ADVFN - Advanced Financial Network.
HOME» NYSE » T » TKR Stock Price » TKR Stock News

Timken Share News

 Timken Co. (the) Stock Price
TKR Stock Price
 Timken Co. (the) Stock Chart
TKR Stock Chart
 Timken Co. (the) Stock News
TKR Stock News
 Timken Co. (the) Company Information
TKR Company Information
 Timken Co. (the) Stock Trades
TKR Stock Trades

Timken 4Q Loss Narrows Amid Cost Cuts, Higher Prices

DOW JONES NEWSWIRES Timken Co.'s (TKR) fourth-quarter loss narrowed as the company benefited from better pricing, cost cutting and lower material expenses. The maker of bearings and specialty steel products also projected 2010 earnings of 85 cents to $1.15 a share and sees sales rising 5% to 10%, driven by stronger steel shipments as customers are expected to rebuild inventory levels. Analysts surveyed by Thomson Reuters expected earnings of $1.07 per share on sales of $3.37 billion, or up 9%. Timken has been cutting costs amid an industrywide slump in steel demand among its key buyers, including the automotive, construction and industrial-equipment sectors. Late last year, the company completed the sale of its needle roller bearings business to Japan's JTEKT Corp. (6473.TO), receiving $330 million from the transaction. On Tuesday, Timken reported a loss of $20.2 million, or 21 cents a share, compared with a year-earlier loss of $36.2 million, or 37 cents a share. Excluding write-downs in the latest quarter and other impacts, earnings surged to 40 cents from 7 cents. Revenue tumbled 29% to $774.6 million. Wall Street expected earnings of 8 cents on revenue of $727 million. Gross margin grew to 22.4% from 16.2%. Sales in the bearings and transmission group, its largest business, were down 18% although profit jumped 50%. Sales also fell in all of its other units. Shares closed Monday at $24.10 and were inactive in premarket trading. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stock News for Timken (TKR)
01/19/201709:15:00Timken to Announce Fourth-Quarter and Full-Year 2016 Financial...
12/01/201608:30:00Timken Expands Product Lines, Updates Catalogs for Housed Units...
11/11/201610:50:00Timken Declares Quarterly Dividend of 26 Cents Per Share
11/01/201616:37:00Timken Acquires EDT Corp., Further Expanding Its Portfolio Of...
11/01/201607:54:39Initial Statement of Beneficial Ownership (3)
10/27/201615:12:32Quarterly Report (10-q)
10/27/201606:57:39Current Report Filing (8-k)
10/27/201606:51:00Timken Reports Third-Quarter 2016 Results
10/25/201613:00:00Timken to Participate in Goldman Sachs Industrials Investor Conference
10/05/201611:30:00Timken to Announce Third-Quarter 2016 Financial Results on October...
09/13/201616:32:46Current Report Filing (8-k)
09/13/201611:00:00Shelly M. Chadwick Named Vice President - Finance and Chief Accounting...
08/29/201616:40:35Statement of Changes in Beneficial Ownership (4)
08/24/201616:48:16Statement of Changes in Beneficial Ownership (4)
08/05/201614:59:52Statement of Changes in Beneficial Ownership (4)
08/02/201611:01:00Timken Declares Quarterly Dividend of 26 Cents Per Share
07/28/201613:55:14Quarterly Report (10-q)
07/28/201607:47:15Current Report Filing (8-k)
07/28/201606:51:00Timken Reports Second-Quarter 2016 Results
07/08/201608:16:00Mathew W. Happach Named President of Lovejoy, Inc.

Timken and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations