TimkenSteel Corp (NYSE:TMST) Q3 2022 Earnings Conference Call November 4, 2022 9:00 AM ET

Company Participants

Jennifer Beeman - Director, Communications & IR

Mike Williams - CEO, President & Director

Kristopher Westbrooks - EVP & CFO

Kevin Raketich - Executive Vice President and Chief Commercial Officer

Conference Call Participants

Phil Gibbs - KeyBanc Capital Markets

Operator

Ladies and gentlemen, good morning. My name is Abby and I will be your conference operator torday. At this time, I would like to welcome everyone to the TimkenSteel Third Quarter 2022 Earnings Conference Call. Today’s conference is being recorded and all lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. And I will now turn the conference over to Jennifer Beeman. You may begin.

Jennifer Beeman

Thanks, and good morning, and welcome to TimkenSteel's third quarter 2022 conference call. I am 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 of Sales, Marketing and Business Development.

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

Thank you, Jennifer, and I appreciate everyone joining us this morning. Our financial performance in the third quarter was notably impacted by the July incident at our melt shop. However, I am encouraged that demand in our markets, mobile, industrial, energy remains robust now and into the foreseeable future.

Currently, we have customer order backlog in excess of 300,000 ship tons and the majority of our 2023 production capacity is allocated to customers. We are experiencing a positive trend in base sales pricing, which we expect to continue into 2023 and our balance sheet is strong. I am confident that this momentum, along with the execution of our strategic imperatives will position us for long-term success.