UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-36313 TIMKENSTEEL CORPORATION (Exact name of registrant as specified in its charter) Ohio 46-4024951 (State or other jurisdiction of inc ...

TimkenSteel Corporation (TMST) Q2 2023 Earnings Conference Call August 4, 2023 9:00 AM ET Company Participants Jennifer Beeman - Director of Communications and Investor Relations Michael Williams - President and Chief Executive Officer Kristopher Westbrooks - Chief Financial Officer Conference Call Participants John Franzreb - Sidoti & Company, LLC Operator Good morning. My name is Chris, and I’ll be your conference operator today. At this time, I’d like to welcome everyone to the TimkenSteel Corporation Q2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Commission file number: 1-36313 TIMKENSTEEL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1835 Dueber Avenue SW, Canton, OH 44706 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

TimkenSteel Corp (TMST) Q1 2023 Earnings Conference Call May 5, 2023 9:00 AM ET Company Participants Jennifer Beeman - Senior Manager, Communications & IR Michael Williams - CEO, President & Director Kristopher Westbrooks - EVP & CFO Conference Call Participants John Franzreb - Sidoti & Company Philip Gibbs - KeyBanc Capital Markets David Storms - Stonegate Capital Markets Operator Thank you for standing by. My name is Briana, and I will be your conference operator today. At this time, I would like to welco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-36313 TIMKENSTEEL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-36313 TIMKENSTEEL CORPORATION (Exact name of registrant as specified in its charter) Ohio 46-4024951 (State or other jurisdiction of incorporat ...

TimkenSteel Corp (TMST) Q4 2022 Earnings Conference Call February 24, 2023 9:00 AM ET Company Participants Jennifer Beeman - Director of Communications and Investor Relations Mike Williams - President and Chief Executive Officer Kristopher Westbrooks - Executive Vice President and Chief Financial Officer Kevin Raketich - Executive Vice President and Chief Commercial Officer Conference Call Participants Dave Storms - Stonegate Phil Gibbs - KeyBanc Capital Markets John Franzreb - Sidoti & Company Operator Goo ...

Financial Data and Key Metrics Changes - In Q3 2022, net sales totaled $316.8 million, a decrease of 24% sequentially from $415.7 million in Q2 2022 and an 8% decrease from $343.7 million in Q3 2021 [24][32] - The company reported a net loss of $13.3 million or a loss of $0.29 per diluted share, compared to net income of $74.5 million or $1.42 per diluted share in Q2 2022 and net income of $50.1 million or $0.94 per diluted share in Q3 2021 [24][25] - Adjusted EBITDA was $10.8 million in Q3 2022, down from $84.2 million in Q2 2022 and a decrease of $61.2 million compared to Q3 2021 [26][27] Business Line Data and Key Metrics Changes - Industrial shipments decreased by 30% sequentially to 71,300 tons, while mobile shipments decreased by 17% to 71,200 tons [29] - Energy customer shipments totaled 16,000 tons, a sequential decrease of 25% [30] - Approximately 70% of the business operates on annual contracts, with half of the 2023 pricing negotiations completed [12][13] Market Data and Key Metrics Changes - The company has a customer order backlog exceeding 300,000 ship tons, indicating strong demand in mobile, industrial, and energy markets [6] - Base selling prices increased by approximately $300 per ton on average in Q3 2022 compared to the full year 2021 average, reflecting a 30% increase year-over-year [33] Company Strategy and Development Direction - The company aims for $80 million in profitability improvements, with $25 million expected in 2022 and the remainder between 2023 and 2026 [16] - Focus areas include commercial excellence, manufacturing reliability, and administrative process simplifications, with dedicated business development leads in high-growth sectors like energy and defense [17][18] Management's Comments on Operating Environment and Future Outlook - Management expects continued strong demand in the near term, despite challenges from the July melt shop incident [5][22] - For Q4 2022, shipments are expected to be slightly lower than Q3 due to inventory availability and normal seasonality [47] - The company anticipates average base prices to further increase in 2023 following successful annual pricing negotiations [54] Other Important Information - Operating cash flow was $46.8 million in Q3 2022, marking the 14th consecutive quarter of positive cash flow [39] - The company repurchased 1.3 million common shares at a total cost of $19.7 million during Q3 2022, with an additional $75 million share repurchase program authorized [42][44] Q&A Session Summary Question: Raw material spread headwinds - Management indicated that there will still be headwinds in Q4, with surcharges expected to decline [62][63] Question: Net working capital expectations - Management expects no pickup in net working capital in Q4, with modest increases anticipated in the first half of 2023 [64] Question: Production rates and labor demand - Management targets to return to an 80-85% utilization rate by year-end or early Q1 2023, focusing on training new employees [68][75] Question: Liquidity position and cash deployment - The company has a capital allocation strategy focusing on asset investment, maintaining a strong balance sheet, and shareholder returns [76] Question: Impact of rising interest rates on end-market demands - Management noted that while rising interest rates will affect consumer demand, the outlook for the first half of 2023 remains solid [80]

