Timken: Q4 Earnings Snapshot

Associated Press Finance
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NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Monday reported fourth-quarter earnings of $58.7 million.

On a per-share basis, the North Canton, Ohio-based company said it had net income of 83 cents. Earnings, adjusted for non-recurring costs, were $1.37 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.

The maker of bearings and power transmissions posted revenue of $1.09 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.06 billion.

For the year, the company reported profit of $394.1 million, or $5.47 per share. Revenue was reported as $4.77 billion.

Timken expects full-year earnings in the range of $5.80 to $6.20 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

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