TimkenSteel Corporation (NYSE:TMST) Q2 2023 Earnings Conference Call August 4, 2023 9:00 AM ET

Company Participants

Jennifer Beeman - Director of Communications and Investor Relations

Michael Williams - President and Chief Executive Officer

Kristopher Westbrooks - Chief Financial Officer

Conference Call Participants

John Franzreb - Sidoti & Company, LLC

Operator

Good morning. My name is Chris, and I’ll be your conference operator today. At this time, I’d like to welcome everyone to the TimkenSteel Corporation Q2 2023 Earnings Call. [Operator Instructions] After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you, Jennifer Beeman, Director of Communications and Investor Relations. You may begin.

Jennifer Beeman

Good morning, and welcome to TimkenSteel’s second 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 reconciliation to its GAAP equivalents are also included in the earnings release.

With that, I’d like to turn the call over to Mike. Mike?

Michael Williams

Good morning, everyone, and thank you for joining us today. First, I’d like to thank our employees for their hard work and unwavering dedication to TimkenSteel. Because of their ongoing focus on safety and enhancing productivity, the company generated continued positive momentum during the second quarter. Thanks to these efforts, we realized sequential improvement in shipments and profitability. It’s worth noting that our consistent positive operating cash flow trend remains strong, allowing us to strategically invest in the growth of our business and deploy our capital allocation strategy, while maintaining a healthy balance sheet.

As we progress on our journey to foster a culture deeply rooted in safety, we remain focused on bolstering machine guarding, fencing and our lockout/tagout programs alongside an array of comprehensive training initiatives throughout the organization. When it comes to the safety of our employees, we believe we can never over-communicate or over-trained anyone.