TimkenSteel Corporation (NYSE:TMST) Q3 2023 Earnings Conference Call November 3, 2023 9:00 AM ET
Company Participants
Jennifer Beeman - Director of Communications and Investor Relations
Mike Williams - President and CEO
Kris Westbrooks - Executive Vice President and CFO
Kevin Raketich - Executive Vice President and Chief Commercial Officer
Conference Call Participants
John Franzreb - Sidoti & Company
Philip Gibbs - KeyBanc Capital Markets
Operator
Good morning, and welcome to TimkenSteel's Third Quarter 2023 Conference Call. All participants are in a listen-only mode. After the speakers' presentation, we will conduct a question-and-answer session. As a reminder, this conference call is being recorded.
I would now like to turn the call over to Jennifer Beeman, Director of Communications and Investor Relations. Thank you. Please go ahead.
Jennifer Beeman
Good morning, and welcome to TimkenSteel's third quarter 2023 conference call. I'm Jennifer Beeman, Director of Communications and Investor Relations for TimkenSteel. Joining me today is Mike Williams, President and Chief Executive Officer; Kris Westbrooks, Executive Vice President and Chief Financial Officer; and Kevin Raketich, Executive Vice President and Chief Commercial Officer. You all should have received a copy of our press release, which was issued last night.
During today's conference call, we may make forward-looking statements as defined by the SEC. Our actual results may differ materially from those projected or implied due to a variety of factors, which we describe in greater detail in yesterday's release. Please refer to our SEC filings including our most recent Form 10-K and Form 10-Q and the list of factors included in our earnings release, all of which are available on the TimkenSteel website. Where non-GAAP financial information is referenced, additional details and reconciliations to its GAAP equivalent are also included in the earnings release.
With that, I'd like to turn the call over to Mike. Mike?
Mike Williams
Good morning, everyone, and thank you for joining us today. First and foremost, I'd like to thank our employees for their hard work and collaborative spirit as we continue to chart new pathways for growth. Our firm commitment to safety is beginning to show results and are focused on strengthening our culture and fostering teamwork across our commercial, supply chain and manufacturing operations resulted in a solid profitability while meeting the needs of our customers.
Additionally, we continue to repurchase shares while strategically reinvesting in our business. The enhanced collaboration we've seen both with the United Steelworkers and within our teams is fueling our never-ending pursuit of manufacturing excellence and helping us to create a lasting culture of safety. In October, we launched our second employee safety survey for all employees. Results from this survey will help us improve hazard awareness, improve our engagement, build a safety-centric mindset and gain valuable insights from employees for continued safety improvements. However, to encourage good safety ideas, it is essential that we provide concrete support. In 2023, we spent approximately $8 million on safety CapEx projects and $1 million in safety training.