Welcome to our dedicated page for Timken news (Ticker: TKR), a resource for investors and traders seeking the latest updates and insights on Timken stock.
Timken (NYSE: TKR) is a global leader in engineered bearings and industrial motion technologies, serving critical sectors from aerospace to renewable energy. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and technological advancements.
Access authoritative coverage of Timken's earnings reports, product innovations, and strategic initiatives. Our curated collection includes press releases on new bearing technologies, acquisitions in the power transmission sector, and operational updates—all essential for understanding the company's market position.
Key updates focus on Engineered Bearings innovations, Industrial Motion solutions, and global manufacturing expansions. Stay informed about developments in metallurgy research, sustainability initiatives, and partnerships driving industrial efficiency across Timken's worldwide operations.
Bookmark this page for direct access to primary source materials and analysis-free reporting. Check regularly for updates impacting Timken's role in advancing mechanical power transmission and industrial reliability solutions.
The Timken Company (NYSE: TKR) hosted an Investor Day on September 28, 2022, in New York City, where CEO Richard G. Kyle outlined the company's strategic objectives and financial performance. The focus was on profitable growth within engineered bearings and industrial motion portfolios, alongside new long-term financial targets aimed at enhancing shareholder value. Timken reported sales of $4.1 billion in 2021 and operates globally with over 18,000 employees. The company emphasizes its commitment to optimizing reliability and performance in response to emerging market trends.
The Timken Company (NYSE: TKR) released its annual corporate social responsibility (CSR) report on September 27, 2022, announcing a goal to cut Scope 1 and Scope 2 greenhouse gas emissions intensity by 50% by 2030, using 2018 as a baseline. The company emphasizes energy-saving solutions and sustainable practices in its operations. Timken also focuses on workforce development and community resilience, aiming to provide career advancement opportunities and support for STEM education. Timken's commitment to ethics has earned recognition from Newsweek as one of "America's Most Responsible Companies."
The Timken Company (NYSE: TKR) will host an Investor Day on September 28, 2022, in New York City, from 9:30 a.m. to 12:00 p.m. ET. The event will feature presentations by key executives, including CEO Richard G. Kyle, and CFO Philip D. Fracassa. Participants can attend in-person or virtually, with registration available here. Presentation materials will be accessible on the company's investor relations website on the event day and will be available for replay for two weeks following the event.
The Timken Company (NYSE: TKR) has announced its agreement to acquire GGB Bearing Technology, a division of Enpro Industries, to enhance its engineered bearing solutions portfolio. GGB, with an estimated revenue of $200 million for fiscal year 2022, specializes in metal-polymer bearings used across diverse industrial applications. Timken plans to finance the acquisition using cash and a revolving credit facility, expecting it to be accretive to earnings within the first full quarter post-closing. The deal is anticipated to close in the fourth quarter of this year.
The Timken Company (NYSE: TKR) announced key executive appointments on August 10, 2022, to enhance its leadership strategy. Christopher Coughlin is appointed executive vice president and president of Industrial Motion, focusing on diversifying industrial motion offerings. Andreas Roellgen becomes executive vice president and president of Engineered Bearings, overseeing global business growth. Natasha Pollock, previously vice president of human resources, is now an executive officer, aiming to strengthen Timken's talent development. These changes align with Timken's growth strategy to increase market share and operational scale.
The Timken Company (NYSE: TKR) has declared a quarterly cash dividend of 31 cents per share, payable on September 2, 2022, to shareholders of record as of August 15, 2022. Timken has a remarkable history of paying dividends, marking 401 consecutive quarters since its NYSE listing in 1922. The company generated $4.1 billion in sales in 2021, employing over 18,000 people globally. Timken has received accolades including being listed among America's Most Responsible Companies by Newsweek.
The Timken Company (NYSE: TKR), a leader in engineered bearings and power transmission products, will attend the Jefferies Industrials Conference on Aug. 10, 2022, in New York City. Philip D. Fracassa, executive vice president and CFO, will represent the company during a fireside chat. Relevant materials from the conference will be accessible online at www.timken.com/investors. In 2021, Timken reported $4.1 billion in sales and is recognized for its contributions in responsible business practices.
The Timken Company (NYSE: TKR) reported record second-quarter 2022 sales of $1.15 billion, an 11% organic increase year-over-year. The company achieved a GAAP earnings per diluted share of $1.42 and an adjusted EPS of $1.67, marking the highest quarterly results to date. Timken raised its full-year earnings outlook to $5.15 to $5.45 for GAAP and $5.50 to $5.80 for adjusted EPS. Operating cash flow was $78.3 million, and free cash flow was $37.4 million. Timken also repurchased 750,000 shares and increased its quarterly dividend by 3%.
The Timken Company (NYSE: TKR) will release its second-quarter 2022 financial results on July 28, before the New York Stock Exchange opens. A conference call is scheduled for 11:00 a.m. Eastern Time to discuss these results with investors and analysts. Financial details and conference call materials will be accessible online.
In 2021, Timken generated $4.1 billion in sales and employs over 18,000 people across 43 countries.
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