Part I. Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the three and nine months ended September 30, 2022, compared to the same periods in 2021, including Statements of Operations, Comprehensive Income (Loss), Balance Sheets, Shareholders' Equity, and Cash Flows, along with detailed notes Consolidated Statements of Operations (Unaudited) | (Dollars in millions, except per share data) | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $316.8 | $343.7 | $1,084.5 | $944.6 | | **Gross Profit** | $5.6 | $66.7 | $147.0 | $164.6 | | **Income (Loss) Before Income Taxes** | $(12.6) | $50.6 | $101.4 | $116.0 | | **Net Income (Loss)** | $(13.3) | $50.1 | $98.3 | $113.9 | | **Diluted earnings (loss) per share** | $(0.29) | $0.94 | $1.91 | $2.12 | Consolidated Balance Sheets (Unaudited) | (Dollars in millions) | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $582.5 | $582.3 | | **Total Assets** | $1,122.3 | $1,158.9 | | **Total Current Liabilities** | $191.9 | $250.8 | | **Total Liabilities** | $387.2 | $494.3 | | **Total Shareholders' Equity** | $735.1 | $664.6 | Consolidated Statements of Cash Flows (Unaudited) | (Dollars in millions) | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $110.8 | $106.2 | | **Net Cash Used by Investing Activities** | $(12.7) | $(0.9) | | **Net Cash Used by Financing Activities** | $(94.5) | $(36.1) | | **Increase in Cash and Cash Equivalents** | $3.6 | $69.2 | [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of the company's accounting policies and financial results, covering revenue breakdowns, restructuring, asset disposition, financing arrangements, and updates to retirement plans Net Sales by End-Market Sector (in millions) | End-Market | Q3 2022 | Q3 2021 | 9M 2022 | 9M 2021 | | :--- | :--- | :--- | :--- | :--- | | Mobile | $130.0 | $133.5 | $427.0 | $400.0 | | Industrial | $146.0 | $182.0 | $529.2 | $480.3 | | Energy | $36.0 | $20.4 | $107.3 | $41.4 | Net Sales by Product Type (in millions) | Product Type | Q3 2022 | Q3 2021 | 9M 2022 | 9M 2021 | | :--- | :--- | :--- | :--- | :--- | | Bar | $206.5 | $238.0 | $738.1 | $636.5 | | Tube | $44.8 | $43.8 | $144.1 | $120.8 | | Manufactured components | $60.7 | $54.1 | $181.3 | $164.3 | - In the first half of 2022, the company repurchased **$25.2 million** of its Convertible Senior Notes Due 2025 for a total cash payment of **$67.6 million**, resulting in a **$43.0 million loss** on extinguishment of debt, with no repurchases occurring in Q3 2022[84](index=84&type=chunk)[161](index=161&type=chunk) - The company repurchased **1.9 million common shares** for **$32.4 million** in the first nine months of 2022, with **$17.6 million** remaining on its **$50.0 million share repurchase program** as of September 30, 2022, and an additional **$75.0 million program** authorized on November 2, 2022[91](index=91&type=chunk)[93](index=93&type=chunk) - On July 7, 2022, the company transferred approximately **$256.2 million of pension obligations** under the Bargaining Plan to Prudential via a group annuity contract, funded by plan assets, resulting in a non-cash settlement gain of **$2.7 million** in Q3 2022[95](index=95&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the key factors influencing the company's financial performance, noting significant Q3 2022 declines in net sales and gross profit due to a melt shop incident and unfavorable raw material spread, while highlighting strong liquidity and capital return activities - Q3 2022 net sales decreased **7.8% YoY to $316.8 million**, driven by a **54 thousand ton drop** in shipment volume due to a melt shop incident in July 2022 and lower surcharges, partially offset by favorable price/mix[122](index=122&type=chunk) - Q3 2022 gross profit plummeted **91.6% YoY to $5.6 million from $66.7 million**, primarily due to higher manufacturing costs from lower cost absorption after the melt shop incident, unfavorable raw material spread, and lower volumes[126](index=126&type=chunk) - SG&A expenses decreased by **$3.7 million (18.6%)** in Q3 2022 and **$4.0 million (6.6%)** in the first nine months of 2022 compared to the same periods in 2021, mainly due to lower variable compensation expense[131](index=131&type=chunk) Liquidity Summary (in millions) | | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $262.5 | $259.6 | | Credit Facility Availability | $224.7 | $251.1 | | **Total liquidity** | **$487.2** | **$510.7** | - On September 30, 2022, the