TimkenSteel -12% after forecasting Q1 EBITDA below guidance

|About: TimkenSteel Corp. (TMST)|By:, SA News Editor

TimkenSteel (TMST -12.4%) plunges after cutting its Q1 EBITDA outlook while forecasting sales above analyst expectations.

After Thursday's market close, TMST said it expects Q1 EBITDA of $17M, lower than its original guidance for $25M-$35M, while seeing Q1 net sales of $309M vs $297M analyst consensus on 280K ship tons and a ~$5M net loss, compared with Q4 2016 net sales of $215M and a net loss of $67M.

TMST says the ~$15M improvement in Q/Q structural EBITDA was below expectations due to the timing of capturing manufacturing leverage.