The 2020 Mid-Year Economic Update_long

TimkenSteel Sales Up 21.2% in 2014

Fourth quarter sales up 23.7 percent year-over-year.

TimkenSteel Corporation (NYSE: TMST), Canton, OH, reported full year sales for 2014 of $1.7 billion, a 21.2 percent increase over the previous year. Profit increased 17.3 percent to $105 million.

Sales for the fourth quarter were $408.3 million, up 23.7 percent year-over-year. Profit decreased 34.8 percent to $17 million.

Industrial and mobile segment sales in the fourth quarter were $234.7 million, up 14.9 percent year-over-year. Energy and distribution segment sales were up 38 percent to $173.6 million.

"In 2015, we'll continue to serve a broad range of industries, and while the price of oil will impact our energy business this year, we've proven our ability to execute on our unique business model in both up and down markets," said Ward J. "Tim" Timken, Jr., president and CEO.

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