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TimkenSteel: 4Q Earnings Snapshot

CANTON, Ohio (AP) _ TimkenSteel Corp. (TMST) on Wednesday reported a loss of $39.6 million in its fourth quarter.

On a per-share basis, the Canton, Ohio-based company said it had a loss of 89 cents. Losses, adjusted for non-recurring costs, came to 12 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The maker of steel large bars and seamless mechanical tubing posted revenue of $406.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $393 million.

For the year, the company reported that its loss narrowed to $31.7 million, or 71 cents per share. Revenue was reported as $1.61 billion.

TimkenSteel shares have risen 41 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.35, a decline of 29 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TMST at https://www.zacks.com/ap/TMST