TimkenSteel (TMST) Misses Q3 EPS by 2c

October 27, 2016 4:49 PM EDT
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TimkenSteel (NYSE: TMST) reported Q3 EPS of ($0.38), $0.02 worse than the analyst estimate of ($0.36). Revenue for the quarter came in at $213.8 million versus the consensus estimate of $215.73 million.

"Our operating performance continues to improve even in a challenging market environment," said Tim Timken, chairman, CEO and president. "This downturn is one of the longest our energy and industrial markets have experienced, but indicators now are trending in a positive direction. We've used this tough environment as an opportunity to further improve our cost structure and accelerate innovation. Our sales, supply chain and manufacturing teams are working together to leverage our material knowledge and modern assets to deliver customer value in new ways. We've taken actions that have improved our short-term performance and will make us an even stronger company when markets recover."

For earnings history and earnings-related data on TimkenSteel (TMST) click here.

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