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.
The Timken Company (NYSE: TKR) regularly issues news as a global technology leader in engineered bearings and industrial motion. This news page aggregates company press releases and third-party coverage so readers can follow developments that Timken reports to investors, customers and other stakeholders.
Timken’s news flow often includes financial results, such as quarterly earnings releases that discuss net sales, segment performance for Engineered Bearings and Industrial Motion, margins, cash flow and outlook updates. These announcements are typically accompanied by conference call details and presentation materials for investors and securities analysts.
Another recurring theme in Timken news is leadership and governance updates. The company has reported appointments of its president and chief executive officer, vice president and chief financial officer, and other senior leaders, as well as new roles such as chief technology officer and vice president of marketing. These items describe changes in responsibilities, compensation arrangements and the company’s focus on technology strategy, market and channel strategy and regional growth.
Timken also issues releases on capital markets and regulatory matters, including participation in investor conferences and applications related to its reporting status in specific jurisdictions. In addition, the company highlights dividend declarations, noting its long history of paying quarterly dividends since its NYSE listing in 1922.
Readers interested in environmental, social and governance topics can find news about corporate responsibility and ethics recognitions, such as Timken’s inclusion on Newsweek's America's Most Responsible Companies list and its recognition as one of the World's Most Ethical Companies by Ethisphere. For investors, customers and observers of the industrial and capital goods sector, this page offers a centralized view of Timken’s official announcements over time.
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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