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Now, management needs to work on night shift safety. Both accidents this year have been at night.
- Third quarter net sales of $343.7 million increased 5 percent sequentially
- Net income of $50.1 million and record adjusted EBITDA(1) of $72.0 million
- Strong operating cash flow of $53.8 million, a 37 percent sequential improvement, with record total liquidity(2) of $444.4 million
CANTON, Ohio, Nov. 4, 2021 /PRNewswire/ -- TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported third-quarter 2021 net sales of $343.7 million and net income of $50.1 million, or $0.94 per diluted share. On an adjusted basis(1), third-quarter 2021 net income was $55.2 million, or $1.04 per diluted share, and adjusted EBITDA was $72.0 million.
It could not possibly be better.
Zacks Rank: TimkenSteel currently carries a Zacks Rank #4 (Sell).
??? Feels like all the news and analysts are down on steel despite great earnings and outlook. There must be some big players trying to short. Hope they get squeezed.
It is also important to note the recent changes to analyst estimates for TimkenSteel. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Analysts upgrades
This stock is going to $20 soon