Published on 10 Aug 2023 on Zacks via Yahoo Finance
TimkenSteel (TMST) Earnings Top Estimates in Q2, Revenues Miss
TimkenSteel Corporation TMST recorded a profit of $28.9 million or 62 cents per share in second-quarter 2023, down from a profit of $74.5 million or $1.42 in the year-ago quarter.Barring one-time items, adjusted earnings were 60 cents for the quarter, beating the Zacks Consensus Estimate of 57 cents.Sales fell around 14% year over year to $356.6 million in the quarter. The figure missed the Zacks Consensus Estimate of $357.5 million. The top line was hurt by reduced shipments and lower surcharge revenue per ton as a result of lower scrap prices. This was partly offset by higher base sales prices.
Timken Steel Corporation Price, Consensus and EPS Surprise