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Timken Co. (TKR)

- NYSE
  • Fri, Feb. 13, 12:03 PM
    • Timken (NYSE:TKR) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.35%
    • Payable March 6; for shareholders of record Feb. 23; ex-div Feb. 19.
    | Comment!
  • Thu, Jan. 29, 9:55 AM
    • Adjusted net income from continuing operations of $57.9M, or $0.65 per diluted share vs. $45.2M, or $0.48 per diluted share in the same period a year ago.
    • Revenue by segment: Mobile Industries -7%; Process Industries +12%.
    • Excluding charges, 2015 adjusted earnings per diluted share are expected to range from $2.65-$2.75.
    • Q4 results
    | Comment!
  • Thu, Jan. 29, 7:38 AM
    • Timken (NYSE:TKR): Q4 EPS of $0.65 beats by $0.04.
    • Revenue of $762.2M (+1.7% Y/Y) misses by $8.48M.
    • Press Release
    | Comment!
  • Nov. 18, 2014, 8:23 AM
    • Timken (NYSE:TKR) has reached an agreement with ERIKS to acquire Revolvo, a maker of ball and roller bearings for industrial applications in process and heavy industries.
    • Revolvo posted sales of approximately $8.3M in 2013.
    | Comment!
  • Nov. 14, 2014, 9:51 AM
    • Timken (NYSE:TKR) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.35%
    • Payable Dec. 5; for shareholders of record Nov. 24; ex-div Nov. 20.
    | Comment!
  • Oct. 28, 2014, 9:50 AM
    • Adjusted net income from continuing operations of $69.9M, or $0.77 per diluted share vs. $38.1M, or $0.40 per diluted share in the same period a year ago.
    • Repurchased 2.5M shares, bringing year-to-date repurchases to 5.1M shares.
    • The company expects adjusted earnings per diluted share to be in a range of $2.45-$2.55, consistent with prior estimates at the midpoint, and expects to generate cash from operations of approximately $305M in 2014.
    • Q3 results
    | Comment!
  • Oct. 28, 2014, 7:28 AM
    • Timken (NYSE:TKR): Q3 EPS of $0.77 beats by $0.12.
    • Revenue of $788M (+7.7% Y/Y) beats by $4.89M.
    • Press Release
    | Comment!
  • Oct. 16, 2014, 3:17 PM
    • Timken (TKR -0.2%), Regal Beloit (RBC +0.9%) and Altra Industrial Motion (AIMC +0.6%) have made it to the second round of bidding in the auction for Emerson Electric's (EMR +2%) power transmission solutions business, Reuters reports.
    • P-E firms Warburg Pincus and Onex also are said to be in the running for the unit, which is expected to fetch $1.2B-$1.6B in a sale.
    | Comment!
  • Oct. 1, 2014, 2:00 PM
    • Activist investor Relational Investors "plans to wind down its operations and dissolve its current funds by the end of next year," the WSJ reports. A new fund with the same name is expected to be be eventually launched, but founders Ralph Whitworth and David Batchelder "will cede day-to-day control."
    • The report comes after Whitworth took a leave of absence in July to focus on his health.  Relational has $6B in assets under management.
    • Many of the companies Relational holds positions in have added to their Wedenesday losses following the report: MHR -6.8%. CLH -5.9%. MTW -4.3%. SPW -3.7%. BEAV -3.5%. TKR -3%. HOLX -2.8%. PMCS -3.6%.
    | 2 Comments
  • Sep. 8, 2014, 9:37 AM
    • Timken (TKR) is taking several actions to improve the performance of its Aerospace division, including eliminating segment leadership positions, evaluating alternatives for its MRO parts business and closing its engine overhaul business in Arizona and aerospace bearing facility in the U.K.
    • Beginning in Q4, Timken will no longer report Aerospace financial results separately as a result of these changes.
    • The actions are expected to have negligible impact on the company's 2015 revenues, with Mobile Industries EBIT margins for 2015 targeted in the previously announced 10-13% range.
    | Comment!
  • Aug. 13, 2014, 9:39 AM
    • Timken (TKR +0.7%) is planning an offering of $300M in aggregate principal amount of senior notes due 2024.
    • A percentage of the net proceeds from this offering will be used to repay the $250M aggregate principal amount outstanding at maturity on the company's 6% unsecured senior notes due September 2014.
    • The remaining proceeds will be used for general corporate purposes.
    | Comment!
  • Aug. 5, 2014, 12:03 PM
    • Timken Co. (NYSE:TKR) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.21%
    • Payable Sept. 3; for shareholders of record Aug. 19; ex-div Aug. 15.
    | Comment!
  • Aug. 5, 2014, 9:56 AM
    • Timken's (TKR -0.2%) board has elected Ajita G. Rajendra as a director of the company, increasing the company's board to 10 directors.
    • Rajendra currently serves as the chairman, president and CEO of A. O. (AOS +0.3%).
    | Comment!
  • Jul. 31, 2014, 8:05 AM
    • Timken (NYSE:TKR) reports Q2 consolidated net income of $62.7M compared to $82.8M Y/Y. Net income from continuing operations totaled $56.5M, or $0.61 per diluted share, vs. $55.3M, or $0.57 per diluted share, during the same period a year ago.
    • Adjusted net income from continuing operations dropped to $59.4M from $61.2M Y/Y. Despite strong manufacturing performance and lower selling and administrative expenses, adjusted net income was down slightly due to unfavorable mix, an inventory valuation adjustment and an accrual for value-added tax during the quarter.
    • Sales declined slightly to $789.2M from $791.3M during the same period a year ago, reflecting stronger demand in process industries, offset by lower shipments in mobile industries.
    • Q2 earnings
    | Comment!
  • Jul. 31, 2014, 7:27 AM
    • Timken (NYSE:TKR): Q2 EPS of $0.65 misses by $0.01.
    • Revenue of $789M (-0.3% Y/Y) misses by $11.1M.
    • Press Release
    | Comment!
  • Jul. 9, 2014, 9:09 AM
    • To boost its sales force effectiveness, Timken (TKR) is investing $22M to improve its sales support infrastructure and enhance customer experience.
    • "Timken is well-recognized in the marketplace for its know-how, engineering skills and service support," sys CEO Richard Kyle. "We invest heavily in developing the best and most technically qualified sales force in our industry and our people are highly respected by our customers. "
    | Comment!
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Company Description
The Timken Co manufactures mechanical components. The Company along with its subsidiaries engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers power system rebuild and repair services.