secwatch.observer — SEC 8-K summary
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Issuer:     TIMKEN CO (TKR)
CIK:        0000098362
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0000098362-24-000007
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/98362/000009836224000007/0000098362-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/98362/000009836224000007/tkr-20240205.htm
  HTML page:      https://secwatch.observer/filing/0000098362-24-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer