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CANTON – Higher demand from its automotive and industrial customers helped TimkenSteel report a profitable first quarter. The company also announced more changes in upper-level management, electing a new chairman and reducing the executive vice president ranks. On Wednesday, the board appointed Ronald A. Rice, who has been a director since 2015, as chairman. He replaces John P. Reilly who retired. Reilly had been a board member at Timken Co. and moved to TimkenSteel's board when it was created after the split into two companies. Management changes include appointing Kevin A. Raketich�...

Share this article Share this article CANTON, Ohio, May 6, 2021 /PRNewswire/ -- TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today reported first-quarter 2021 net sales of $273.6 million and net income of $9.8 million, or $0.20 per diluted share. On an adjusted basis (1), first-quarter 2021 net income was $22.6 million, or $0.43 per diluted share, and adjusted EBITDA was $40.8 million. In the same quarter last year, net sales were $259.7 million with a net loss of $19.9 million, or a loss of $0.44 per diluted share. On an adjusted basis (1), first-quar...