Timken Q3 adjusted EPS $1.55 on sales $1.14B; updates 2023 outlook

TIMKEN CO

2023-Q3 EPS reported $4.63 revenue$3,677,800,000

Sales $1.14B, up 0.6% YoY; EPS $1.23, adjusted EPS $1.55.
Cash from ops $194M; free cash flow $151M; repurchased 775K shares.
Engineered Bearings adj. EBITDA margin 20.2%; Industrial Motion adj. EBITDA margin 20.5%.
Updated FY2023 outlook: EPS $5.60-$5.70, adjusted EPS $6.85-$6.95, revenue +5.0%-5.5%.
Completed acquisitions of Des-Case and Rosa Sistemi; net of iMECH and TWB adds ~$50M revenue.

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 0.4

TIMKEN CO reported third quarter of 2023 results: revenue $1.14 billion, net income $87.9 million or $1.23 per diluted share, EPS $1.23 per diluted share.

Period: third quarter of 2023
Revenue: $1.14 billion
Net income: $87.9 million or $1.23 per diluted share
EPS: $1.23 per diluted share
Result: reported results

Exact text from the filing

Exchange Act, except as shall be expressly set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- Timken Reports Third-Quarter 2023 Results • Sales of $1.14 billion, up approximately 1 percent from last year • Third-quarter earnings per share of $1.23; adjusted EPS of $1.55 • Strong cash from operations of $194 million; free cash flow of

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TIMKEN CO reported full year 2023 results: EPS $5.60 to $5.70.

Period: full year 2023
EPS: $5.60 to $5.70
Result: guidance update

Exact text from the filing

Timken is updating its 2023 outlook, with full-year earnings per diluted share now forecasted to be in the range of $5.60 to $5.70 and adjusted earnings per diluted share in the range of $6.85 to $6.95.

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Source: SEC EDGAR

accession 0000098362-23-000132

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