TKR 8-K: Timken Q4 sales $1.08B, EPS $1.32; record FY22 adj. EPS $6.02; FY23 guidance $6.50-$7.10

Timken Q4 sales $1.08B, EPS $1.32; record FY22 adj. EPS $6.02; FY23 guidance $6.50-$7.10

TIMKEN CO

2022-FY EPS reported $5.48 revenue$4,496,700,000

Q4 sales $1.08B (+7.4% total, +10.2% organic); EPS $1.32; adjusted EPS $1.22 (Q4 record).

Full-year 2022 record adjusted EPS $6.02 (+28% vs 2021); net sales $4.5B (+8.8%).

2023 initial guidance: EPS $5.80-$6.40; adjusted EPS $6.50-$7.10 (excluding acquisition intangible amortization).

Acquired assets of American Roller Bearing Co. and agreed to acquire Nadella Group (combined ~$140M 2022 revenue).

Process Industries EBITDA margin 23.4% (adj. 24.4%); Mobile Industries EBITDA margin 10.7% (adj. 11.3%).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TIMKEN CO reported the fourth quarter and full year of 2022 results: revenue $1.08 billion, net income $97.2 million or $1.32 per diluted share, EPS $1.32 per diluted share. Guidance initiated.

Period: the fourth quarter and full year of 2022
Revenue: $1.08 billion
Net income: $97.2 million or $1.32 per diluted share
EPS: $1.32 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Timken Reports Strong Fourth-Quarter and Full-Year 2022 Results • Sales of $1.08 billion in the fourth quarter, up 7 percent in total and 10 percent organically from last year • Fourth-quarter EPS of $1.32; adjusted EPS of $1.22 • Record full-year 2022 EPS of $5.48; record adjusted EPS of $6.02 • Starting in 2023, adjusted EPS will be revised to exclude acquisition intangible amortization expense • Company provides initial estimate for 2023 EPS of $5.80-$6.40, with adjusted EPS of $6.50-$7.10 NORTH CANTON, Ohio: February 6, 2023 — The Timken Company (NYSE: TKR; www.timken.com ), a global leader in engineered bearings and industrial motion products, today reported fourth-quarter 2022 sales of $1.08 billion, up 7.4 percent from the same period a year ago. The increase was driven by strong organic growth across most end-market sectors, and the favorable impact of acquisitions (net of divestitures), partially offset by unfavorable foreign currency translation. Organically, fourth-quarter s

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