TimkenSteel Corp
NYSE:MTUS
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TimkenSteel Corp
TimkenSteel Corp. engages in the manufacture of alloy, carbon and micro-alloy steel products. The company is headquartered in Canton, Ohio and currently employs 1,850 full-time employees. The company went IPO on 2014-06-19. 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 it manages raw material recycling programs, which are also used as a feeder system for its melting 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). Its production of manufactured components takes place at two downstream manufacturing facilities: Tryon Peak (Columbus, North Carolina) and St. Clair (Eaton, Ohio).
TimkenSteel Corp. engages in the manufacture of alloy, carbon and micro-alloy steel products. The company is headquartered in Canton, Ohio and currently employs 1,850 full-time employees. The company went IPO on 2014-06-19. 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 it manages raw material recycling programs, which are also used as a feeder system for its melting 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). Its production of manufactured components takes place at two downstream manufacturing facilities: Tryon Peak (Columbus, North Carolina) and St. Clair (Eaton, Ohio).
Sales & Profit: Metallus reported third quarter net sales of $305.9 million, up slightly sequentially, with adjusted EBITDA rising to $29 million, a 9% sequential increase and the fourth consecutive quarter of sequential EBITDA growth.
Aerospace & Defense: Backlog in aerospace and defense is up about 80% year-over-year, and management reaffirmed a targeted annual sales run rate of $250 million by mid-2026 in this segment.
Guidance: Fourth quarter shipments are expected to be 5% to 10% lower than Q3 due to seasonality and possible supply chain challenges, with product mix expected to be less favorable and adjusted EBITDA to face a $2 million to $3 million sequential headwind.
Labor Negotiations: The current union labor contract was extended to January 29, 2026, with minimal cost impact in Q3, but possible higher labor and benefit costs in Q4 depending on timing of a new contract.
CapEx & Cash: Capital expenditures for 2025 are expected to be about $120 million, slightly lower than prior guidance, with $90 million funded by the U.S. government; cash and equivalents stood at $191.5 million at quarter-end.
Shareholder Returns: Metallus repurchased 178,000 shares for $3 million in Q3 and has reduced diluted shares outstanding by 25% since 2021.
End Market Trends: Automotive shipments increased slightly sequentially, while energy shipments remain subdued but with growing customer inquiries for 2026; industrial shipments were slightly down sequentially.
