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Sep 30, 2020
Metallus Q3 2020 Earnings Report
Reported third-quarter results with increased net sales and strong operating cash flow.
Key Takeaways
TimkenSteel reported a net sales increase of 34% sequentially, driven by the automotive demand recovery. The company generated $41.1 million in operating cash flow and had a net loss of $13.9 million. Total liquidity improved to $280 million.
Net sales increased 34 percent sequentially due to automotive demand recovery.
Generated $41.1 million in operating cash flow, marking the sixth consecutive quarter of positive operating cash flow.
Total liquidity improved to $280 million as of September 30, 2020.
Cost reductions are on pace to deliver over $100 million of run rate savings, exceeding the previous target of $70 million.
Revenue by Segment
Forward Guidance
Given the extent and uncertainty of COVID-19 on the economy and TimkenSteel customers, the company will not provide guidance on shipments and earnings for the fourth quarter of 2020. The company expects its planned 2020 capital expenditure spending to be in the previously stated range of $15 million to $20 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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