Exhibit 99.1 Metallus Announces First-Quarter 2024 Results CANTON, Ohio: May 9, 2024 – Metallus (NYSE: MTUS), a leader in high-quality specialty metals, manufactured components and supply chain solutions, today reported first-quarter 2024 net sales of $321.6 million and net income of $24.0 million, or $0.52 per diluted share. On an adjusted basis (1) , the first-quarter 2024 net income was $26.1 million, or $0.56 per diluted share, and adjusted EBITDA was $43.4 million. This compares with the sequential fou ...

PART I [Item 1. Business](index=3&type=section&id=Item%201.%20Business) Metallus Inc. manufactures alloy, carbon, and micro-alloy steel products for diverse industrial, automotive, aerospace, and energy markets as a single segment - Metallus Inc. manufactures alloy, carbon, and micro-alloy steel products like **SBQ bars, seamless mechanical tubing, and billets** using electric arc furnace (EAF) technology[9](index=9&type=chunk)[10](index=10&type=chunk) - Products serve diverse end-markets including **industrial, automotive, aerospace & defense, and energy**[10](index=10&type=chunk) - The company operates as a **single business segment**, aligning with the Chief Operating Decision Maker's (CODM) performance evaluation and resource allocation[14](index=14&type=chunk)[155](index=155&type=chunk) Operational Capacity | Metric | Value | | :----- | :---- | | Annual Melt Capacity | ~1.2 million tons | | Shipment Capacity | ~0.9 million tons | - In 2023, no single customer accounted for **10% or more of net sales**, serving approximately **350 diverse customers**[18](index=18&type=chunk) - Commodity risks are managed via supplier pricing agreements and raw material/natural gas surcharge mechanisms, mitigating cost increases but potentially diluting gross margin percentage[29](index=29&type=chunk)[31](index=31&type=chunk) Faircrest Melt Shop Unplanned Downtime Insurance Recoveries | Year | Insurance Recoveries Recognized ($M) | | :--- | :--------------------------------- | | 2022 | 33.0 (of which $13.0 million received in 2022, $20.0 million in Q1 2023) | | 2023 | 31.3 (of which $11.3 million received in 2023, $20.0 million in Q1 2024) | - Metallus holds **ISO 14001 certification** and targets 2030 environmental goals including **40% GHG reduction**, **30% energy reduction**, **35% fresh water reduction**, and **10% waste-to-landfill intensity reduction** (vs. 2018 baseline)[34](index=34&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk)[48](index=48&type=chunk) - As of December 31, 2023, the company had approximately **1,840 employees**, with about **64%** covered by a collective bargaining agreement expiring in September 2025[45](index=45&type=chunk)[46](index=46&type=chunk) Voluntary Employee Turnover Rate | Year | Overall Voluntary Turnover Rate | | :--- | :------------------------------ | | 2023 | 8.9% (7.5% salaried, 9.5% hourly) | | 2022 | 16% | | 2021 | 10% | [Overview](index=3&type=section&id=Overview) This section provides a general introduction to Metallus Inc.'s business, products, and operational scope [Operating Segments](index=3&type=section&id=Operating%20Segments) Details on how the company's operations are structured and reported [Industry Segments and Geographical Financial Information](index=3&type=section&id=Industry%20Segments%20and%20Geographical%20Financial%20Information) Breakdown of financial performance by industry and geographic regions [Strengths and Strategy](index=3&type=section&id=Strengths%20and%20Strategy) Key competitive advantages and strategic initiatives [Major Customers](index=4&type=section&id=Major%20Customers) Information on significant customer relationships [Products](index=4&type=section&id=Products) Description of the company's product offerings [Sales and Distribution](index=4&type=section&id=Sales%20and%20Distribution) Methods and channels for product sales and delivery [Competition](index=4&type=section&id=Competition) Analysis of the competitive landscape in the steel industry [Lead Time](index=5&type=section&id=Lead%20Time) Information regarding product delivery timelines [Raw Materials](index=5&type=section&id=Raw%20Materials) Details on sourcing and management of raw materials [Faircrest Melt Shop Unplanned Downtime](index=5&type=section&id=Faircrest%20Melt%20Shop%20Unplanned%20Downtime) Specific event and its financial implications [Environmental Matters and Governmental Regulations](index=6&type=section&id=Environmental%20Matters%20and%20Governmental%20Regulations) Compliance with environmental laws and regulatory impacts [Legal Proceedings](index=6&type=section&id=Legal%20Proceedings) Overview of ongoing legal disputes and their potential impact [Patents, Trademarks and Licenses](index=6&type=section&id=Patents%2C%20Trademarks%20and%20Licenses) Intellectual property assets and their protection [Governance and Environmental Stewardship](index=6&type=section&id=Governance%20and%20Environmental%20Stewards) Corporate governance practices and environmental commitments [Human Capital](index=7&type=section&id=Human%20Capital) Information on the company's workforce and related policies [Available Information](index=9&type=section&id=Available%20Information) Where to find additional company information [Item 1A. Risk Factors](index=10&type=section&id=Item%201A.%20Risk%20Factors) Metallus Inc. faces risks from intense competition, customer dependence, volatile costs, regulatory compliance, and cybersecurity threats - The steel industry is highly competitive, with potential global overcapacity leading to pricing pressure, and tariffs impacting domestic prices[64](index=64&type=chunk)[65](index=65&type=chunk) - The company is dependent on key customers; sales to its **10 largest customers** accounted for approximately **46% of net sales in 2023**[66](index=66&type=chunk) - Raw material and energy costs are volatile, and while surcharges are used, changes in market indices or underlying costs could materially affect revenues, earnings, and cash flows[67](index=67&type=chunk)[69](index=69&type=chunk) - The company is subject to extensive environmental, health, and safety regulations, with future compliance potentially more costly, especially regarding climate change and greenhouse gas emissions[75](index=75&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk) - As