Welcome to our dedicated news page for The Timken Company (Ticker: TKR), a resource for investors and traders seeking the latest updates and insights on The Timken Company.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect The Timken Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of The Timken Company's position in the market.
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The Timken Company awards scholarships to 20 students worldwide, totaling over $26 million since 1958. The program supports children of Timken employees pursuing various careers. Notable recipients include Aidan Byers and Haley Steppler, receiving $25,000 and $20,000 annually, respectively. The company aims to invest in future leaders across different countries and disciplines.
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The Timken Company (TKR) has declared a quarterly cash dividend of 33 cents per share, payable on March 6, 2024, to shareholders of record as of Feb. 20, 2024. This marks the 407th consecutive quarter of dividend payments, showcasing Timken's strong commitment to rewarding its shareholders. Timken is a global leader in engineered bearings and industrial motion products, with a long-standing presence in the market since its original listing on the NYSE in 1922.
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The Timken Company reported fourth-quarter 2023 sales of $1.09 billion, up 1 percent from the same period a year ago. The full-year 2023 EPS was $5.47, with an adjusted EPS of $7.05. However, the company provided an initial estimate for 2024 EPS of $4.90-$5.30, with adjusted EPS of $5.80-$6.20 on lower anticipated demand. The company also completed two significant acquisitions in 2023, added $70 million of pro forma annual revenue, and was named one of America's Most Responsible Companies for the fourth straight year.
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American Woodmark Corporation (AMWD) announced the addition of Philip Fracassa to its board of directors. Fracassa brings extensive financial management expertise and global manufacturing experience, having served as executive vice president and CFO of The Timken Company. He holds a CPA and a law degree, and has a background in accounting and tax law. Fracassa's addition aims to strengthen the company's board and ensure effective strategy execution.
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The Timken Company (TKR) will release its 2023 fourth-quarter and full-year financial results on February 5, 2024, and host a conference call to discuss its financial performance with investors and securities analysts. The company is a global leader in engineered bearings and industrial motion products. The financial results and conference call materials will be available online at http://investors.timken.com.
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The Timken Company (NYSE: TKR) has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for marine, dredging, and industrial applications. Lagersmit is expected to generate around $40 million in revenue in 2023, adding engineered sealing products to Timken's portfolio and strengthening its presence in the marine market.
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The Timken Company (TKR) has been recognized by Newsweek and Statista Inc. as one of America's Most Responsible Companies 2024 for the fourth consecutive year. Timken's commitment to corporate social responsibility (CSR) is reflected in its global initiatives and engineering expertise, aligning with its business strategy. The company's sustainable and responsible practices extend to its operations and solutions for customers' challenges. Timken is listed in the capital goods subcategory among the top 600 most responsible companies in the United States, selected based on key performance indicators (KPIs) and a survey of 17,000 U.S. residents.
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The Timken Company (TKR) will attend the Melius Research Conference on Dec. 7, 2023 in New York City. Philip D. Fracassa, EVP and CFO, and Neil Frohnapple, IR director, will represent Timken. Materials shared during the conference will be available online at www.timken.com/investors.
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The Timken Company has declared a quarterly cash dividend of 33 cents per share. The dividend is payable on Nov. 29, 2023, to shareholders of record as of Nov. 14, 2023. This marks the company's 406th consecutive quarter of paying dividends and its tenth consecutive year of annual dividend growth.
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The Timken Company has completed its acquisition of Engineered Solutions Group (iMECH), a manufacturer of bearings and components for the energy industry. iMECH employs around 70 people and projects revenue of $30 million for 2023.
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The Timken Company
NYSE:TKR
TKR Rankings
TKR Stock Data
6.16B
66.34M
10.84%
86.1%
1.99%
Ball and Roller Bearing Manufacturing
Manufacturing
United States of America
NORTH CANTON
About TKR
the timken company (nyse: tkr; www.timken.com) engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. the leading authority on tapered roller bearings, timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. the company’s growing product and services portfolio features many strong industrial brands including timken®, fafnir®, philadelphia gear®, carlisle®, drives® and interlube™. known for its quality products and collaborative technical sales model, timken posted $3.1 billion in sales in 2014. with 14,000 employees operating from 28 countries, timken makes the world more productive and keeps industry in motion.