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BRIEF-Timkensteel Q4 loss per share $1.52
February 16, 2017 / 10:01 PM / 10 months ago

BRIEF-Timkensteel Q4 loss per share $1.52

Feb 16 (Reuters) - Timkensteel Corp :

* TimkenSteel announces fourth-quarter and full-year 2016 results

* Q4 loss per share $1.52

* Q4 sales $214.7 million

* Q4 earnings per share view $-0.40 -- Thomson Reuters I/B/E/S

* TimkenSteel -net impact of mark-to-market adjustment in Q4 and full year was a net loss of $53.1 million and $49.6 million respectively, primarily due to lower interest rates

* TimkenSteel - qtrly ship tons were approximately 193,000, an increase of 10.1 percent over q4 of 2015 and 8.6 percent sequentially

* TimkenSteel sees 2017 capital spending is projected to be $40 million

* TimkenSteel says expect 2017 to be a better year, starting off with projected sales in Q1 that are higher than typical seasonality

* TimkenSteel - first-quarter 2017 net income is projected to be between $2 million and $12 million

* TimkenSteel says melt utilization was 50 percent for quarter, compared with 41 percent in fourth-quarter 2015 and 44 percent in third-quarter 2016

* TimkenSteel - first-quarter 2017 melt utilization is expected to increase from 50 percent to about 70 percent

* For Q1 2017, shipments expected to be about 70,000 to 80,000 tons higher than Q4 2016

* TimkenSteel - shipments of billets to tube makers projected to be about 50,000 tons for Q1 2017

* TimkenSteel - first-quarter ebitda is projected to be between $25 million and $35 million

* TimkenSteel - “weak market dynamics in 2016 and aggressive competitive positioning influenced annual price agreements” Source text for Eikon: Further company coverage:

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