Timken (TKR) Misses Q1 EPS by 6c; Trims FY15 EPS Outlook

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Timken Reports First-Quarter Results, Updates 2015 Outlook

April 30, 2015 7:26 AM EDT

NORTH CANTON, Ohio, April 30, 2015 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in bearings, today reported sales of $723 million for the first quarter of 2015, down 2 percent from a year ago. This reflects growth of nearly 3 percent, driven by Process Industries, which was more than offset by unfavorable currency of almost 5 percent.

Pension settlement and other restructuring charges in the first quarter drove a net loss from... More