TimkenSteel Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the year, the company reported net sales of $1,329.2 million against $869.5 million a year ago. Loss before interest and taxes was $28.0 million against $130.6 million a year ago. Loss before income taxes was $42.8 million against $142.0 million a year ago. Net loss was $44.3 million or $1.00 per basic and diluted share against $105.5 million or $2.39 per basic and diluted share a year ago. Net cash provided by operating activities was $10.9 million against $74.4 million a year ago. Capital expenditures were $35.8 million against $42.7 million a year ago. Adjusted LBIT was $6.2 million against $50.9 million a year ago. Adjusted EBITDA was $68.7 million, compared with $24.0 million a year ago. Net debt as at December 31, 2017 was $140.8 million against $111.0 million a year ago.

For the quarter, the company reported net sales of $341.4 million against $214.7 million a year ago. Loss before interest and taxes was $34.1 million against $76.6 million a year ago. Loss before income taxes was $34.1 million against $80.0 million a year ago. Net loss was $34.4 million or $0.77 per basic and diluted share against $67.0 million or $1.52 per basic and diluted share a year ago. Net cash provided by operating activities was $22.6 million against $18.9 million a year ago. Capital expenditures were $23.9 million against $16.6 million a year ago. Adjusted LBIT was $10.8 million against $17.3 million a year ago. Adjusted EBITDA $7.7 million against $1.5 million a year ago.

For the first quarter of 2018, the company's shipments are expected to be between 3% and 6 higher than fourth-quarter 2017 due to first-quarter seasonality. Earnings are projected to be between a net loss of $3 million and net income of $7 million. EBITDA is projected to be between $20 million and $30 million.

For the year 2018, the company's capital spending is projected to be $40 million.