Timken Company (TKR) Reports Q3 Earnings; Raises FY Outlook
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- Timken Company (TKR) Reports Q3 Earnings; Raises FY Outlook
The Timken Company (NYSE: TKR) reports a Q3 loss of $0.20 (Ex loss from Needle Roller Bearings business) vs. consensus for $0.25 loss.
(NOTE - Excluding special items, net income was $5.2 million, or $0.05 per share, for the third quarter, including a loss of $2.3 million, or $0.03 per share, from discontinued operations. Income from the company's continuing operations for the third quarter was $7.5 million, or $0.08 per share, excluding special items)
Revenues were $763.6 million vs. $770.68 million consensus.
The company is raising its full-year earnings estimate (including discontinued operations and excluding special items), to a loss of $(0.10) to $(0.30) per share, compared with its prior estimate of a loss of $(0.40) to $(0.90) per share. (Consensus is a loss of $0.52)
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