Timken Q4 EPS $0.83 ($1.37 adjusted); record FY 2023 sales $4.8B; 2024 guidance softer

TIMKEN CO

2023-FY EPS reported $5.47 revenue$4,769,000,000

Q4 2023 sales $1.09B (+0.9% YoY); net income $58.7M ($0.83 diluted EPS) vs $97.2M ($1.32) prior year.
Q4 adjusted net income $97.3M ($1.37 adjusted EPS); adjusted EBITDA margin 17.9% vs 17.2% year ago.
FY 2023 record sales $4.8B (+6.1%); record adjusted EPS $7.05; adjusted EBITDA margin 19.7%.
Initial 2024 guidance: EPS $4.90-$5.30, adjusted EPS $5.80-$6.20 on 2.5%-4.5% lower total revenue.
Closed acquisitions of iMECH and Lagersmit in Q4; combined expected to add ~$70M pro forma annual 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 0.95

TIMKEN CO reported full year of 2023 results: revenue $4.8 billion, net income $394.1 million or $5.47 per diluted share, EPS $5.47 per diluted share. Guidance initiated.

Period: full year of 2023
Revenue: $4.8 billion
Net income: $394.1 million or $5.47 per diluted share
EPS: $5.47 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Timken Reports Strong Fourth-Quarter Results to Close Out a Record 2023 • Sales of $1.09 billion in the fourth quarter, up 1 percent from last year • Fourth-quarter earnings per share of $0.83; adjusted EPS of $1.37 • Record full-year sales of $4.8 billion, up 6 percent from last year • Full-year 2023 EPS of $5.47; record adjusted EPS of $7.05 • Full-year net income margin of 8.3 percent; adjusted EBITDA margin of 19.7 percent • Company provides initial estimate for 2024 EPS of $4.90-$5.30, with adjusted EPS of $5.80-$6.20 on lower anticipated demand

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TIMKEN CO reported fourth quarter of 2023 results: revenue $1.09 billion, net income $58.7 million or $0.83 per diluted share, EPS $0.83 per diluted share.

Period: fourth quarter of 2023
Revenue: $1.09 billion
Net income: $58.7 million or $0.83 per diluted share
EPS: $0.83 per diluted share
Result: reported results

Exact text from the filing

be expressly set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- Timken Reports Strong Fourth-Quarter Results to Close Out a Record 2023 • Sales of $1.09 billion in the fourth quarter, up 1 percent from last year • Fourth-quarter earnings per share of $0.83; adjusted EPS of $1.37 • Record full-year sales of $4.8 billion, up 6 percent from

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Source: SEC EDGAR

accession 0000098362-24-000007

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