Timken (TKR) Tops Q1 EPS by 4c, Revenues Beat

Timken (NYSE: TKR) reported Q1 EPS of $1.11, $0.04 better than the analyst estimate of $1.07. Revenue for the quarter came in at $923.4 million versus the consensus estimate of $917.84 million.

"First quarter revenue and profitability improved meaningfully from the fourth quarter of 2019 as we expected, despite the impact from the COVID-19 pandemic," said Richard G. Kyle, Timken president and chief executive officer. "The Timken team responded quickly to the pandemic, prioritizing the health and safety of our global associates and stakeholders. We have also taken significant short-term cost-reduction actions across the enterprise to mitigate the impact of COVID-19 on our second-quarter performance. We are confident in our ability to successfully manage through the challenges that lie ahead."

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

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