earnings
confidence high
sentiment positive
materiality 0.75
Timken posts record Q2 sales of $1.06B (+32%); GAAP EPS $1.36, adjusted $1.37
TIMKEN CO
2021-Q2 EPS reported
$2.82
revenue$2,088,300,000
- Record revenue $1.06B, up 32% YoY; net income $104.8M vs $61.9M last year.
- Process Industries sales $568.7M (+23.4%); Mobile Industries $494.2M (+44.2%).
- Cash from ops $147M, free cash flow $116M; quarterly dividend raised 3% to $0.30/share.
- FY2021 guidance: GAAP EPS $5.00–$5.30, adjusted $5.15–$5.45; revenue expected up ~19%.
- Net debt to adjusted EBITDA 1.7x; backlog increased through quarter.