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About Timkensteel Corp

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars; seamless mechanical tubing (tubes); manufactured components, such as precision steel components; and billets. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are also used as a feeder system for its melt operations. The Company’s products and services are used in a various range of demanding applications in the various market sectors, including automotive, oil and gas, industrial equipment, mining, construction, rail, defense, heavy truck, agriculture, power generation, and oil country tubular goods (OCTG). SBQ steel is used in critical mechanical applications. It makes these products from approximately 100% recycled steel to create custom steel products.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Timkensteel Corp revenues increased 54% to $1.28B. Net income totaled $171M vs. loss of $61.9M. Revenues reflect United States segment increase of 56% to $1.17B, Foreign segment increase of 39% to $116.8M. Net Income reflects Interest expense decrease of 52% to $5.9M (expense), Loss on extinguishment of debt decrease from $900K (expense) to $0K.