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Timken Reports Strong Second-Quarter 2021 Results

Timken Reports Strong Second-Quarter 2021 Results
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Timken Reports Record First-Quarter 2021 Results; Raises Full-Year Outlook

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NORTH CANTON, Ohio, April 28, 2021 /PRNewswire/
The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and power transmission products,
today reported first-quarter 2021 sales of $1.03 billion, up 11 percent from the same period a year ago. The increase was driven by organic growth across most end-market sectors led by renewable energy and off-highway, as well as the benefit of currency translation and the Aurora Bearing acquisition. First quarter sales were up 15 percent from the fourth quarter.
Timken posted net income of $113.3 million or $1.47 per diluted share in the first quarter, versus net income of $80.7 million or $1.06 per diluted share for the same period a year ago. The year-over-year increase was primarily driven by higher volume, favorable manufacturing performance and lower selling, general and administrative (SG&A) expenses, partially offset by unfavorable mix and higher m ....

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Timken Reports Fourth-Quarter and Full-Year 2020 Results; Expects Strong Growth in 2021

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NORTH CANTON, Ohio, Feb. 4, 2021 /PRNewswire/ The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products,
today reported fourth-quarter 2020 sales of $891.7 million, down 0.5 percent from the same period a year ago, as the net impact of lower demand offset the favorable impact of acquisitions, currency translation and pricing.
Timken posted net income of $53.1 million or $0.69 per diluted share in the fourth quarter, versus net income of $113.5 million or $1.48 per diluted share for the same period a year ago. The year-over-year decrease in GAAP net income was primarily driven by the net unfavorable impact of special items (detailed in the attached tables), including pension remeasurements and discrete taxes. ....

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