Timken: Q3 Earnings Snapshot
NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Wednesday reported third-quarter net income of $87.9 million.
The North Canton, Ohio-based company said it had net income of $1.23 per share. Earnings, adjusted for non-recurring costs, came to $1.55 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The maker of bearings and power transmissions posted revenue of $1.14 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.2 billion.
Timken expects full-year earnings in the range of $6.85 to $6.95 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TKR at https://www.zacks.com/ap/TKR
