Timken (TKR) Stock

NORTH CANTON, Ohio, Dec. 13, 2024 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a worldwide leader in engineered bearings and industrial motion, celebrated its 125th anniversary by ringing the opening bell at the New York Stock Exchange (NYSE). President and CEO Tarak Mehta, along with the board of directors and company leaders, participated in the event at the NYSE, where Timken has been listed since 1922.

NORTH CANTON, Ohio, Dec. 4, 2024 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial motion, has been named one of America's Most Responsible Companies by Newsweek and Statista Inc. for the fifth consecutive year. This recognition highlights the company's ongoing dedication to enhancing the lives of people and communities, protecting the environment, and boosting its business through corporate social responsibility (CSR).

Timken has reported a decrease in both revenue and profit in the third quarter compared to the previous year, due to low sales volumes.

Timken (TKR) reported quarterly earnings of $1.23 per share, which is lower than the Zacks Consensus Estimate of $1.37 per share. This is a decrease compared to earnings of $1.55 per share from the same period last year.

The Timken Company announced third-quarter sales of $1.13 billion, which is a 1.4 percent decrease compared to last year. Their earnings per share for the quarter were $1.16, with an adjusted EPS of $1.23. The company has updated its full-year 2024 forecast, now expecting an EPS between $4.65 and $4.75, and an adjusted EPS between $5.55 and $5.65.

The Timken Company's stock price is predicted to increase by almost 6% over the next year, thanks to a stable market for wind energy in China, new product launches, and better productivity. As a top player in engineered bearings and industrial motion products, Timken has strong competitive edges and good financial performance. Although there are some short-term difficulties, the company's growth outlook looks bright, with encouraging signs for 2025 and later.

TKR has finished its planned purchase of CGI to enhance its skills and abilities.

NORTH CANTON, Ohio, Sept. 10, 2024 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a worldwide leader in engineered bearings and industrial motion technology, has finished its planned purchase of CGI, Inc. CGI, Inc. produces precision drive systems that cater to various automation markets, especially in medical robotics.

NORTH CANTON, Ohio, Aug. 7, 2024 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a worldwide leader in engineered bearings and industrial motion technology, has announced that Todd M. Leombruno has been appointed to its Board of Directors.