TimkenSteel posts strong sales, earnings

Jul 31, 2014 | 02:46 PM | Nat Rudarakanchana

Tags  TimkenSteel, steel, alloy, specialty steel, special bar quality, SBQ, seamless tube, pipe and tube earnings report

NEW YORK — TimkenSteel Corp.’s sales and earnings rose in the second quarter ahead of its separation from former parent Timken Co., a positive first sign for its full-year targets.

The Canton, Ohio-based special bar quality (SBQ) and seamless tube producer posted net income of $28.6 million for the three months ended June 30, up 13 percent from the same period last year on sales that jumped 24.9 percent to $442.2 million. Sales by TimkenSteel’s energy and distribution segment jumped 44.1 percent to $187.5 million from a year....

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