of December 31, 2023, approximately **64% of employees** were covered under a collective bargaining agreement expiring in September 2025, posing a risk of work stoppages[81](index=81&type=chunk) - The company has significant pension and retiree health care costs, with unfunded liabilities requiring future cash funding dependent on asset performance, interest rates, and regulations[84](index=84&type=chunk)[85](index=85&type=chunk) - As of December 31, 2023, the company had outstanding debt of **$13.2 million** and total liquidity of **$539.4 million**, with borrowing capacity potentially restricted by asset borrowing base deterioration[92](index=92&type=chunk)[93](index=93&type=chunk) - The conditional conversion feature of the Convertible Notes, if triggered, could require cash settlement, adversely affecting liquidity[96](index=96&type=chunk) - The market price of common shares may fluctuate significantly due to operating results, industry trends, economic instability, and analyst estimates[98](index=98&type=chunk)[99](index=99&type=chunk) - Provisions in corporate documents and Ohio law could delay, defer, or prevent a change in control, potentially reducing the market price of common shares[102](index=102&type=chunk)[103](index=103&type=chunk)[105](index=105&type=chunk)[107](index=107&type=chunk) - The company relies on information technology systems and faces cybersecurity risks, which could lead to misuse of confidential information, data manipulation, and operational disruptions[111](index=111&type=chunk) [Item 1B. Unresolved Staff Comments](index=18&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) There are no unresolved staff comments as of the reporting date - No unresolved staff comments were reported[117](index=117&type=chunk) [Item 1C. Cyber Security](index=18&type=section&id=Item%201C.%20Cyber%20Security) Metallus Inc. maintains a robust cybersecurity program, led by a dedicated team and external advisors, with an incident response plan aligned with the NIST Cybersecurity framework - The company has a robust cybersecurity program, including a detailed incident response plan and playbook aligned with the **NIST Cybersecurity framework**[118](index=118&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk) - The Board of Directors, with input from management, assesses cybersecurity measures and receives regular updates from the IT leadership team[121](index=121&type=chunk) - As of the report date, no material risks from cybersecurity threats that have materially affected or are reasonably likely to materially affect the company's business strategy, results of operations, or financial condition have been identified[122](index=122&type=chunk) [Item 2. Properties](index=19&type=section&id=Item%202.%20Properties) Metallus Inc. operates manufacturing facilities in Ohio and North Carolina, with headquarters in Canton, Ohio, totaling 3.6 million square feet, and 70% melt capacity utilization in 2023 - The company's headquarters are in Canton, Ohio, with manufacturing facilities in Canton and Eaton, Ohio, and Columbus, North Carolina, and a leased distribution facility in Mexico[123](index=123&type=chunk)[124](index=124&type=chunk) - Total aggregate floor area of facilities is **3.6 million square feet**, with most being owned[124](index=124&type=chunk) Melt Capacity Utilization | Year | Utilization Rate | | :--- | :--------------- | | 2023 | 70% | | 2022 | 63% | | 2021 | 73% | [Item 3. Legal Proceedings](index=20&type=section&id=Item%203.%20Legal%20Proceedings) Metallus Inc. is involved in various claims and legal actions in the ordinary course of business, which management believes will not have a material adverse effect on its financial position - The company is involved in various claims and legal actions in the ordinary course of business[127](index=127&type=chunk) - Management believes the ultimate disposition of these matters will not materially adversely affect the consolidated financial position, results of operations, or cash flows[127](index=127&type=chunk) [Information about our Executive Officers](index=21&type=section&id=Information%20about%20our%20Executive%20Officers) This section provides a list and brief biographies of Metallus Inc.'s executive officers as of February 28, 2024 Executive Officers (as of February 28, 2024) | Name | Age | Current Position | | :------------------- | :-- | :------------------------------------------------------ | | Michael S. Williams | 63 | President and Chief Executive Officer | | Kristopher R. Westbrooks | 45 | Executive Vice President and Chief Financial Officer | | Kristine C. Syrvalin | 55 | Executive Vice President, General Counsel and Chief Human Resources Officer | | Kevin A. Raketich | 57 | Executive Vice President and Chief Commercial Officer | PART II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=22&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Metallus Inc.'s common shares trade on the NYSE under 'MTUS', with an active share repurchase program and equity compensation plans - Metallus Inc. common shares are traded on the New York Stock Exchange (NYSE) under the symbol **'MTUS'**[2](index=2&type=chunk) - As of December 31, 2023, there were an estimated **3,040 record holders** of common shares[134](index=134&type=chunk) - The Board of Directors authorized an additional **$75.0 million** share repurchase program on November 2, 2022, reflecting confidence in profitability and balance sheet strength[137](index=137&type=chunk)[208](index=208&type=chunk) Common Share Repurchases (Q4 2023) | Month | Total Shares Purchased | Average Price Paid Per Share | | :-------------- | :--------------------- | :--------------------------- | | October, 2023 | 94,408 | $20.53 | | November, 2023 | 56,251 | $20.25 | | December, 2023 | 45,867 | $21.76 | | Quarter ended Dec 31, 2023 | 196,526 | $20.74 | - For the year ended December 31, 2023, the company repurchased approximately **1.7 million common shares** at an aggregate cost of **$32.6 million**, averaging **$19.03 per share**[209](index=209&type=chunk) - As of February 15, 2024, **$39.2 million** remained under the authorized share repurchase program[138](index=138&type=chunk)[210](index=210&type=chunk) Equity Compensation Plan Summary (as of Dec 31, 2023) | Category | Number of Securities to be Issued | Weighted-Average Exercise Price | Number of Securities Remaining Available | | :------------------------------------------- | :-------------------------------- | :------------------------------ | :--------------------------------------- | | Equity compensation plans approved by security holders | 3,583,065 | $17.95 | 3,253,585 | | Equity compensation plans not approved by security holders | 1,058,500 | — | — | | Total | 4,641,565 | $17.95 | 3,253,585 | Cumulative Total Return (Dec 31, 2018 - Dec 31, 2023) | Date | Metallus Inc. | S&P MidCap 400 | S&P 500 Steel | S&P 1500 Steel | | :---------------- | :------------ | :------------- | :------------ | :------------- | | December 31, 2018 | $100.00 | $100.00 | $100.00 | $100.00 | | December 31, 2019 | $85.22 | $109.21 | $125.29 | $115.36 | | December 31, 2020 | $53.26 | $100.40 | $140.27 | $115.68 | | December 31, 2021 | $190.38 | $220.52 | $172.02 | $195.82 | | December 31, 2022 | $202.18 | $256.51 | $145.44 | $236.70 | | December 31, 2023 | $273.31 | $325.28 | $170.48 | $323.96 | [Item 6. Selected Financial Data](index=24&type=section&id=Item%206.%20Selected%20Financial%20Data) This item is intentionally omitted from the report - Selected Financial Data is intentionally omitted from this report[151](index=151&type=chunk) [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section analyzes Metallus Inc.'s financial condition, results of operations, and cash flows, including key performance drivers and liquidity - Metallus Inc. manufactures alloy, carbon, and micro-alloy steel products for industrial, automotive, aerospace & defense, and energy end-markets, operating as a single business segment[154](index=154&type=chunk)[155](index=155&type=chunk) - In 2023, the Aerospace & Defense end market saw a significant increase in ship tons, growing approximately **70%** compared to 2022[158](index=158&type=chunk) - The company invested **$51.6 million** in capital expenditures in 2023, focusing on safety, equipment automation, quality, and manufactured component capacity[160](index=160&type=chunk) - On January 10, 2024, the company announced its rebranding to Metallus Inc., effective February 26, 2024, to reflect its expertise in high-performance specialty metals and growth beyond carbon steel[160](index=160&type=chunk) Net Sales and Shipments (2021-2023) | Metric | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :---------- | :-------- | :-------- | :-------- | | Net Sales | 1,362.4 | 1,329.9 | 1,282.9 | | Ship Tons (thousands) | 683.8 | 692.1 | 818.6 | - Net sales for 2023 increased by **$32.5 million (2.4%)** to **$1,362.4 million**, primarily due to favorable price/mix (**$116.9 million**) offset by lower surcharges (**$75.0 million**) and lower volume (**$9.4 million**); excluding surcharges, net sales increased **11.8%**[162](index=162&type=chunk) Gross Profit (2021-2023) | Year | Gross Profit ($M) | | :--- | :---------------- | | 2023 | 186.5 | | 2022 | 126.7 | | 2021 | 220.0 | - Gross profit increased by **$59.8 million (47.2%)** in 2023 compared to 2022, driven by favorable price/mix (higher base prices) partially offset by higher manufacturing costs[165](index=165&type=chunk) Selling, General and Administrative (SG&A) Expenses (2021-2023) | Year | SG&A Expense ($M) | | :--- | :---------------- | | 2023 | 84.6 | | 2022 | 73.8 | | 2021 | 77.2 | - SG&A expense increased by **$10.8 million (14.6%)** in 2023, mainly due to higher stock-based compensation, variable compensation, and professional services for an ongoing IT transformation project[168](index=168&type=chunk) Impairment Charges & Loss (Gain) on Sale or Disposal of Assets, net (2021-2023) | Year | Impairment Charges ($M) | Loss (Gain) on Sale or Disposal of Assets, net ($M) | | :--- | :---------------------- | :-------------------------------------------------- | | 2023 | — | (2.5) (gain) | | 2022 | — | 1.9 (loss) | | 2021 | 10.6 | 1.3 (loss) | Interest (Income) Expense, net (2021-2023) | Year | Interest (Income) Expense, net ($M) | | :--- | :---------------------------------- | | 2023 | (7.1) (income) | | 2022 | 0.6 (expense) | | 2021 | 5.9 (expense) | - Net interest income was **$7.1 million** in 2023, a significant improvement from a **$0.6 million expense** in 2022, primarily due to interest earned on cash invested in money market funds and deposits, and a reduction in outstanding convertible notes[172](index=172&type=chunk) Other (Income) Expense, net (2021-2023) | Component | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :------------------------------------------ | :-------- | :-------- | :-------- | | Pension and postretirement non-service benefit (income) loss | (4.6) | (20.3) | (37.2) | | Loss (gain) from remeasurement of benefit plans | 40.6 | (35.4) | (20.1) | | Foreign currency exchange loss (gain) | — | (0.2) | 0.1 | | Insurance recoveries | (31.3) | (34.5) | — | | Sales and use tax refund | (1.4) | — | (2.5) | | Miscellaneous (income) expense | 0.4 | (0.2) | 0.2 | | **Total other (income) expense, net** | **3.7** | **(90.6)** | **(59.5)** | - A net loss of **$40.6 million** from the remeasurement of benefit plans was recognized in 2023, driven by a **$36.6 million increase** in pension liability due to a decrease in discount rate and investment losses[175](index=175&type=chunk)[344](index=344&type=chunk) Provision for Income Taxes and Effective Tax Rate (2021-2023) | Year | Provision (benefit) for income taxes ($M) | Effective tax rate | | :--- | :---------------------------------------- | :----------------- | | 2023 | 27.0 | 28.0% | | 2022 | 32.0 | 32.9% | | 2021 | 5.7 | 3.2% | - The provision for income taxes decreased to **$27.0 million** in 2023 from **$32.0 million** in 2022, primarily due to higher permanent items in 2022 and the release of the valuation allowance on domestic deferred tax assets in 2022[182](index=182&type=chunk) - Total liquidity was **$539.4 million** as of December 31, 2023, including **$280.6 million** in cash and cash equivalents[160](index=160&type=chunk)[201](index=201&type=chunk) - The company anticipates capital expenditures of approximately **$60 million** in 2024[204](index=204&type=chunk) Cash Flows Summary (2021-2023) | Activity | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :----------------------- | :-------- | :-------- | :-------- | | Operating Activities | 125.3 | 134.5 | 196.9 | | Investing Activities | (49.9) | (21.7) | (4.8) | | Financing Activities | (51.9) | (114.6) | (35.3) | | Increase (Decrease) in Cash and Cash Equivalents | 23.5 | (1.8) | 156.8 | - Net cash provided by operating activities decreased to **$125.3 million** in 2023 from **$134.5 million** in 2022, primarily due to higher use of cash for working capital, partially offset by improved profitability[213](index=213&type=chunk) - Net cash used by investing activities increased to **$49.9 million** in 2023 from **$21.7 million** in 2022, mainly due to higher capital expenditures[214](index=214&type=chunk) - Net cash used by financing activities decreased to **$51.9 million** in 2023 from **$114.6 million** in 2022, primarily due to lower repurchases of common shares and Convertible Notes[215](index=215&type=chunk) [Overview](index=25&type=section&id=Overview) This section provides a general overview of Metallus Inc.'s financial performance and operational highlights [Net Sales](index=27&type=section&id=Net%20Sales) Analysis of the company's revenue performance, including key drivers and changes [Gross Profit](index=28&type=section&id=Gross%20Profit) Discussion of gross profit trends and factors influencing profitability [Selling, General and Administrative Expenses](index=29&type=section&id=Selling%2C%20General%20and%20Administrative%20Expenses) Review of SG&A expenses, including changes and underlying causes [Impairment Charges & Loss (Gain) on Sale or Disposal of Assets, net](index=29&type=section&id=Impairment%20Charges%20%26%20Loss%20(Gain)%20on%20Sale%20or%20Disposal%20of%20Assets%2C%20net) Details on impairment charges and gains/losses from asset sales or disposals [Interest (Income) Expense, net](index=29&type=section&id=Interest%20(Income)%20Expense%2C%20net) Analysis of net interest income and expense, including factors affecting it [Other (Income) Expense, net](index=30&type=section&id=Other%20(Income)%20Expense%2C%20net) Review of other non-operating income and expenses, such as pension remeasurements [Provision for Income Taxes](index=31&type=section&id=Provision%20for%20Income%20Taxes) Discussion of income tax provision and effective tax rate changes [Non-GAAP Financial Measures](index=32&type=section&id=Non-GAAP%20Financial%20Measures) Explanation and reconciliation of financial measures not prepared in accordance with GAAP [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) Assessment of the company's cash position, debt, and capital expenditure plans [Critical Accounting Policies and Estimates](index=37&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Overview of significant accounting policies and management's critical judgments [Forward-Looking Statements](index=39&type=section&id=Forward-Looking%20Statements) Disclaimer regarding statements about future events and financial performance [Item 7A. Quantitative and Qualitative Disclosures about Market Risk](index=42&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Metallus Inc. is exposed to market risks from interest rates, foreign currency, and commodity prices, managed through pricing agreements and surcharges - As of December 31, 2023, the company had **$13.3 million** of aggregate debt outstanding, none of which had variable interest rates, thus a rise in interest rates would not impact interest expense at this time[246](index=246&type=chunk) - The company's sales are primarily to customers in the United States, but currency fluctuations can impact raw material prices in foreign countries where competitors operate[247](index=247&type=chunk) - The company is exposed to commodity price risk from raw materials (recycled scrap metal, chrome, nickel, molybdenum oxide, vanadium, other alloys) and energy (natural gas, electricity)[27](index=27&type=chunk)[248](index=248&type=chunk) - Commodity risks are managed through supplier pricing agreements and raw material surcharge mechanisms, which aim to pass through cost increases, though with a potential lag effect[29](index=29&type=chunk)[249](index=249&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=43&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents Metallus Inc.'s audited consolidated financial statements for 2021-2023, with an unqualified audit opinion and detailed notes - Ernst & Young LLP issued an unqualified opinion on Metallus Inc.'s consolidated financial statements and internal control over financial reporting as of December 31, 2023[255](index=255&type=chunk)[256](index=256&type=chunk) - A critical audit matter identified was the accounting for pension and other postretirement benefit obligations due to the highly judgmental nature of actuarial assumptions[260](index=260&type=chunk)[261](index=261&type=chunk) Consolidated Statements of Operations Summary | Metric | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :--------------------- | :-------- | :-------- | :-------- | | Net sales | 1,362.4 | 1,329.9 | 1,282.9 | | Gross Profit | 186.5 | 126.7 | 220.0 | | Selling, general and administrative expenses | 84.6 | 73.8 | 77.2 | | Income (Loss) Before Income Taxes | 96.4 | 97.1 | 176.7 | | Provision (benefit) for income taxes | 27.0 | 32.0 | 5.7 | | Net Income (Loss) | 69.4 | 65.1 | 171.0 | | Basic earnings (loss) per share | 1.58 | 1.42 | 3.73 | | Diluted earnings (loss) per share | 1.47 | 1.30 | 3.18 | Consolidated Balance Sheets Summary (as of Dec 31) | Metric | 2023 ($M) | 2022 ($M) | | :--------------------- | :-------- | :-------- | | Total Current Assets | 656.8 | 556.6 | | Property, plant and equipment, net | 492.5 | 486.1 | | Total Assets | 1,175.3 | 1,082.0 | | Total Current Liabilities | 248.4 | 186.7 | | Total Liabilities | 443.7 | 395.5 | | Total Shareholders' Equity | 731.6 | 686.5 | Consolidated Statements of Cash Flows Summary | Activity | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :----------------------- | :-------- | :-------- | :-------- | | Net Cash Provided (Used) by Operating Activities | 125.3 | 134.5 | 196.9 | | Net Cash Provided (Used) by Investing Activities | (49.9) | (21.7) | (4.8) | | Net Cash Provided (Used) by Financing