secwatch.observer — SEC 8-K summary
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Issuer:     TIMKEN CO (TKR)
CIK:        0000098362
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0000098362-22-000108
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Timken Q3 adj EPS $1.52 beats; raises FY22 outlook; announces GGB Bearings acquisition
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- Q3 sales $1.14B (+9.6% total, +13.6% organic); GAAP EPS $1.18, adj EPS $1.52 (record Q3).
- Raises FY2022 adjusted EPS outlook to $5.80-$5.95 (midpoint ~25% growth vs 2021) and revenue growth ~9%.
- Process Industries EBITDA margin 27.1% (adj 27.4%); Mobile Industries EBITDA margin 3.8% (adj 10.5%) with ADS impairment.
- Free cash flow $97.9M; returned $71.8M to shareholders; net debt/EBITDA 1.8x.
- Agreed to acquire GGB Bearings (~$200M revenue) and divest Aerospace Drive Systems (~$50M); both close in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/98362/000009836222000108/0000098362-22-000108-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/98362/000009836222000108/tkr-20221026.htm
  HTML page:      https://secwatch.observer/filing/0000098362-22-000108

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