25
Oct
21:50
TimkenSteel returns to profitability in Q3
US specialty steel producer TimkenSteel returned to the black in the third quarter, Kallanish reports.
TimkenSteel posted net earnings in Q3 of $1.4 million on sales of $409.9m, up from a loss of $5.9m on sales of $339.1m in Q3 2017.
Tons shipped increased by 2% from Q3 2017 to 295,500 short tons, while surcharge revenue jumped by 37.5%.
The company attributes its Q3 earnings to a “...more favourable product mix resulting from more energy and industr…
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Anonymous
Very good overview of the weekly steel market.
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