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) announced its participation in the Evercore ISI Industrial Virtual Conference on March 2, 2021. Philip D. Fracassa, executive vice president and chief financial officer, will represent the company. The conference materials will be accessible online at investors.timken.com.
Timken is recognized globally for its engineered bearings and power transmission products, achieving $3.5 billion in sales in 2020 and employing over 17,000 people across 42 countries.
The Timken Company (NYSE: TKR) has been awarded a contract by Huntington Ingalls Industries – Newport News Shipbuilding to supply main reduction gears (MRGs) for the upcoming USS Doris Miller (CVN-81) aircraft carrier. The contract, valued at over $100 million, includes engineering support from Timken's Philadelphia Gear division and is expected to deliver gears between 2025-2026. The Doris Miller, the first aircraft carrier named after an enlisted sailor and an African-American, will serve into the 2080s.
The Timken Company (NYSE: TKR) declared a quarterly cash dividend of 29 cents per share, payable on March 4, 2021, to shareholders of record as of February 22, 2021. This marks the company's 395th consecutive quarter of dividend payments since its NYSE listing in 1922, highlighting its longstanding commitment to returning value to shareholders. In 2020, Timken generated $3.5 billion in sales and employs over 17,000 people globally, operating in 42 countries.
The Timken Company (NYSE: TKR) will participate in the Citi 2021 Global Industrials Virtual Conference on February 18, 2021. Key representatives attending include president and CEO Richard G. Kyle, along with executive vice president and CFO Philip D. Fracassa. This conference presents an opportunity for Timken to showcase its innovations in engineered bearings and power transmission products. For further details, materials will be available online at investors.timken.com.
The Timken Company (NYSE: TKR) reported fourth-quarter 2020 sales of $891.7 million, a 0.5% decline year-over-year, primarily due to lower demand. Net income fell to $53.1 million ($0.69 per diluted share) from $113.5 million ($1.48 per diluted share) in the previous year, impacted by special items. Adjusted net income slightly increased to $65.0 million ($0.84 per diluted share). For 2020, total sales were $3.5 billion, down 7.3%, with net income at $284.5 million. Timken expects 2021 adjusted earnings to rise by nearly 20%, driven by improving industrial markets and growth in renewable energy.
The Timken Company (NYSE: TKR) will announce its fourth-quarter and full-year financial results for 2020 on February 4, 2021. A conference call is scheduled for 11:00 a.m. ET to discuss the financial performance with investors and analysts. Key materials will be available on the company's investor relations website. Timken generated $3.8 billion in sales in 2019 and operates in 42 countries, employing over 17,000 people.
The Timken Company has appointed Sarah Lauber to its Board of Directors, expanding the board to 12 members. Lauber, who is currently the CFO of Douglas Dynamics, brings over 25 years of financial leadership experience. She previously served at Jason Industries and began her career at KPMG. Timken's Chairman, John Timken, highlighted Lauber’s expertise in financial planning and acquisition integration, noting her diverse perspectives will enhance board discussions. Lauber holds degrees from California State University-San Bernardino and Northwestern University.
The Timken Company (NYSE: TKR) has announced the opening of a new manufacturing facility in San Jose Iturbide, Mexico, for tapered roller bearings. This state-of-the-art facility utilizes advanced automation technologies, enhancing its capacity to deliver quality products to customers in the Americas and globally. Timken's investment reflects its commitment to regional manufacturing, with Latin America contributing over 5% to the company's sales. The company aims to leverage this facility to strengthen its global bearing leadership by providing improved service and value.
The Timken Company (NYSE: TKR) announced over $75 million in capital investments to enhance renewable energy capabilities through early 2022. This funding will primarily target expansions in China and Romania, focusing on engineered bearings for wind turbines and solar energy technologies. CEO Richard G. Kyle highlighted a record year in renewable markets, showcasing Timken's position as a leading supplier in wind and solar energy. Investments aim to improve production capacity and efficiency while integrating advanced manufacturing technologies.
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