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Dec 31, 2021
Metallus Q4 2021 Earnings Report
TimkenSteel reported strong profitability and significant operating cash flow due to robust customer demand and efforts to improve commercial effectiveness, enhance manufacturing efficiency, and streamline business processes.
Key Takeaways
TimkenSteel announced fourth-quarter 2021 net sales of $338.3 million and net income of $57.1 million, or $1.07 per diluted share. On an adjusted basis, fourth-quarter 2021 net income was $42.3 million, or $0.80 per diluted share, and adjusted EBITDA was $62.1 million.
Net sales of $338.3 million in the fourth-quarter reflect strength in customer demand
Fourth-quarter net income of $57.1 million
Full-year 2021 operating cash flow of $196.9 million, including $90.7 million in the fourth-quarter
Customer demand remained strong, as evidenced by a full order book in the first-half of 2022.
Revenue by Segment
Forward Guidance
Customer demand remains strong, as evidenced by a full order book in the first-half of 2022. Ship tons in the first-quarter of 2022 are expected to be down slightly from the fourth-quarter of 2021. Melt utilization is expected to be at or above 80 percent during the first-quarter.
Positive Outlook
- Customer demand remains strong, as evidenced by a full order book in the first-half of 2022.
- Price agreement negotiations are nearly complete with customers and represent approximately 70 percent of the 2022 order book with a meaningful increase in base prices compared with 2021 average base prices.
- Melt utilization is expected to be at or above 80 percent during the first-quarter.
- Customer demand remains strong
- Price agreement negotiations are nearly complete
Challenges Ahead
- Ship tons in the first-quarter of 2022 are expected to be down slightly from the fourth-quarter of 2021.
- Surcharge revenue per ton is expected to decline in the first-quarter of 2022 as a result of a lower No. 1 busheling scrap index compared with the fourth-quarter of 2021.
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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