TimkenSteel reports 1Q loss

TimkenSteel Corp. (TMST) reported a first-quarter loss of $13.6 million, after reporting a profit in the same period a year earlier. The Canton, Ohio-based company said it had a loss of 31 cents per share. The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share. The maker of steel large bars and seamless mechanical tubing posted revenue of $217.9 million in the period. TimkenSteel shares have increased 53 percent since the beginning of the year. The stock has decreased 53 percent in the last 12 months.