TimkenSteel Corporation (NYSE: TMST) spotted trading -48.49% off 52-week high price. On the other end, the stock has been noted 54.53% away from the low price over the last 52-weeks. The stock changed -0.13% to recent value of $7.51. The stock transacted 257564 shares during most recent day however it has an average volume of 365.85K shares. The company has 45.35M of outstanding shares and 36.31M shares were floated in the market.
TimkenSteel (TMST) recently stated 2019 third-quarter net sales of $274.2M and a net loss of $4.6M or minus $0.10 per diluted share. In the same quarter last year, net sales were $409.9M with net income of $1.4M or $0.03 per diluted share. EBITDA for the third quarter of 2019 was $14.4M, a decrease of $12.1M from adjusted EBITDA over the same quarter last year.
THIRD QUARTER OF 2019 FINANCIAL SUMMARY
For the quarter, net sales reduced $136M or 33 percent contrast with the prior-year quarter. The decline in net sales contrast with the prior-year period is Because of lower volume as well as lower raw material surcharges.
Ship tons were 209,600, a decrease of 29 percent from the prior-year period as a result of lower shipments across most of the company’s end markets.
Surcharge revenue reduced $56M from the prior-year period primarily Because of a declining No. 1 busheling scrap index and lower volume.
These decreases were partially offset by favorable base price and mix.
(1) Please see discussion of non-GAAP financial measures in this news release.
Third-quarter EBITDA reduced to $14.4M contrast with adjusted EBITDA of $26.5M for the same period a year ago.
Lower demand drove a 31 percent decline in melt utilization and unfavorable fixed cost leverage, partially offset by savings from cost reduction initiatives and lower yearly maintenance costs.
Price and mix benefited from the continuing impact of prior-year spot price increases and 2019 contract pricing, together with lower shipments of OCTG billets, contributing to a richer mix of product sales.
LIFO was a benefit of about $16M contrast with a cost of about $3M for the same period a year ago.
SG&A expenses declined as a result of the company’s profitability improvement plans that targeted, among other areas, a reduction in salaried employees, lower professional services fees and lower benefit costs. Additionally, variable compensation reduced year over year.
Its earnings per share (EPS) expected to touch remained 6.10% for this year. TMST has a gross margin of 6.80% and an operating margin of 0.00% while its profit margin remained -3.20% for the last 12 months. According to the most recent quarter its current ratio was 3.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -0.50% from the mean of 20 days, 11.88% from mean of 50 days SMA and performed 2.64% from mean of 200 days price. Company’s performance for the week was -2.47%, -0.92% for month and YTD performance remained -4.45%.