TimkenSteel (TMST) Tops Q2 EPS by 46c, Revenues Miss

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Go back to TimkenSteel (TMST) Tops Q2 EPS by 46c, Revenues Miss

TimkenSteel Announces Second-Quarter 2020 Results

August 6, 2020 4:15 PM EDT

CANTON, Ohio, Aug. 6, 2020 /PRNewswire/ -- TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today reported second-quarter 2020 net sales of $154.0 million and a net loss of $15.3 million. In the same quarter last year, net sales were $336.7 million with net loss of $11.9 million. Adjusted EBITDA(1) for the second quarter of 2020 was $5.7 million compared with adjusted EBITDA(1) of $16.9 million in the same quarter last year. The positive adjusted EBITDA in second-quarter 2020 was achieved through aggressive cost reduction actions to help offset significantly weaker demand. 

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