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Dec 31, 2019
Metallus Q4 2019 Earnings Report
TimkenSteel reported a net loss for the fourth quarter of 2019, with sales decreasing due to lower volumes and surcharge revenue.
Key Takeaways
TimkenSteel reported a net sales of $227 million and a net loss of $85 million for the fourth quarter of 2019. The adjusted net loss was $27 million. The company took aggressive actions to improve future profitability and cash generation.
Net sales decreased by 44% compared to the prior-year quarter.
Ship tons decreased by 39% from the prior-year period.
Adjusted net loss was $27 million compared to adjusted net income of $14 million in the fourth quarter of 2018.
Free cash flow was $30 million in the fourth quarter of 2019.
Forward Guidance
The company expects first-quarter 2020 shipments to increase from the fourth quarter of 2019 by approximately 15%. Net loss is projected to be between $12 million and $22 million in the first quarter of 2020. EBITDA is projected to be between break-even to positive $10 million in the first quarter of 2020. Capital spending is projected to be approximately $30 million in 2020.
Positive Outlook
- First-quarter 2020 shipments are expected to increase from the fourth quarter of 2019 by approximately 15%.
Challenges Ahead
- Net loss is projected to be between $12 million and $22 million in the first quarter of 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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