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.
Timken (NYSE: TKR) is a global leader in engineered bearings and industrial motion technologies, serving critical sectors from aerospace to renewable energy. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and technological advancements.
Access authoritative coverage of Timken's earnings reports, product innovations, and strategic initiatives. Our curated collection includes press releases on new bearing technologies, acquisitions in the power transmission sector, and operational updates—all essential for understanding the company's market position.
Key updates focus on Engineered Bearings innovations, Industrial Motion solutions, and global manufacturing expansions. Stay informed about developments in metallurgy research, sustainability initiatives, and partnerships driving industrial efficiency across Timken's worldwide operations.
Bookmark this page for direct access to primary source materials and analysis-free reporting. Check regularly for updates impacting Timken's role in advancing mechanical power transmission and industrial reliability solutions.
The Timken Company (NYSE: TKR) will participate in the Citi 2023 Global Industrial Tech and Mobility Conference on February 22, 2023. Richard G. Kyle, president and CEO, and Neil Frohnapple, director of investor relations, will represent the company. Attendees can access materials shared during the conference online. Timken, a leader in engineered bearings and industrial motion products, reported $4.5 billion in sales for 2022, employing over 19,000 people across 46 countries.
Recognized for its ethical practices, Timken has received accolades such as being named among America’s Most Responsible Companies by Newsweek.
The Timken Company (NYSE: TKR) reported fourth-quarter 2022 sales of $1.08 billion, a 7.4% increase year-over-year, driven by strong organic growth and acquisitions. Net income rose to $97.2 million, or $1.32 per diluted share, compared to $62.9 million, or $0.82 per share in Q4 2021. The company projects 2023 EPS between $5.80 and $6.40, with adjusted EPS of $6.50 to $7.10. Timken’s full-year 2022 sales reached $4.5 billion, marking an 8.8% increase, with record EPS of $5.48. The company also returned $303 million to shareholders through dividends and share repurchases in 2022.
The Timken Company (NYSE: TKR) has acquired the assets of American Roller Bearing Company (ARB), a manufacturer based in North Carolina, for an undisclosed amount. This strategic acquisition aims to enhance Timken's portfolio, adding ARB's offerings to its engineered bearing solutions. ARB generated over $30 million in sales in 2022, reflecting a strong U.S. market presence and a robust aftermarket business. The transaction was funded through Timken's cash reserves. According to Timken's CEO, Richard G. Kyle, the integration of ARB aligns well with their business model and customer base, potentially increasing market share.
The Timken Company (NYSE: TKR) has announced its agreement to acquire Nadella Group, a European manufacturer of linear guides, for approximately €100 million. Nadella reported revenues of about €100 million in 2022 and employs 450 people across Europe and China. This strategic acquisition aims to enhance Timken's linear motion product portfolio, generating synergies with its existing Rollon business. Timken expects the transaction, pending regulatory approvals, to close in Q1 2023, funded by cash and credit facilities, and to be accretive to adjusted earnings in 2023.
The Timken Company (NYSE: TKR) announced it will release its 2022 fourth-quarter and full-year financial results on
The Timken Company (NYSE: TKR) announced that its engineered packaged wheel bearings are now utilized in Ford Motor Company's F-150 Lightning, the first mainstream electric pickup. This partnership reflects Timken's role in advancing EV technology, providing solutions that enhance vehicle performance while addressing design challenges. Timken's longstanding relationship with Ford dates back to 1908 and includes various models. As of 2021, Timken reported $4.1 billion in sales, showcasing its expertise in bearing technologies essential for modern vehicle demands.
The Timken Company (NYSE: TKR) will participate in the Melius Research Industrials Conference on December 8, 2022, in New York City. Philip D. Fracassa, executive vice president and CFO, will represent the company. Interested parties can access materials shared during the event on Timken's investor website. Timken specializes in engineered bearings and industrial motion products, boasting over 18,000 employees and $4.1 billion in sales in 2021. The company is recognized for its commitment to responsibility and ethics in business.
The Timken Company (NYSE: TKR) declared a quarterly cash dividend of 31 cents per share, payable on Dec. 2, 2022, to shareholders of record as of Nov. 21, 2022. This dividend marks the company's 402nd consecutive quarter of dividend payments since its NYSE listing in 1922, highlighting its long-term commitment to returning value to shareholders. Additionally, 2022 is the ninth consecutive year of annual dividend growth, reflecting Timken’s strong financial performance with $4.1 billion in sales in 2021.
The Timken Company (NYSE: TKR) has announced the completion of its acquisition of GGB Bearings, a leader in engineered metal-polymer plain bearings. GGB, which is expected to generate approximately $200 million in revenue for the fiscal year 2022, enhances Timken's product line, particularly in industrial applications. The acquisition is anticipated to strengthen Timken's market position, leveraging GGB's global presence and technical expertise across various sectors including energy and aerospace.
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