Timken (TKR) Tops Q3 EPS by 23c, Revenues Beat

Timken (NYSE: TKR) reported Q3 EPS of $1.13, $0.23 better than the analyst estimate of $0.90. Revenue for the quarter came in at $895 million versus the consensus estimate of $817.12 million.

• Posted third-quarter sales of $895 million, down 2.1 percent from last year
• Third-quarter earnings per diluted share were $1.16 on a GAAP basis, with adjusted EPS of $1.13
• Generated strong cash from operations of $154 million and free cash flow of $124 million in the quarter

"We are pleased with our performance in the third quarter," said Richard G. Kyle, Timken president and chief executive officer. "Our markets continued to recover from the April trough, and with our strong execution, revenue exceeded our expectations and approached last year's level. Additionally, our strategy to diversify our portfolio and increase our presence in sectors like renewable energy is contributing to our top-line performance in 2020. I am proud of how our Timken associates have shown resilience through the global pandemic. We continue to keep our operations safe, serve customers, deliver solid financial results and position the company for long-term success."

For earnings history and earnings-related data on Timken (TKR) click here.

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