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 supplies engineered bearings and industrial motion products through its Engineered Bearings and Industrial Motion segments. News about TKR commonly covers operating results, demand trends, margins, and portfolio actions across products such as tapered roller bearings, housed bearings, linear guides, lubrication systems, chains, couplings, brakes and seals.
Company updates also include dividend and shareholder-return actions, investor presentations, and acquisitions that expand Timken's industrial motion capabilities, including automated lubrication systems. The company's reporting often connects segment performance with regional exposure in the United States, EMEA, Asia-Pacific and the rest of the Americas.
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.