Activities | (51.9) | (114.6) | (35.3) | | Increase (Decrease) in Cash and Cash Equivalents | 23.5 | (1.8) | 156.8 | - On February 27, 2024, the company entered an agreement with the United States Army for up to **$99 million** in funding to bolster artillery shell production, with new assets targeted to be operational by late 2025[461](index=461&type=chunk) [Reports of Independent Registered Public Accounting Firm](index=44&type=section&id=Reports%20of%20Independent%20Registered%20Public%20Accounting%20Firm) This section contains the audit reports from the independent registered public accounting firm [Consolidated Statements of Operations](index=47&type=section&id=Consolidated%20Statements%20of%20Operations) Presents the company's revenues, expenses, and net income over a period [Consolidated Statements of Comprehensive Income (Loss)](index=48&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Details the company's comprehensive income or loss, including other comprehensive income items [Consolidated Balance Sheets](index=49&type=section&id=Consolidated%20Balance%20Sheets) Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time [Consolidated Statements of Shareholders' Equity](index=50&type=section&id=Consolidated%20Statements%20of%20Shareholders'%20Equity) Shows changes in the company's equity accounts over a period [Consolidated Statements of Cash Flows](index=51&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Reports the cash generated and used by operating, investing, and financing activities [Notes to Consolidated Financial Statements](index=52&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Provides detailed explanations and additional information about the financial statements [Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=85&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) There have been no changes in or disagreements with accountants on accounting and financial disclosure - No changes in or disagreements with accountants on accounting and financial disclosure were reported[463](index=463&type=chunk) [Item 9A. Controls and Procedures](index=85&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2023 - Management concluded that the company's disclosure controls and procedures were effective as of December 31, 2023[464](index=464&type=chunk) - The company's internal control over financial reporting was assessed as effective as of December 31, 2023, based on COSO's 'Internal Control-Integrated Framework (2013 framework)'[466](index=466&type=chunk) - No material changes in internal control over financial reporting occurred during the fourth quarter of 2023[467](index=467&type=chunk) [Item 9B. Other Information](index=85&type=section&id=Item%209B.%20Other%20Information) During Q4 2023, officers adopted Rule 10b5-1 trading arrangements, and the company formally changed its corporate name to 'Metallus Inc.' effective February 26, 2024 - Officers adopted Rule 10b5-1 trading arrangements in Q4 2023 for potential sales of common shares upon vesting of performance-based and time-based restricted stock units[468](index=468&type=chunk)[469](index=469&type=chunk) - On February 26, 2024, the company amended its Articles of Incorporation and Code of Regulations to change its corporate name to **'Metallus Inc.'**[470](index=470&type=chunk)[471](index=471&type=chunk) PART III [Item 10. Directors, Executive Officers and Corporate Governance](index=87&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's 2024 Annual Meeting of Shareholders proxy statement - Information on directors, executive officers, and corporate governance is incorporated by reference from the proxy statement for the 2024 Annual Meeting of Shareholders[474](index=474&type=chunk) - The company's Corporate Governance Guidelines and committee charters are available on its website, as is the Metallus Code of Conduct, which applies to all employees and directors[475](index=475&type=chunk)[476](index=476&type=chunk) [Item 11. Executive Compensation](index=87&type=section&id=Item%2011.%20Executive%20Compensation) Details on executive compensation are incorporated by reference from the company's proxy statement for the 2024 Annual Meeting of Shareholders - Information on executive compensation is incorporated by reference from the proxy statement for the 2024 Annual Meeting of Shareholders[477](index=477&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=87&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding beneficial ownership and equity compensation plans is incorporated by reference from the proxy statement and Item 5 of this report - Information on security ownership of beneficial owners and management, and related stockholder matters, is incorporated by reference from the proxy statement and Item 5 of this report[478](index=478&type=chunk) [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=87&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information concerning director independence and related-party transaction policies is incorporated by reference from the company's 2024 Annual Meeting of Shareholders proxy statement - Information on certain relationships, related transactions, and director independence is incorporated by reference from the proxy statement for the 2024 Annual Meeting of Shareholders[479](index=479&type=chunk) [Item 14. Principal Accounting Fees and Services](index=88&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding fees paid to and services provided by the independent auditor is incorporated by reference from the company's 2024 Annual Meeting of Shareholders proxy statement - Information on principal accounting fees and services is incorporated by reference from the proxy statement for the 2024 Annual Meeting of Shareholders[480](index=480&type=chunk) PART IV [Item 15. Exhibits, Financial Statement Schedules](index=89&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all exhibits and financial statement schedules, including Schedule II – Valuation and Qualifying Accounts, detailing allowances and reserves for 2021-2023 - Financial Statements are included in Part II, Item 8 of the Annual Report on Form 10-K[482](index=482&type=chunk) - Schedule II - Valuation and Qualifying Accounts is submitted separately, detailing allowances for