CANTON, Ohio (AP) _ TimkenSteel Corp. (TMST) on Thursday reported a first-quarter loss of $19.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Canton, Ohio-based company said it had a loss of 44 cents. Losses, adjusted for non-recurring costs, were 25 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The maker of steel large bars and seamless mechanical tubing posted revenue of $259.7 million in the period.
In the final minutes of trading on Thursday, the company's shares hit $2.49. A year ago, they were trading at $9.81.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TMST at https://www.zacks.com/ap/TMST
Automated Insights, source Associated Press News