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) is set to release its 2021 first-quarter financial results on May 6, after market closure. A live conference call for discussing these results will take place on May 7 at 9:00 a.m. EDT, accessible via their investor website. TimkenSteel specializes in high-performance carbon and alloy steel products, employing around 2,000 people and generating $831 million in sales in 2020. The company has over a century of experience and focuses on delivering steel primarily from recycled materials.
TimkenSteel Corp. (NYSE: TMST) announced a price increase for special bar quality (SBQ) products effective May 3, 2021. The increase is $55 per ton for products sized 3.500" and below, and $40 per ton for sizes above 3.500". This adjustment applies to orders not covered by existing pricing agreements. TimkenSteel, a leader in alloy steel manufacturing, generated $831 million in sales in 2020 and continues to serve key sectors such as automotive and energy.
TimkenSteel Corp. (NYSE: TMST) has announced a price increase of $40 per ton on carbon and quench and temper alloy seamless mechanical tubing products. This change will be effective for all shipments starting July 5, 2021. The company continues to maintain all surcharge mechanisms. TimkenSteel, recognized for its high-performance steel products, reported $831 million in sales for 2020 and employs approximately 2,000 people in Canton, Ohio.
TimkenSteel (NYSE: TMST) reported fourth-quarter 2020 net sales of $211.2 million and a net loss of $12.8 million, showing a recovery from a net loss of $84.6 million in Q4 2019. Adjusted EBITDA rose to $20.7 million from a loss of $8.7 million last year, driven by improved automotive demand. For the full year, net sales declined 31% to $830.7 million, impacted by the pandemic. The company plans to idle its Harrison melt and casting assets to save $15-$20 million annually. As of December 31, 2020, liquidity improved to $314.1 million.
TimkenSteel Corp. (NYSE: TMST) announced a base price increase of $40 per ton on all special bar quality (SBQ) products. This pricing change affects orders not already bound by pricing agreements, taking effect for shipments beginning April 5, 2021. All surcharge mechanisms will remain in place. TimkenSteel, a leader in customized alloy steel products, recorded sales of $1.2 billion in 2019 and employs approximately 2,055 individuals.
TimkenSteel Corp. (NYSE: TMST) will announce its 2020 fourth-quarter and full-year financial results on February 25, post-market. A conference call for discussion will occur on February 26 at 9 a.m. ET. The company manufactures high-performance steel products, serving various industries, with sales reaching $1.2 billion in 2019. TimkenSteel focuses on high-quality steel production, primarily from recycled materials, employing around 2,150 people. Investors can access results online after the announcement.
TimkenSteel Corp. (NYSE: TMST) announced a $40 per ton increase in base pricing on all special bar quality (SBQ) products, effective for shipments starting March 1, 2021. This change is applicable to orders not covered by existing pricing agreements. The company maintains all surcharge mechanisms in effect. TimkenSteel has been a leader in the production of alloy steel products for over 100 years, primarily using recycled materials, and recorded sales of $1.2 billion in 2019.
TimkenSteel announced inducement grants for its new CEO, Michael S. Williams, consisting of time-based and performance-based restricted share units (RSUs and PRSUs). The RSU Award comprises 423,400 shares, vesting on the third anniversary of the grant date (January 5, 2021). The PRSU Award targets the same number of shares with a maximum potential payout of 635,100 shares, based on performance against a benchmark group through 2023. These awards are intended to incentivize Mr. Williams' leadership.
TimkenSteel Corp. (NYSE: TMST) announced a price increase of $40 per ton on its seamless mechanical tubing products. This increase is effective immediately for new orders and will apply to all shipments starting March 1, 2021. The company's surcharge mechanisms will remain unchanged. TimkenSteel, based in Canton, Ohio, specializes in alloy steel products and reported $1.2 billion in sales for 2019, employing approximately 2,055 people.
TimkenSteel (NYSE: TMST) announced significant executive leadership changes, effective January 1, 2021. Michael S. Williams has been appointed as president and CEO, succeeding Terry L. Dunlap, who transitions to an independent director role. Williams brings extensive industry experience, having recently served as CEO of Bayou Steel Group. Additionally, Kristine C. Syrvalin will replace Frank A. DiPiero as general counsel and secretary. These changes aim to build on recent improvements in the company’s financial results amid challenging market conditions.
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