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 2Q Net Up 42% On Stronger Demand; Raises Year Forecast

DOW JONES NEWSWIRES Timken Co.'s (TKR) second-quarter earnings rose 42% as stronger demand and surcharges helped drive sales growth, though margins fell slightly. The company raised its full-year earnings estimate to $4.30 to $4.50 a share on revenue growth of 25% to 30%. Its April forecast was $3.80 to $4.10 on revenue growth of 20% to 25%. "We're benefitting from an enhanced portfolio, executing well and have positioned the company to capitalize on attractive global markets," said President and Chief Executive James W. Griffith. The maker of bearings and specialty steel products has seen demand rebound sharply as key buyers in automotive, construction and industrial-equipment increase orders. Timken also has benefited from the Chinese government's stimulus spending and its heavy investments in infrastructure. Earlier this month, the company acquired parts-maker Philadelphia Gear Corp. for $200 million, a move that expands its business in the growing energy and infrastructure sectors. Timken reported a profit of $121.5 million, or $1.22 a share, up from $85.6 million, or 88 cents a share, a year earlier. Last year's earnings from continuing operations were 84 cents. Sales jumped 31% to $1.33 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of $1.14 on revenue of $1.26 billion. Gross margin edged down to 26.4% from 26.5%. Sales in the steel group, which makes steel bars and tubes, soared 49%, aided by surcharges and strong demand, particularly in the oil and gas and industrial market sectors. Mobile industries sales rose 16%, while the aerospace and defense segment reported a 1% increase. Shares closed at $45.35 and were inactive premarket. The stock has risen 48% over the past year. -By Melodie Warner, Dow Jones Newswires; 212-416-2283;

Stock News for Timken (TKR)
05/25/201617:20:06Statement of Changes in Beneficial Ownership (4)
05/12/201613:15:32Initial Statement of Beneficial Ownership (3)
05/11/201616:23:36Statement of Changes in Beneficial Ownership (4)
05/11/201616:18:46Statement of Changes in Beneficial Ownership (4)
05/10/201617:11:53Current Report Filing (8-k)
05/10/201617:11:00Statement of Changes in Beneficial Ownership (4)
05/10/201617:11:00Statement of Changes in Beneficial Ownership (4)
05/10/201617:10:33Statement of Changes in Beneficial Ownership (4)
05/10/201617:10:33Statement of Changes in Beneficial Ownership (4)
05/10/201617:10:06Statement of Changes in Beneficial Ownership (4)
05/10/201617:09:42Statement of Changes in Beneficial Ownership (4)
05/10/201617:09:14Statement of Changes in Beneficial Ownership (4)
05/10/201617:08:48Statement of Changes in Beneficial Ownership (4)
05/10/201610:16:00Timken Declares Quarterly Dividend of 26 Cents Per Share
04/27/201608:00:56Current Report Filing (8-k)
04/27/201606:41:00Timken Reports First-Quarter 2016 Results
04/06/201608:00:00Timken to Announce First-Quarter 2016 Financial Results on April...
04/04/201616:34:13Current Report Filing (8-k)
03/22/201616:30:00The Timken Company's Annual Meeting of Shareholders to be Held...
03/08/201608:12:00Timken to Present at the Bank of America Merrill Lynch Global...

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 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations