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.
NORTH CANTON, Ohio, Sept. 15, 2021 — The Timken Company (NYSE: TKR) announced it anticipates lower sales and earnings for the second half of 2021 due to ongoing customer and supply chain disruptions, along with inflationary pressures. Despite these challenges, underlying demand remains strong, and the company plans to address supply chain issues through operational efficiencies and price increases. Timken has withdrawn its full-year 2021 financial outlook, with further updates expected during its third-quarter financial report.
The Timken Company (NYSE: TKR) has acquired Intelligent Machine Solutions (iMS), enhancing its Rollon® product line with heavy-duty industrial robotics and automation solutions. iMS, based in Norton Shores, Michigan, has approximately $6 million in annual revenues. This acquisition strengthens Timken's position in the growing $700 million robotic transfer unit industry, expanding their operational footprint in the U.S. and supporting their strategic goals in sectors like aerospace, automotive, and packaging.
The Timken Company (NYSE: TKR) has declared a quarterly cash dividend of 30 cents per share, payable on September 3, 2021, to shareholders on record as of August 20, 2021. This marks the 397th consecutive quarter of dividend payments since the company's listing in 1922, showcasing its commitment to returning value to shareholders. Timken reported $3.5 billion in sales for 2020 and operates globally with over 17,000 employees.
The Timken Company (NYSE: TKR) reported Q2 2021 sales of $1.06 billion, a 32.3% increase year-over-year, supported by strong growth in key markets and the Aurora Bearing acquisition. Net income reached $104.8 million ($1.36 per diluted share), up from $61.9 million a year ago. Adjusted net income was $106.1 million ($1.37 per diluted share). The company raised its quarterly dividend by 3% to $0.30 per share and expects full-year earnings per diluted share between $5.00 and $5.30, with a revenue increase of approximately 19% compared to 2020.
The Timken Company (NYSE: TKR) will announce its second-quarter 2021 financial results on Monday, Aug. 2, 2021, before NYSE opening. A conference call will discuss the financial performance at 11:00 a.m. ET on the same day. Interested parties can access the live call via telephone or webcast. Timken specializes in engineered bearings and power transmission products, generating $3.5 billion in sales in 2020 with over 17,000 employees across 42 countries.
The Timken Company (NYSE: TKR) reported significant growth in its automatic lubrication systems portfolio, now the world's second largest producer in this category. Revenue for these systems has more than doubled over five years due to strategic acquisitions and organic growth. The company anticipates a record year in 2021 and projects a double-digit CAGR through 2025, fueled by global trends toward automation. Timken is also expanding production in North America and China to meet increasing demand, emphasizing the sustainability and safety benefits of its lubrication systems.
The Timken Company (NYSE: TKR) will present at the KeyBanc Industrials & Basic Materials Virtual Conference on June 3, 2021, at 2 p.m. EDT. CEO Richard G. Kyle and CFO Philip D. Fracassa will represent the company. A live webcast can be accessed at www.timken.com/investors with a replay available until June 17, 2021. Timken reported $3.5 billion in sales in 2020 and operates in 42 countries. The company is recognized as one of America's Most Responsible Companies by Newsweek.
The Timken Company (NYSE: TKR) reported significant growth in the wind energy sector, achieving a 17% CAGR over five years compared to the industry average of 7%. With global demand for renewable energy increasing, Timken anticipates record revenue in 2021 from wind-related operations. The company has invested over $75 million to enhance its capabilities in renewable energy and expects continuous demand for maintenance and repair services for aging turbines. Timken's engineering innovations, including advanced bearings, position it favorably in this growing market.
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