TimkenSteel Announces First-Quarter 2020 Results
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TimkenSteel (TMST) Misses Q1 EPS by 2c, Revenues Beat
May 7, 2020 4:22 PM EDTTimkenSteel (NYSE: TMST) reported Q1 EPS of ($0.25), $0.02 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $259.7 million versus the consensus estimate of $255.65 million.
FIRST QUARTER OF 2020 FINANCIAL SUMMARY
Net sales of $259.7 million decreased $111.3 million or approximately 30 percent compared with the prior-year first quarter. Lower shipment volume, surcharge revenue and base sales per ton all were contributing factors to the decline in net sales. In comparison to the fourth quarter of 2019, net sales increased 14 percent.Ship tons of 213,400 declined 18 percent from the prior-year first quarter... More