Welcome to our dedicated page for Metallus news (Ticker: TMST), a resource for investors and traders seeking the latest updates and insights on Metallus stock.
Metallus Inc. (formerly known as TimkenSteel, symbol: TMST) is an industry leader in high-performance specialty metals, manufactured components, and supply chain solutions. Founded in Canton, Ohio, Metallus has been producing high-quality steel products for more than a century. The company excels in creating stronger, cleaner steel that meets the exacting demands of various industrial applications, from automotive to aerospace and defense, and energy sectors.
Metallus employs approximately 1,800 people and reported sales of $1.3 billion in 2022. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing, and manufactured components. Metallus prides itself on its sustainable manufacturing processes, utilizing recycled scrap metal as a core material, affirming its commitment to environmental stewardship.
Recent developments highlight the company's continued success and innovation. For instance, Metallus reported third-quarter 2023 net sales of $354.2 million and net income of $24.8 million. The company also announced significant investments like a $5 million project to add two new machining lines for electric vehicle components, enhancing production efficiency and meeting the growing market demands.
Furthermore, Metallus is renowned for its partnerships and industry accolades. It was named Steel Producer of the Year and received the Best Innovation (Process) award by American Metal Market in 2015 for its jumbo bloom vertical caster. These achievements underscore Metallus’ role in pushing the boundaries of what is possible in steel manufacturing.
On February 27, 2024, Metallus will be updating its ticker symbol to NYSE: MTUS to reflect its new identity after rebranding from TimkenSteel. This rebranding signifies a strategic evolution towards harnessing the enduring power of high-performance metals to make the world a better place. The company also plans to unveil a new corporate website on the same date.
Metallus continues to focus on safety, manufacturing excellence, and maintaining strong financial health. The company's robust balance sheet, with significant cash reserves and liquidity, positions it well for continued growth and innovation. The firm's strategic initiatives and operating plans are aimed at driving sustainable through-cycle profitability and cash flows, ensuring that Metallus remains a formidable presence in the high-performance metals industry.
TimkenSteel Corp. (NYSE: TMST) will announce its 2022 first-quarter financial results on May 4, after market close. Following this, a conference call for investors is scheduled on May 5 at 9:00 a.m. EDT, accessible via the company’s investor relations website. TimkenSteel, based in Canton, Ohio, specializes in high-quality carbon and alloy steel products, boasting $1.3 billion in sales for 2021 and employing approximately 1,850 workers.
TimkenSteel (NYSE: TMST) reported fourth-quarter 2021 net sales of $338.3 million and net income of $57.1 million, or $1.07 per diluted share. This marks a 60% year-over-year increase in sales, attributed to higher raw material surcharges and strong demand. However, sales decreased by 2% sequentially due to lower shipments. For the full year, net income reached $171.0 million, reversing a $61.9 million loss from 2020. Cash flow remained strong with a record cash balance of $259.6 million.
TimkenSteel Corp. (NYSE: TMST) will announce its 2021 fourth-quarter and full-year financial results on February 24, after market close. A conference call will follow on February 25 at 9:00 a.m. ET, accessible via investors.timkensteel.com. TimkenSteel, based in Canton, Ohio, specializes in high-performance carbon and alloy steel products, having generated $831 million in sales in 2020.
TimkenSteel (NYSE: TMST) has announced a $50 million share repurchase program approved by its Board of Directors, reflecting confidence in the company's profitability and financial flexibility. Additionally, the Board set a $40 million capital expenditure budget for 2022, aimed at boosting internal investment projects. The share buyback may be executed through various methods, depending on market conditions and share price, and does not obligate the company to a specific dollar amount or number of shares.
TimkenSteel (NYSE: TMST) reported third-quarter 2021 net sales of $343.7 million with a net income of $50.1 million, or $0.94 per diluted share. This marks a remarkable 67% increase in net sales compared to the same quarter last year. Adjusted EBITDA hit a record $72.0 million. The company highlighted strong industrial demand despite a 5% decline in mobile shipments due to semiconductor shortages. As of September 30, 2021, cash stood at $172.0 million with total liquidity at a record $444.4 million. The company anticipates a decrease in fourth-quarter shipments.
On October 29, 2021, TimkenSteel Corp. (NYSE: TMST) announced that its employees, represented by the United Steelworkers (USW) Local 1123, ratified a new four-year contract. This agreement ensures annual wage increases, competitive healthcare, and retirement benefits for approximately 1,180 employees at the Canton, Ohio facility. CEO Mike Williams highlighted that the contract addresses long-term competitive challenges while maintaining TimkenSteel's commitment to employee wellbeing and safe operations. The contract is effective until September 27, 2025.
TimkenSteel Corp. (NYSE: TMST) will release its 2021 third-quarter financial results on November 4, following market closure. A conference call for investors is scheduled for November 5 at 9:00 a.m. ET, accessible via their investor website. TimkenSteel specializes in high-performance carbon and alloy steel products for several industries, with a commitment to quality for over 100 years. In 2020, the company reported sales of $831 million and employs approximately 1,900 personnel.
TimkenSteel Corp. (NYSE: TMST) announced ambitious 2030 environmental goals, aiming for significant reductions based on a 2018 baseline:
- 40% in Scope 1 and 2 GHG emissions
- 30% in total energy consumption
- 35% in fresh water usage
- 10% in waste-to-landfill intensity
TimkenSteel Corp. (NYSE: TMST) announced a $60 per ton increase in base pricing for all special bar quality (SBQ) products, effective November 1, 2021. This change applies to orders not already covered by existing pricing agreements. All surcharge mechanisms will remain in effect. TimkenSteel has been a leader in customized alloy steel products for over 100 years, with sales totaling $831 million in 2020 and approximately 1,900 employees. The company is based in Canton, Ohio.
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