Timken Stock Price, News & Analysis

The Timken Company (NYSE: TKR) reported first-quarter 2021 sales of $1.03 billion, an 11% increase year-over-year. This growth was fueled by organic expansion, particularly in renewable energy and off-highway sectors, alongside the Aurora Bearing acquisition. Net income rose to $113.3 million or $1.47 per diluted share, compared to $80.7 million or $1.06 for the same quarter last year. The positive performance, driven by higher volumes and lower SG&A expenses, led to an increased full-year revenue outlook of approximately 18%.

The Timken Company (NYSE: TKR) announced its advanced drivetrain repair services in the U.S., promoting sustainability by extending equipment life and reducing waste. Timken's expert solutions can save customers up to 60% compared to new products. With over a century of experience, Timken recycles more than 1,000 tons of steel and 75 tons of copper annually. Their services include inspection and repair of bearings, motors, and gear drives, highlighting their commitment to the circular economy while ensuring minimal downtime for clients.

The Timken Company (NYSE: TKR) announced its participation in the Oppenheimer Industrial Growth Conference scheduled for May 4, 2021. Philip D. Fracassa, the executive vice president and chief financial officer, will represent the company. Attendees can access materials shared during the conference at the investors' portal. Timken is recognized for its engineered bearings and power transmission products, reporting $3.5 billion in sales in 2020 and operating in 42 countries.

The Timken Company (NYSE: TKR) is set to release its Q1 2021 financial results on April 28, 2021, before the NYSE opens. A conference call will follow to discuss the results with investors and analysts. These details will also be accessible via their investor relations website. In 2020, Timken achieved $3.5 billion in sales and operates in 42 countries with over 17,000 employees. The company has received recognition for being among America's Most Responsible Companies and World's Most Ethical Companies.

The Timken Company (NYSE: TKR) has partnered with the LeBron James Family Foundation to support STEM education by sponsoring the Makerspace learning lab at the I PROMISE School in Akron, Ohio. This collaboration involves Timken associates sharing engineering expertise to foster creativity and scientific thinking among students. Timken aims to create a positive community impact through such initiatives, emphasizing its commitment to developing future leaders. In 2020, Timken reported sales of $3.5 billion and operates globally with over 17,000 employees.

The Timken Company (NYSE: TKR) released its 2020 Annual Report, showcasing resilience amid the COVID-19 pandemic. Key highlights include a 12% contribution from renewable energy, over 50% revenue growth in this sector, and $136 million returned to shareholders through dividends and share repurchases. Timken allocated $122 million for capital expenditures and continued its strategy of expanding its engineered bearings and power transmission portfolio. Despite uncertainties, the company aims for record revenue and earnings in 2021.

The Timken Company (NYSE: TKR) will present at the BofA Global Research Global Industrials Conference on March 16, 2021, at 2 p.m. GMT (10 a.m. EDT). Executives Richard G. Kyle and Philip D. Fracassa will represent the company. A live webcast will be accessible for download at www.timken.com/investors, with a replay available until March 30, 2021. In 2020, Timken achieved $3.5 billion in sales and operates in 42 countries, employing over 17,000 people.

The Timken Company (NYSE: TKR) awarded college scholarships to 20 students globally in a recent virtual ceremony. This initiative, part of the Timken Global Scholars Program, underscores the company's commitment to education and innovation. Since 1958, over $25 million has been given through this scholarship fund. Notable recipients include Mariah Cotsamire, a nursing major, and Jonas Muhlenkamp, who aspires to study applied mathematics and computer science. The program aims to foster the next generation of leaders across diverse fields.

The Timken Company (NYSE: TKR) has been recognized among the World's Most Ethical Companies for the 11th time, as announced by the Ethisphere Institute. This honor reflects Timken's ethical culture and commitment to sustainability, diversity, and strong governance. The company was selected from 135 honorees across 22 countries and 47 industries. Timken reported $3.5 billion in sales for 2020 and operates in 42 countries, employing over 17,000 people. This recognition underscores Timken's focus on ethics and integrity in its operations and community support.