TimkenSteel expects better 1st quarter performance

TimkenSteel Corp. says its first quarter financial performance will be better than it previously forecast. The Canton steel maker on Tuesday said it expects first quarter earnings before taxes, depreciation and amortization to range from a loss of $5 million to break-even in large part because of better than expected cost and manufacturing performance. The company in late January said it had expected to lose between $10 million and $20 million for the quarter.