TimkenSteel reports Q3 adjusted EPS 52c, consensus 54c

Reports Q3 revenue $354.2M, consensus $356.1M. “In the third quarter, our unwavering commitment to safety and our focus on strengthening our culture and fostering teamwork across our commercial, supply chain and manufacturing organizations resulted in solid profitability while meeting the needs of our customers,” stated Mike Williams, president and CEO. “The enhanced collaboration we’ve seen, both with United Steelworkers and our teams, is fueling our pursuit of manufacturing excellence and a deep-rooted culture of safety. We have made significant progress in our capital allocation strategy, continuing our share repurchases and reinvesting in our business. Despite recent market dynamics such as the automotive work stoppages, we remain confident in our ability to navigate market challenges while delivering sustainable profitability and positive operating cash flow throughout the cycles,” said Williams.