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BRIEF-TimkenSteel Q1 loss per share $0.12
April 27, 2017 / 8:54 PM / 7 months ago

BRIEF-TimkenSteel Q1 loss per share $0.12

April 27 (Reuters) - TimkenSteel Corp

* Timkensteel announces first-quarter 2017 results; shipments increase with growing demand

* Q1 loss per share $0.12

* Q1 sales $309.4 million

* Q1 earnings per share view $-0.10, revenue view $305.3 million -- Thomson Reuters I/B/E/S

* TimkenSteel Corp - 2017 capital spending is projected to be $40 million

* Says Q1 ship tons were approximately 280,000, an increase of 50.4 percent over Q1 of 2016 and 45.0 percent sequentially

* TimkenSteel Corp - anticipate commissioning of advanced quench-and-temper facility in Q4

* Says EBITDA is projected to be between $15 million and $25 million in Q2

* TimkenSteel Corp - 2017 capital spending is projected to be $40 million

* TimkenSteel Corp - Q2 shipments are expected to be approximately 10,000 to 20,000 tons

* Says second-quarter shipments are expected to be approximately 10,000 to 20,000 tons (or about 5 percent) higher than first-quarter 2017

* Timkensteel corp says q2 raw material spread is expected to be similar to first-quarter 2017

* Says Q2 melt utilization is expected to increase from 71 percent to 74 percent from higher volumes

* Timkensteel corp - q2 shipments of billets to tube makers projected to be about 60,000 tons

* TimkenSteel Corp - anticipate commissioning of advanced quench-and-temper facility in q4

* TimkenSteel Corp - second-quarter net income/loss is projected to be between a loss of $8 million and income of $2 million Source text for Eikon: Further company coverage:

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