earnings
confidence high
sentiment negative
materiality 0.85
Timken Q3 adjusted EPS $1.23 vs $1.55 YoY; lowers FY2024 EPS outlook to $5.55-$5.65
TIMKEN CO
2024-Q3 EPS reported
$3.98
revenue$3,499,400,000
- Q3 sales $1.13B, down 1.4% YoY; organic sales down 2.9%.
- GAAP EPS $1.16; adjusted EPS $1.23, down from $1.55 a year ago.
- Adjusted EBITDA margin 16.9% vs 18.9% YoY; free cash flow $88.2M.
- Full-year 2024 adjusted EPS guidance cut to $5.55-$5.65 from prior; revenue seen down ~4%.
- Acquired CGI, Inc., a precision drive systems manufacturer for medical robotics.