Timken Stock Price, News & Analysis

Timken Company (NYSE: TKR) announced that Christopher A. Coughlin, Executive Vice President and President of Industrial Motion, will retire at the end of 2025 after 41 years with the company. During his tenure, Coughlin played a important role in the company's growth through organic initiatives, product innovation, and strategic M&A. He previously led the engineered bearings business and was instrumental in developing Timken's global manufacturing footprint and distribution network.

The company, which posted $4.6 billion in sales in 2024 and employs approximately 19,000 people across 45 countries, has initiated a search process to identify Coughlin's successor and ensure a smooth transition. Under his leadership, Timken expanded its industrial motion offerings and improved operational efficiency while maintaining high quality and customer service levels.

Timken (NYSE: TKR) reported Q4 2024 sales of $1.07 billion, down 1.6% year-over-year, with full-year 2024 sales declining 4.1% to $4.6 billion. The decrease was primarily driven by lower end-market demand in Europe and unfavorable foreign currency translation, partially offset by acquisitions.

Q4 diluted EPS was $1.01 (adjusted $1.16), while full-year 2024 diluted EPS reached $4.99 (adjusted $5.79). The company generated strong cash flow with $476 million from operations and $306 million in free cash flow for 2024.

For 2025, Timken expects revenue to decline between 1% to 4% compared to 2024, with adjusted EPS guidance of $5.30-$5.80. The company is implementing cost reduction actions targeting approximately $75 million in gross savings for 2025.

The Timken Company (NYSE: TKR), a global technology leader in engineered bearings and industrial motion, has appointed Kimberly K. (Kim) Ryan to its Board of Directors, expanding the board to 13 members. Ryan currently serves as director, president and CEO of Hillenbrand (NYSE: HI) since 2021.

Ryan brings extensive experience from her role at Hillenbrand and previous positions, including her tenure as president of Coperion from 2015 to 2021. She will serve on Timken's Compensation and Audit committees. The company, which reported $4.8 billion in sales in 2023 and employs 19,000 people across 45 countries, expects to benefit from Ryan's deep expertise in global manufacturing and business operations.

The Timken Company (NYSE: TKR), a global technology leader in engineered bearings and industrial motion, has scheduled its 2024 fourth-quarter and full-year financial results announcement for Wednesday, February 5, before the NYSE opening. The company will host a conference call with investors and analysts on the same day at 11:00 a.m. Eastern Time.

A replay of the conference call will be available through February 19, 2025. The company, which operates in 45 countries with 19,000 employees globally, reported $4.8 billion in sales for 2023. Timken's expertise spans over 125 years in creating customer-centric solutions for various industries, focusing on reliability and efficiency in engineered bearings and industrial motion.

The Timken Company (NYSE: TKR) celebrated its 125th anniversary by ringing the NYSE opening bell. President and CEO Tarak Mehta, along with board members and company leaders, participated in the ceremony at the NYSE, where Timken has been listed since 1922. The company, a global technology leader in engineered bearings and industrial motion, reported $4.8 billion in sales in 2023 and employs over 19,000 people across 45 countries.

The celebration included worldwide commemorative events and increased commitment to STEM education. Timken, founded in 1899, has contributed to various innovations, from the Wright Brothers' first flight to space exploration. The company was recently recognized as one of the World's Most Innovative Companies by Fast Company.

Timken (NYSE: TKR) has been named one of America's Most Responsible Companies by Newsweek and Statista for the fifth consecutive year. The recognition highlights Timken's dedication to corporate social responsibility, including community support, environmental initiatives, and business sustainability.

The selection process involved analyzing key performance indicators of the top 2,000 U.S. public companies and surveying 26,000 U.S. residents. Companies were evaluated on their CSR performance across social, environmental, and governance areas. Timken was among 600 honorees selected across 14 industries, appearing in the capital goods subcategory.

The company, which posted $4.8 billion in sales in 2023 and employs over 19,000 people globally, was also recognized as one of the World's Most Ethical Companies® by Ethisphere for the 13th time earlier this year.

Timken (NYSE: TKR), a global leader in engineered bearings and industrial motion, announces participation in two upcoming investor conferences in New York City. Neil Frohnapple, VP of investor relations, will attend the Goldman Sachs Industrials Conference on December 4, 2024. Both Frohnapple and Philip D. Fracassa, EVP and CFO, will participate in the Melius Investor Conference on December 12. Conference materials will be available at investors.timken.com.

The company, with a 125-year history in specialized expertise and innovation, reported $4.8 billion in sales in 2023. Timken employs over 19,000 people across 45 countries, focusing on next-generation products for various industries.

Timken (NYSE: TKR) has declared a quarterly cash dividend of 34 cents per share, payable on Nov. 29, 2024, to shareholders of record as of Nov. 19, 2024. This marks the company's 410th consecutive quarterly dividend since its NYSE listing in 1922, representing one of the longest dividend streaks among NYSE-listed companies. 2024 will be Timken's eleventh consecutive year of annual dividend growth. The company, a global leader in engineered bearings and industrial motion, reported $4.8 billion in sales in 2023 and employs over 19,000 people across 45 countries.

Timken reported Q3 2024 sales of $1.13 billion, down 1.4% year-over-year, with organic sales declining 2.9%. Net income was $81.8 million ($1.16 per share), compared to $87.9 million ($1.23 per share) in Q3 2023. Adjusted EPS was $1.23, down from $1.55 last year. The company generated $123.2 million in operating cash flow and $88.2 million in free cash flow.

Due to challenging market conditions, particularly in Europe and China, Timken reduced its full-year 2024 outlook, now expecting revenue to decline approximately 4% from 2023, with adjusted EPS between $5.55-$5.65.