TimkenSteel Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net sales of $206.6 million compared to $408.3 million a year ago. Loss before Interest and taxes was $38.0 million compared to EBIT of $23.3 million a year ago. Loss before income tax was $39.4 million compared to income before income tax of $23.3 million a year ago. Net loss was $25.5 million compared to net income of $16.4 million a year ago. Basic and diluted net loss per share was $0.58 compared to basic and diluted net income per share of $0.36 a year ago. Net cash provided by operating activities was $43.3 million compared to $25.4 million a year ago. Capital expenditures were $25.3 million compared to $46.5 million a year ago. Net debt as of December 31, 2015 was $157.8 million. Free cash flow was $18.0 million compared to negative free cash flow of $21.1 million a year ago. Adjusted LBIT was $38.0 million compared to adjusted EBIT of $23.3 million a year ago. Adjusted net loss was $25.5 million compared to adjusted net income of $16.4 million a year ago. Adjusted diluted loss per share was $0.58 compared to adjusted diluted net income per share of $0.36 a year ago.

For the full year, the company reported net sales of $1,106.2 million compared to $1,674.2 million a year ago. Loss before Interest and taxes was $113.6 million compared to EBIT of $159.1 million a year ago. Loss before income tax was $117.0 million compared to income before income tax of $158.2 million a year ago. Net loss was $73.7 million compared to net income of $104.4 million a year ago. Basic and diluted net loss per share was $1.65 compared to basic and diluted net income per share of $2.27 a year ago. Net cash provided by operating activities was $107.1 million compared to $93.9 million a year ago. Capital expenditures were $78.2 million compared to $129.6 million a year ago. Free cash flow was $28.9 million compared to negative free cash flow of $35.7 million a year ago. Adjusted LBIT was $113.6 million compared to adjusted EBIT of $147.7 million a year ago. Adjusted net loss was $73.7 million compared to adjusted net income of $96.6 million a year ago. Adjusted diluted loss per share was $1.65 compared to adjusted diluted net income per share of $2.10 a year ago.

The company provided earnings guidance for the first quarter and full year of 2016. For the quarter, the company expects shipments approximately 5% higher than fourth-quarter 2015. EBITDA expects between a loss of $10 million and a loss of $20 million.

For the full year, the company expects capital spending to be $45 million.