TimkenSteel Corporation provided earnings guidance for the first quarter of 2022. Surcharge revenue per ton is expected to decline in the first-quarter of 2022 as a result of a lower No. 1 busheling scrap index compared with the fourth-quarter of 2021.

Inflationary pressure is anticipated on commodities and consumables. Operating cash flow is expected to be near breakeven in the first-quarter of 2022 primarily driven by higher working capital and the cash payment of approximately $19 million of variable compensation earned in 2021. Capital expenditures are expected to be approximately $40 million in 2022.