TimkenSteel Sales Up 52.1% in 2Q - Modern Distribution Management

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TimkenSteel Sales Up 52.1% in 2Q

Year-to-date sales up 47.1 percent year-over-year.

TimkenSteel Corp. (NYSE: TMST), Canton, OH, reported sales for the second quarter of $339.3 million, up 52.1 percent year-over-year. The company reported a profit of $2.1 million for the quarter, compared to a loss of $10.4 million in the prior year quarter.

Year-to-date sales were $648.7 million, up 47.1 percent over the prior-year period. The company reported a loss of $2.9 million, compared to a loss of $26.5 million in the prior year period.

"We're continuing a steady pace of performance improvement, driven by growing market demand and the actions we've taken over the past two years to improve both our operating efficiency and our competitive position," said Tim Timken, chairman, CEO and president. "We've had improvement in our markets, structural improvement in our business performance and a successful production ramp, which positions us well for the future."

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