Timken Stock Price, News & Analysis

The Timken Company (NYSE: TKR) has acquired the assets of Aurora Bearing Company for an undisclosed amount. Aurora, which specializes in manufacturing rod ends and spherical plain bearings, anticipates sales of approximately $30 million for 2020. This acquisition aligns with Timken's strategy to enhance its leadership in engineered bearings and diversify its product offerings. Aurora, founded in 1971 and based in Montgomery, Illinois, employs around 220 people. The acquisition is expected to strengthen Timken's market position and product breadth.

The Timken Company (NYSE: TKR) will participate in the Melius Research Virtual Industrial Tech & Aerospace Forum on December 9, 2020. Philip D. Fracassa, Executive Vice President and Chief Financial Officer, will represent the company. The materials shared during the conference will be accessible online at investors.timken.com. In 2019, Timken reported $3.8 billion in sales and employs over 17,000 people worldwide, operating in 42 countries.

The Timken Company (NYSE: TKR) has announced a 4% increase in its quarterly cash dividend, raising it to 29 cents per share. This dividend will be payable on December 3, 2020, to shareholders of record by November 24, 2020. This marks the company's 394th consecutive quarterly dividend payment since its NYSE listing in 1922, demonstrating a strong track record in shareholder returns. Timken reported $3.8 billion in sales for 2019 and employs over 17,000 people worldwide, indicating robust operational capacity.

The Timken Company (NYSE: TKR) released its 2019 Corporate Social Responsibility (CSR) report, emphasizing its focus on engineering and systems thinking to adapt to a changing world. The report outlines three main areas for advancing CSR: growing knowledge through associate training and diversity, advancing sustainability with energy-efficient products and safety, and promoting leadership through ethical governance and community investment. Timken reported $3.8 billion in sales in 2019, employing over 17,000 people across 42 countries.

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.