Timken (TKR) is withdrawing its full year 2021 financial outlook
Get Alerts TKR Hot Sheet
EPS Growth %: -27.3%
Financial Fact:
Dividends per share: 0.26
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and power transmission products, today announced that it expects lower sales and earnings in the second half of 2021, compared to the company's prior expectations. Timken's results are being impacted by unabating customer and supply chain disruptions and related manufacturing inefficiencies, as well as continued inflationary pressures across the enterprise.
Underlying customer demand and end-market momentum remain strong across most sectors, and the company expects a robust industrial market environment for the remainder of 2021 and throughout 2022. Timken is working to mitigate the impact of the supply chain challenges and inflationary pressures through improved operational efficiencies and pricing. The company continues to implement price increases and expects significant price realization in 2022.
Given the unpredictability of the current environment, Timken is withdrawing its full year 2021 financial outlook, which was last updated on August 2, 2021. The company will provide further updates when it reports financial results for the third quarter of 2021.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Benchmark on Take-Two's (TTWO) GTV 6 Release: 'we anticipate that the game will not be released within the fiscal year and expect it to launch in fiscal 2026 instead'
- Argus Downgrades Crown Castle (CCI) to Hold
- Schlumberger (SLB) earnings in-line, revenue beats expectations
Create E-mail Alert Related Categories
Corporate News, Guidance, Hot GuidanceRelated Entities
Raising Prices, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!