uncollectible accounts, inventory reserves, and valuation allowance on deferred tax assets[482](index=482&type=chunk)[488](index=488&type=chunk) Allowance for Uncollectible Accounts | Metric | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :------------------------- | :-------- | :-------- | :-------- | | Balance at Beginning of Period | 1.0 | 1.9 | 1.3 | | Charged to Costs and Expenses | 1.2 | — | 0.6 | | Deductions | (0.2) | (0.9) | — | | Balance at End of Period | 2.0 | 1.0 | 1.9 | Allowance for Inventory Reserves | Metric | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :------------------------- | :-------- | :-------- | :-------- | | Balance at Beginning of Period | 0.5 | 0.8 | 13.9 | | Charged to Costs and Expenses | 1.1 | 0.5 | 2.8 | | Deductions | (0.9) | (0.8) | (15.9) | | Balance at End of Period | 0.7 | 0.5 | 0.8 | Valuation Allowance on Deferred Tax Assets | Metric | 2023 ($M) | 2022 ($M) | 2021 ($M) | | :------------------------- | :-------- | :-------- | :-------- | | Balance at Beginning of Period | 13.0 | 15.5 | 47.7 | | Charged to Costs and Expenses | 2.5 | — | — | | Charged to Other Accounts | — | — | 4.8 | | Deductions | — | (2.5) | (37.0) | | Balance at End of Period | 15.5 | 13.0 | 15.5 | [Signatures](index=93&type=section&id=Signatures) The report is duly signed by Metallus Inc.'s executive officers and directors on February 28, 2024 - The report is signed by Michael S. Williams (President and CEO), Kristopher R. Westbrooks (EVP and CFO), and Nicholas A. Yacobozzi (Chief Accounting Officer), along with other directors, on February 28, 2024[493](index=493&type=chunk)[494](index=494&type=chunk)

Net Sales Performance - Q4 2023 net sales of $328.1 million, a 7% decrease from Q3 2023's $354.2 million, primarily due to lower shipments and raw material surcharge revenue[11] - Full-year 2023 net sales increased 2% to $1.4 billion, driven by higher base sales prices, partially offset by lower raw material surcharge revenue and shipments[12] - Net sales for Q4 2023 increased to $328.1 million, up 33.7% from $245.4 million in Q4 2022[26] - Full-year net sales for 2023 reached $1,362.4 million, a 2.4% increase from $1,329.9 million in 2022[26] - Net sales for Q1 2023 were $323.5 million, down 8.1% from $352.0 million in Q1 2022, with base sales declining 1.1% to $240.7 million[66] - Full-year 2023 net sales reached $1,362.4 million, a 2.4% increase from $1,329.9 million in 2022, with base sales growing 11.8% to $1,022.1 million[67] Net Income and Profitability - Q4 2023 net income of $1.3 million, compared to a net loss of $33.2 million in Q4 2022[4] - Full-year 2023 net income of $69.4 million, up from $65.1 million in 2022[10] - Net income for Q4 2023 was $1.3 million, compared to a net loss of $33.2 million in Q4 2022[26] - Full-year net income for 2023 increased to $69.4 million, up 6.6% from $65.1 million in 2022[26] - Net income for Q4 2023 was $1.3 million, compared to a net loss of $33.2 million in Q4 2022[30] - Adjusted net income for Q4 2023 was $16.5 million, compared to an adjusted net loss of $4.6 million in Q4 2022[35] - Adjusted net income for the year ended December 31, 2023 was $89.8 million, compared to $94.2 million in 2022[44] - Net income margin for 2023 was 5.1%, up from 4.9% in 2022[53] EBITDA and Adjusted EBITDA - Q4 2023 adjusted EBITDA of $35.7 million, down from $46.8 million in Q3 2023[2][3] - Full-year 2023 adjusted EBITDA of $169.0 million, slightly down from $172.2 million in 2022[10] - Adjusted EBITDA for full-year 2023 was $169 million, slightly down from $172 million in 2022, with price/mix contributing $88 million to the change[72] - Adjusted EBITDA for 2023 was $169.0 million, with a margin of 12.4%, slightly lower than $172.2 million and 12.9% margin in 2022[53] Cash Flow and Liquidity - Q4 2023 operating cash flow of $74.1 million, with full-year operating cash flow of $125.3 million[13] - Total liquidity of $539.4 million as of December 31, 2023, including $280.6 million in cash and cash equivalents[13] - Cash and cash equivalents as of December 31, 2023, stood at $280.6 million, up 9.1% from $257.2 million in 2022[29] - Net cash provided by operating activities for Q4 2023 was $74.1 million, up from $23.7 million in Q4 2022[30] - Free cash flow for Q4 2023 was $58.7 million, compared to $12.3 million in Q4 2022[32] - Total cash, cash equivalents, and restricted cash at the end of Q4 2023 was $281.3 million, up from $257.8 million at the end of Q4 2022[30] - Total liquidity increased to $539.4 million in 2023, up from $490.7 million in 2022, driven by higher cash and cash equivalents and available borrowing capacity[70] Segment Performance - Aerospace & defense net sales increased 44% to $115.0 million in 2023, representing 8% of consolidated net sales[12] - Aerospace & Defense segment was separated from the Industrial segment in Q4 2023 for better visibility into growth areas, with retrospective adjustments applied for comparability[61] - Total Ship Tons in Q4 2023 reached 157.6 thousand, with Net Sales of $328.1 million, up from 128.3 thousand Ship Tons and $245.4 million Net Sales in Q4 2022[63] - Aerospace & Defense segment showed significant growth, with Ship Tons increasing from 7.0 thousand in Q4 2022 to 18.5 thousand in Q4 2023, and Net Sales rising from $24.9 million to $44.1 million[63] - Base Sales per Ton in Q4 2023 were $1,658, up from $1,488 in Q4 2022, driven by strong performance in Aerospace & Defense ($2,065 per Ton) and Energy ($1,961 per Ton)[63] - Automotive segment Ship Tons remained stable at 67.4 thousand in Q4 2023, with Net Sales increasing to $127.1 million from $112.1 million in Q4 2022[63] - Industrial segment Ship Tons grew to 58.7 thousand in Q4 2023, up from 40.5 thousand in Q4 2022, with Net Sales rising to $118.0 million from $74.6 million[63] - Energy segment Ship Tons remained steady at 13.0 thousand in Q4 2023, with Net Sales increasing to $32.7 million from $29.3 million in Q4 2022[63] - Net Sales per Ton in Q4 2023 were $2,082, up from $1,913 in Q4 2022, driven by higher pricing and product mix improvements[63] - Aerospace & Defense segment Net Sales per Ton surged to $2,384 in Q4 2023, up from $3,557 in Q4 2022, reflecting strong demand and pricing power[63] - Aerospace & Defense