TimkenSteel (TMST) Misses Q3 EPS by 5c, Miss on Revenues

TimkenSteel (NYSE: TMST) reported Q3 EPS of ($0.13), $0.05 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $339.1 million versus the consensus estimate of $351.5 million.

FOURTH-QUARTER OUTLOOK

• Shipments are expected to be between 3 percent and 5 percent higher than third-quarter 2017 as markets continue to recover.
• Adjusted EBITDA(1) is projected to be between breakeven and $10 million. At this time, the company is unable to reconcile its fourth quarter outlook for Adjusted EBITDA to a comparable GAAP range due to an expected full re-measurement of its pension and OPEB plan assets and obligations at December 31, 2017. The amount of the gain or loss from the re-measurement cannot currently be estimated.
• Expenses associated with annual maintenance activities are anticipated to be between $8 million and $12 million.
• Raw material spread is expected to be lower in the fourth quarter primarily due to a decrease in the average No. 1 Busheling Index.

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

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