Timken Q1 record sales $1.26B, adj EPS $2.09; raises FY23 outlook

TIMKEN CO

2023-Q1 EPS reported $1.67 revenue$1,262,800,000

Record Q1 sales of $1.26B, up 12% total and 11% organically YoY.
GAAP diluted EPS of $1.67; adjusted EPS of $2.09, an all-time quarterly record.
Engineered Bearings sales $900.7M (+16.6%); Industrial Motion $362.1M (+2.8%).
FY2023 EPS guidance raised to $5.90-$6.40; adjusted EPS $7.00-$7.50, revenue growth ~9.5%.
Completed Nadella Group acquisition; returned $77.6M to shareholders via dividends and buybacks.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TIMKEN CO reported first quarter of 2023 results: revenue $1.26 billion, net income $122.3 million, EPS $1.67 per diluted share. Guidance raised.

Period: first quarter of 2023
Revenue: $1.26 billion
Net income: $122.3 million
EPS: $1.67 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- Timken Reports Record First-Quarter 2023 Results; Raises Full-Year Outlook • Record sales of $1.26 billion, up 12 percent in total and 11 percent organically from last year • Record first-quarter EPS of $1.67; with all-time record quarterly adjusted EPS of $2.09 • Net income margin of

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Source: SEC EDGAR

accession 0000098362-23-000053

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