segment net sales per ton increased to $2,486 in Q1 2023, up 12.7% from $2,261 in Q1 2022[66] - Energy segment net sales per ton rose to $2,387 in 2023, a 10.3% increase from $2,165 in 2022[67] - Automotive segment ship tons decreased to 80.4 thousand in Q1 2023, down 9.6% from 88.9 thousand in Q1 2022[66] - Industrial segment base sales per ton grew to $1,459 in 2023, up 16.0% from $1,258 in 2022[67] Costs and Expenses - Surcharges per Ton in Q4 2023 were $424, slightly down from $425 in Q4 2022, reflecting stable pricing adjustments across segments[63] - Surcharges per ton across all segments averaged $479 in Q1 2023, a 13.4% decrease from $553 in Q1 2022[66] - Manufacturing costs negatively impacted Adjusted EBITDA by $21 million in 2023 compared to 2022[72] - Pension and postretirement expense for Q4 2023 was $40.7 million, compared to $4.2 million in Q4 2022[30] - The company incurred $0.5 million in rebranding costs in Q4 2023 related to its name change to Metallus Inc.[38] - IT transformation costs were $4.3 million in 2023, primarily related to professional service fees for technology modernization[46][56] - Rebranding costs in 2023 were $1.0 million, associated with the company's name change to Metallus Inc.[47][56] Insurance Recoveries and Other Items - The company recognized a $20.0 million insurance recovery in Q4 2023 related to unplanned downtime at the Faircrest melt shop in 2022[38] - The company recognized an insurance recovery of $31.3 million in 2023 related to unplanned operational downtime in 2022[47][57] Shareholder Equity and Assets - Total assets increased to $1,175.3 million in 2023, up 8.6% from $1,082.0 million in 2022[29] - Total current liabilities rose to $248.4 million in 2023, up 33.0% from $186.7 million in 2022[29] - Shareholders' equity increased to $731.6 million in 2023, up 6.6% from $686.5 million in 2022[29] Earnings Per Share - Adjusted diluted earnings per share for Q4 2023 was $0.36, compared to an adjusted diluted loss per share of $0.10 in Q4 2022[35] - Adjusted diluted earnings per share for 2023 was $1.91, slightly higher than $1.87 in 2022[44] - Total diluted weighted average shares outstanding for 2023 was 47.8 million, down from 51.5 million in 2022[44][50] Capital Expenditures - Capital expenditures for Q4 2023 were $15.4 million, up from $11.4 million in Q4 2022[30] EBIT and Margins - EBIT for 2023 was $89.3 million, with an EBIT margin of 6.6%, compared to $97.7 million and 7.3% margin in 2022[53] - Adjusted EBIT margin for 2023 was 8.3%, compared to 8.6% in 2022[53] Gross Profit - Gross profit for Q4 2023 was $41.4 million, a significant improvement from a loss of $20.3 million in Q4 2022[26] - Full-year gross profit for 2023 rose to $186.5 million, up 47.2% from $126.7 million in 2022[26] Future Outlook - Q1 2024 adjusted EBITDA expected to be slightly lower than Q4 2023's $35.7 million[15]

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 ...

Financial Data and Key Metrics Changes - In Q2 2023, net sales totaled $356.6 million, a sequential increase of 10% from $323.5 million in Q1 2023, but a decrease from $415.7 million in Q2 2022 [17] - Net income for Q2 2023 was $28.9 million, or $0.62 per diluted share, compared to $14.4 million, or $0.30 per diluted share in Q1 2023, and $74.5 million, or $1.42 per diluted share in Q2 2022 [17] - Adjusted EBITDA was $50.5 million in Q2 2023, a 40% increase from Q1 2023, but a decrease of $33.7 million from the record $84.2 million in Q2 2022 [19][20] - Operating cash flow was $13.3 million, marking the 17th consecutive quarter of positive operating cash flow [28] Business Line Data and Key Metrics Changes - Shipments in Q2 2023 were 177,500 tons, a 3% increase from Q1 2023 [22] - Industrial shipments increased by 9% sequentially to 78,400 tons, driven by demand in defense and mining sectors [12][22] - Mobile customer shipments were 79,500 tons, a slight decrease of 1% from Q1 2023 [23] - Energy shipments were relatively flat, totaling 19,600 tons, a 3% decrease from Q1 2023 [23] Market Data and Key Metrics Changes - Base sales in EV-related products grew by 77% year-over-year, with the company awarded approximately 20 essential component parts for EVs [9] - The average raw material surcharge per ton increased by 22% due to higher scrap and alloy prices [25] Company Strategy and Development Direction - The company plans to invest $5 million in two additional manufactured component machining lines to support EV component production, expected to be operational by late 2024 [10] - The company aims to achieve $80 million in profitability improvement initiatives by 2026, focusing on commercial excellence and manufacturing reliability [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about ongoing positive macroeconomic trends, particularly in electric and hybrid vehicle production [9] - The company anticipates modest increases in industrial and mobile sales, with energy demand expected to remain flat [38] Other Important Information - The company invested approximately $4 million in safety training and programs in the first half of 2023, part of a total commitment of $7 million for the year [7] - Capital expenditures for 2023 are forecasted to be approximately $50 million, up from a previous estimate of $45 million [29] Q&A Session Summary Question: Outlook for industrial growth in the second half of the year - Management expects modest increases in industrial sales, particularly in the defense sector, while energy demand is anticipated to remain flat [38] Question: Ability to track new business and customer captures - Management noted solid growth in EV products but indicated limited new customer captures [40] Question: Expectations for melt utilization in Q3 - Management believes reaching 80% melt utilization is reasonable, with positive improvements already observed [45] Question: Raw material spread expectations for Q3 - Management expects further compression on the raw material spread in Q3 due to the volatility of scrap prices [42] Question: Details on new machining lines and future demand - The investment in new lines is specifically aimed at the EV market, aligning capabilities with increasing demand [47]

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 ...

