Timken Co reports results for the quarter ended in March - Earnings Summary

Timken

30/04/2024 15:42

* Timken Co  TKR.N  reported quarterly adjusted earnings of
$1.77​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of $2.09. 
The mean expectation of eleven analysts for the quarter was
for earnings of $1.51 per share. Wall Street expected results to
range from $1.42  to $1.60 per share.
    * Revenue fell 5.7% to $1.19 billion from a year ago;
analysts
expected $1.15 billion. 
    * Timken Co's reported EPS for the quarter was $1.46​.
    * The company reported quarterly net income of $103.5
million.
    * Timken Co shares had fallen by 0.8% this quarter and
gained 8.2%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 6
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "hold"

Wall Street's median 12-month price target for Timken Co is
$86.00 
This summary was machine generated from LSEG data April 30 at
02:42 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.51           1.77           Beat
 Dec. 31 2023      1.22           1.37           Beat
 Sep. 30 2023      1.59           1.55           Missed
 Jun. 30 2023      2.08           2.01           Missed