TimkenSteel: 3Q Earnings Snapshot
CANTON, Ohio (AP) _ TimkenSteel Corp. (TMST) on Wednesday reported a third-quarter loss of $4.6 million, after reporting a profit in the same period a year earlier.
The Canton, Ohio-based company said it had a loss of 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The maker of steel large bars and seamless mechanical tubing posted revenue of $274.2 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $291.2 million.
TimkenSteel shares have dropped 30% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.08, a decrease of 51% in the last 12 months.