TimkenSteel (TMST) Misses Q3 EPS by 14c, Revenues Beat

October 29, 2020 4:42 PM

TimkenSteel (NYSE: TMST) reported Q3 EPS of ($0.38), $0.14 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $205.9 million versus the consensus estimate of $204.7 million.

"We continued to make progress on important initiatives during the quarter as our customers began to recover from the impact of the COVID-19 pandemic. Our focus on cash generation resulted in $41.1 million of operating cash flow in the third quarter of 2020 and $121.0 million for the first nine months of 2020. This represents our sixth consecutive quarter of positive operating cash flow. In addition, we generated positive EBITDA and accelerated cost reduction initiatives across the company while staying focused on our customers as well as on the health and safety of our workforce," said Terry L. Dunlap, interim chief executive officer and president. "During the third quarter, our sales and shipments improved sequentially as a result of the rebounding automotive market; however, we believe demand in other end markets will remain challenged in the near term. At the end of the third quarter, our cash position remained strong and we had sufficient liquidity to meet the needs of our business."


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


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