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) reported third-quarter 2020 sales of $894.6 million, down 2.1% year-over-year, but up 11.3% from the second quarter. Net income rose to $88.8 million or $1.16 per diluted share, compared to $64.2 million or $0.84 in Q3 2019, driven by pension remeasurement income and lower operating expenses. Cash flow from operations amounted to $153.6 million, up from $144.9 million a year ago. Timken anticipates strong cash flow and is focused on reducing net debt, which was 2.0 times EBITDA. The company continues to demonstrate resilience amid market challenges.
The Timken Company (NYSE: TKR) announced its participation in the Baird Global Industrial Virtual Conference on November 10, 2020. Company representatives include Richard G. Kyle, president and CEO, and Philip D. Fracassa, executive VP and CFO. Attendees can access shared materials online at investors.timken.com. Timken is a leader in engineered bearings and power transmission products, posting $3.8 billion in sales in 2019 and operating in 42 countries.
The Timken Company (NYSE: TKR) has strengthened its collaboration with the U.S. Navy as Fincantieri Marinette Marine (FMM) selects Timken's Philadelphia Gear to supply main reduction gears for the new Constellation frigates. This contract, which includes options for up to 10 frigates, could escalate Timken's contract value to over $140 million. The Philadelphia Gear will design and manufacture critical propulsion components in Pennsylvania and California. Timken, a leader in power transmission solutions, reported $3.8 billion in sales in 2019.
The Timken Company (NYSE: TKR) will release its third-quarter financial results on October 29, 2020, before the market opens. A conference call is scheduled for 11:00 a.m. ET on the same day, where management will discuss the financial performance. Interested parties can join via a live dial-in or web conference. Replay options will be available until November 12, 2020. Timken, a leader in engineered bearings and power transmission products, reported $3.8 billion in sales for 2019 and operates in 42 countries.
The Timken Company (NYSE: TKR) will present at the Morgan Stanley Virtual Laguna Conference on Sept. 17, 2020. CEO Richard G. Kyle will represent the company, showcasing its engineered bearings and power transmission products. Timken reported $3.8 billion in sales for 2019 and operates in 42 countries with over 17,000 employees. Conference materials will be accessible online via their investor relations site.
The Timken Company (NYSE: TKR) will participate in the Vertical Research Partners' Global Industrials Virtual Conference on Sept. 9, 2020. Philip D. Fracassa, EVP and CFO, will represent the company. Conference materials will be made available online.
Timken specializes in engineered bearings and power transmission products, boasting $3.8 billion in sales for 2019 and employing over 17,000 worldwide across 42 countries.
The Timken Company (NYSE: TKR) announced a quarterly cash dividend of 28 cents per share, payable on Sept. 3, 2020, to shareholders of record as of Aug. 21, 2020. This dividend marks the 393rd consecutive quarterly payout since Timken's NYSE listing in 1922, showcasing one of the longest dividend records among NYSE companies. In 2019, Timken reported $3.8 billion in sales and operates globally with more than 17,000 employees.
The Timken Company (NYSE: TKR) reported second-quarter 2020 sales of $803.5 million, a decrease of 19.7% year-over-year, mainly due to COVID-19's economic impact and adverse currency effects. Net income fell to $61.9 million or $0.82 per diluted share, down from $92.5 million or $1.20 per diluted share in 2019. Notably, net cash from operations improved to $247.4 million. Despite challenges, Timken implemented cost reduction strategies expected to save $50 to $60 million in the second half of 2020. The company has strong liquidity with $416 million in cash, but full-year guidance remains unavailable due to ongoing uncertainties.
The Timken Company (NYSE: TKR), a leading manufacturer of engineered bearings and power transmission products, will participate in the Jefferies Virtual Industrials Conference on August 5, 2020. Philip D. Fracassa, executive vice president and CFO, will represent the company. The presentation materials will be accessible online for investors at investors.timken.com. In 2019, Timken recorded $3.8 billion in sales and operates in 42 countries with over 18,000 employees.
The Timken Company (NYSE: TKR) will announce its second-quarter 2020 financial results on August 3, 2020, before the NYSE opens. The company will host a conference call that day at 10:00 a.m. Eastern Time to discuss its performance with investors. The call will be accessible via a live webcast and a replay will be available until August 17, 2020. Timken generated $3.8 billion in sales in 2019 and has over 18,000 employees worldwide, operating in 42 countries.
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