7000
 
P 330.471.7000
news@timkensteel.com
 
ir@timkensteel.com


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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