Financial Performance - Net sales for the year ended December 31, 2022, were $1,329.9 million, an increase from $1,282.9 million in 2021, representing a growth of 3.3%[265] - Gross profit decreased to $126.7 million in 2022 from $220.0 million in 2021, reflecting a decline of 42.4%[265] - Net income for 2022 was $65.1 million, down from $171.0 million in 2021, indicating a decrease of 61.9%[265] - Comprehensive income for 2022 was $59.1 million, down from $151.3 million in 2021[267] - Income from operations before income taxes for 2022 was $97.1 million, a decrease from $176.7 million in 2021[344] - The provision for income taxes for 2022 was $32.0 million, compared to $5.7 million in 2021, reflecting an effective tax rate of 32.9%[346] - For the year ended December 31, 2022, net income was $65.1 million, a decrease from $171.0 million in 2021, while diluted earnings per share were $1.30 compared to $3.18 in 2021[365] Assets and Liabilities - Total assets decreased to $1,082.0 million in 2022 from $1,158.9 million in 2021, reflecting a decline of approximately 6.5%[269] - Total current liabilities decreased to $186.7 million in 2022, down 25.6% from $250.8 million in 2021[269] - The company's aggregate defined benefit pension and other postretirement benefit obligation was $754.0 million as of December 31, 2022, exceeding the fair value of plan assets of $608.6 million, resulting in an unfunded obligation of $145.4 million[252] - The company’s long-lived assets decreased to $503.6 million in 2022 from $531.4 million in 2021, indicating a reduction in asset value[317] - The total pension accumulated benefit obligation for all plans was $660.6 million as of December 31, 2022, compared to $1,303.2 million in 2021[429] Cash Flow and Capital Expenditures - Cash and cash equivalents at the end of 2022 were $257.8 million, slightly down from $259.6 million at the end of 2021[274] - Net cash provided by operating activities was $134.5 million in 2022, a decrease of 31.5% from $196.9 million in 2021[274] - Capital expenditures for 2022 were $27.1 million, an increase from $12.2 million in 2021[274] Debt and Financing - As of December 31, 2022, the company had $20.8 million of aggregate debt outstanding, with none having variable interest rates, thus insulating it from immediate interest rate increases[240] - The Company entered into a Fourth Amended and Restated Credit Agreement providing for a $400.0 million asset-based revolving credit facility[379] - The Company has a Credit Facility with an available amount of $233.5 million as of December 31, 2022, with no outstanding borrowings[387] - The interest rate on the Credit Facility is variable, with a 1.00% floor for the Alternate Base Rate and a 0.00% floor for the Adjusted Term SOFR Rate[381] - The Company repurchased $25.2 million of outstanding principal related to Convertible Notes, reducing weighted average diluted shares outstanding by 2.3 million shares for the year ended December 31, 2022[362] Pension and Postretirement Benefits - The benefit obligation for pension and postretirement plans at the end of 2022 was $666.6 million, with significant actuarial gains primarily due to an increase in discount rates[420] - The fair value of plan assets at the end of 2022 was $549.4 million, resulting in a funded status of $(117.2) million[423] - The total liabilities recognized on the balance sheet for pension and postretirement benefit plans were $(117.3) million as of December 31, 2022[430] - The net periodic benefit cost (income) for the year ended December 31, 2022, was $(23.4) million, compared to $(28.8) million in 2021, indicating a decrease of 18.6%[433] Shareholder Activities - The company repurchased $52.0 million in treasury shares during 2022[274] - The Company has authorized a share repurchase program of up to $75.0 million as of November 2, 2022, reflecting confidence in sustainable profitability[408] - For the year ended December 31, 2022, the Company repurchased approximately 3.0 million common shares at an aggregate cost of $52.0 million, averaging $17.18 per share[409] Operational Highlights - TimkenSteel's annual melt capacity is approximately 1.2 million tons and shipment capacity is approximately 0.9 million tons after idling the Harrison melt and casting assets[277] - The Company recognizes revenue from contracts at a point in time when it has satisfied its performance obligation[281] - TimkenSteel's production facilities include three manufacturing locations in Canton, Ohio, and two downstream facilities in North Carolina and Ohio[276] Risk Management - The company has implemented supplier pricing agreements to manage exposure to commodity price risks, particularly for raw materials and energy[243] - The company is exposed to commodity price fluctuations, particularly due to the ongoing Russia-Ukraine conflict, which could lead to market disruptions[242]

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 ...