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

Timken

01/11/2023 13:32

* Timken Co  TKR.N  reported quarterly adjusted earnings of
$1.55​​ per share for the quarter ended in September, higher
than the same quarter last year, when the company reported EPS
of $1.52.  The mean expectation of nine analysts for the quarter
was for earnings of $1.59 per share. Wall Street expected
results to range from $1.56  to $1.65 per share.
    * Revenue rose 0.6% to $1.14 billion from a year ago;
analysts
expected $1.20 billion. 
    * Timken Co's reported EPS for the quarter was $1.23​.
    * The company reported quarterly net income of $87.9
million.
    * Timken Co shares had fallen by 5.9% this quarter and
lost 2.2%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.3%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Timken Co is
$84.00 
This summary was machine generated from LSEG data November 1 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      1.59           1.55           Missed
 Jun. 30 2023      2.08           2.01           Missed
 Mar. 31 2023      1.89           2.09           Beat
 Dec. 31 2022      1.09           1.22           Beat