company entered into an Amended Credit Agreement, extending the maturity of its **$400.0 million revolving credit facility** to September 2027 and securing more favorable terms[153](index=153&type=chunk)[154](index=154&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company identifies its primary market risks as interest rate, foreign currency, and commodity price fluctuations, with minimal interest rate risk due to fixed-rate debt and commodity price risk managed through surcharges, while noting potential future volatility from the Russia-Ukraine conflict - The company has **no variable-rate debt** outstanding as of September 30, 2022, so a rise in interest rates would not impact interest expense[199](index=199&type=chunk) - Exposure to commodity price risk (scrap steel, alloys, natural gas) is managed primarily through a raw material surcharge mechanism passed on to customers[202](index=202&type=chunk) - The Russia-Ukraine conflict is identified as a potential risk that could exacerbate inflation and cause market disruptions, though no material impact has been felt to date[201](index=201&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on management's evaluation, including the CEO and CFO, the company's disclosure controls and procedures were deemed effective as of September 30, 2022, with no material changes in internal control over financial reporting during the third quarter - The principal executive officer and principal financial officer concluded that disclosure controls and procedures were **effective** as of the end of the reporting period[203](index=203&type=chunk) - **No changes** in the Company's internal control over financial reporting occurred during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[204](index=204&type=chunk) Part II. Other Information [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various claims and legal actions arising in the ordinary course of business, which management does not expect to have a material adverse effect on the company's financial position, results of operations, or cash flows - Management believes that the ultimate outcome of ongoing legal actions, which arise in the ordinary course of business, will **not have a material adverse effect** on the company's financials[206](index=206&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) This section directs readers to the detailed discussion of risks and uncertainties found in the Risk Factors section of the company's Annual Report on Form 10-K for the year ended December 31, 2021 - The company is subject to various risks and uncertainties, which are detailed in its Annual Report on Form 10-K for the year ended December 31, 2021[207](index=207&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's repurchase of its common shares during the third quarter of 2022, all made as part of the publicly announced $50.0 million share repurchase program authorized in December 2021 Share Repurchases for Q3 2022 | Month (2022) | Total Shares Purchased | Average Price Paid per Share | Maximum Value Remaining under Program (in millions) | | :--- | :--- | :--- | :--- | | July | 186,766 | $17.72 | $34.0 | | August | 69,635 | $17.76 | $32.8 | | September | 995,711 | $15.20 | $17.6 | | **Quarter-to-date** | **1,252,112** | **$15.72** | **$17.6** | - All share repurchases were part of the **$50.0 million program** announced on December 20, 2021, which does not have an expiration date[209](index=209&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications from the Chief Executive Officer and Chief Financial Officer as required by the Sarbanes-Oxley Act, and various Inline XBRL documents for financial reporting - The report includes required CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[211](index=211&type=chunk) - Inline XBRL data files (Instance, Schema, Presentation, Calculation, Label, Definition) are filed as exhibits[211](index=211&type=chunk)

TimkenSteel Corp (TMST) Q2 2022 Earnings Conference Call August 5, 2022 9:00 AM ET Company Participants Jennifer Beeman - Director, Communications & IR Mike Williams - CEO, President & Director Kristopher Westbrooks - EVP & CFO Kevin Raketich - Executive Vice President and Chief Commercial Officer Conference Call Participants Marco Rodriguez - Stonegate Capital Markets Seth Rosenfeld - Exane BNP Paribas Philip Gibbs - KeyBanc Capital Markets Operator Good morning, and welcome to the 2Q 2022 TimkenSteel Corp ...