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The Timken Company - TKR STOCK NEWS

Welcome to our dedicated page for The Timken Company news (Ticker: TKR), a resource for investors and traders seeking the latest updates and insights on The Timken Company stock.

The Timken Company (NYSE: TKR; www.timken.com), established in 1899, is a global leader in designing, engineering, and manufacturing engineered bearings and industrial motion products. With over a century of experience, Timken leverages its deep knowledge of metallurgy, tribology, and mechanical power transmission to enhance the efficiency and reliability of machinery worldwide. The company's products include tapered, spherical, and cylindrical roller bearings, thrust and ball bearings, and a variety of gear belts and chain-related products. Timken also offers extensive powertrain rebuild and repair services.

Timken's extensive portfolio features strong industrial brands such as Timken®, Fafnir®, Philadelphia Gear®, Carlisle®, Drives®, and Interlube™. These brands serve a diverse array of end markets, including automotive, aerospace, rail, energy, heavy truck, defense, agriculture, metals, mining, and construction sectors.

Headquartered in North Canton, Ohio, Timken operates in 45 countries with 19,000 employees worldwide. The company reported a revenue of $4.8 billion in 2023, reflecting its significant market presence and operational efficiency. Timken's collaborative technical sales model and commitment to quality have earned it several prestigious accolades, including recognition among America's Most Responsible Companies by Newsweek and the World's Most Ethical Companies® by Ethisphere.

Recent achievements include the completion of six strategic acquisitions in 2023, contributing to a record $4.8 billion in sales. These acquisitions, such as iMECH and Lagersmit, have expanded Timken's industrial motion portfolio and are expected to enhance operating margins. Financially, Timken achieved adjusted net income of $508.1 million for 2023, with impressive EBITDA margins.

The company continues to innovate, focusing on customer-centric solutions and sustainable practices. For instance, Timken's recent CEO succession plan highlights a commitment to leadership continuity and strategic growth, with Tarak Mehta set to take over as CEO in September 2024.

Timken's impact extends beyond financial metrics. Through initiatives like the Timken Global Scholars Program, the company supports education and community development, having awarded over $26 million in scholarships since its inception. As Timken celebrates its 125th anniversary in 2024, it remains dedicated to advancing industrial technology and fostering a sustainable future for global machinery and equipment.

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The Timken Company (NYSE: TKR) will participate in the virtual Oppenheimer 17th Annual Industrial Growth Conference on May 4, 2022. Key executives, including President and CEO Richard G. Kyle and CFO Philip D. Fracassa, will engage in a fireside chat. Investors can access materials shared during the conference on Timken's investor relations website. Timken, recognized for its engineered bearings and power transmission solutions, generated $4.1 billion in sales in 2021 and employs over 18,000 people across 42 countries.

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The Timken Company (NYSE: TKR) will announce its first-quarter 2022 financial results on May 2, 2022, before NYSE trading begins. Investors can access the conference call at 10:00 a.m. ET for insights into the company's financial performance. Conference materials will be available online. Timken reported $4.1 billion in sales for 2021 and operates globally with more than 18,000 employees across 42 countries. The company is recognized among America's Most Responsible Companies and has received accolades for its ethical practices.

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The Timken Company (NYSE: TKR) announced the pricing of $350 million of 4.125% senior unsecured notes due in 2032, priced at 98.373% of par. The offering is expected to close around March 28, 2022, subject to customary conditions. Proceeds from the notes will primarily be used to repay existing borrowings and for general corporate purposes. The notes are issued under an effective shelf registration statement with the SEC. In 2021, Timken reported $4.1 billion in sales, emphasizing its commitment to improving global machinery efficiency and reliability.

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The Timken Company (NYSE: TKR) released its 2021 Annual Report, showcasing record results amid a dynamic operating environment. Key highlights include a $4.1 billion revenue, with $148 million allocated for capital expenditures and a strong focus on renewable energy. The company returned $185 million to shareholders through dividends and share repurchases, marking the eighth consecutive year of dividend increases. Timken also completed its 12th acquisition, expanding its industrial robotics solutions. The focus remains on long-term strategy and operational excellence.

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The Timken Company (NYSE: TKR) will present virtually at the BofA Global Research Global Industrials Conference on March 17, 2022, at 12:15 p.m. GMT (8:15 a.m. EDT). Richard G. Kyle, president and CEO, will represent Timken during the presentation. A live webcast will be available at www.timken.com/investors, with a replay accessible until March 31, 2022. Timken reported $4.1 billion in sales for 2021 and is recognized among America's Most Responsible Companies by Newsweek.

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The Timken Company awarded $540,000 in scholarships to 20 students across various countries, supporting careers in medicine, engineering, economics, and computer science. This initiative is part of the Timken Global Scholars Program, which has disbursed nearly $26 million since 1958. Notable awards include the Henry Timken Scholar Award valued at $25,000 and the Jack Timken Scholar Award at $20,000. Recipients are recognized for their academic excellence and community involvement, demonstrating Timken's commitment to investing in the future of its employees' children.

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The Timken Company (NYSE: TKR) announced it will supply high-precision drives for the world's largest single-site solar power plant, Al Dhafra PV2, located in Abu Dhabi, UAE. This project features 4 million solar panels controlled by 83,000 Cone Drive drives, set to power 160,000 homes and reduce CO2 emissions by 2.4 million metric tons annually. Since acquiring Cone Drive in 2018, Timken's solar revenue has grown at over 20% CAGR, indicating strong demand in renewable energy solutions, which comprised 12% of total sales in 2021.

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The Timken Company (NYSE: TKR) declared a quarterly cash dividend of 30 cents per share, payable on March 4, 2022, to shareholders of record as of February 22, 2022.

This will mark the 399th consecutive quarter of dividend payments, positioning Timken among the longest-running dividend payers on the NYSE since its listing in 1922. In 2021, Timken generated $4.1 billion in sales, reinforcing its status as a global leader in engineered bearings and power transmission products.

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The Timken Company (NYSE: TKR) announced its participation in the Citi 2022 Global Industrial Tech and Mobility Conference on Feb. 23, 2022. Philip D. Fracassa, executive vice president and CFO, will represent the company at the event. During the conference, materials shared will be available online at Timken's investor relations website. Timken has a strong industry presence with $4.1 billion in sales in 2021 and operates in 42 countries, employing over 18,000 people.

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The Timken Company (NYSE: TKR) reported fourth-quarter 2021 sales of $1.01 billion, a 13% increase from the previous year, marking a record for the quarter. Net income rose to $62.9 million or $0.82 per diluted share. For 2021, total sales reached $4.1 billion, up 17.6%, with net income of $369.1 million or $4.79 per share. Despite facing supply chain challenges and inflation, the company projects a 10% revenue increase in 2022, with anticipated earnings per share between $4.85 and $5.25. Timken remains focused on driving profitable growth and enhancing shareholder returns.

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FAQ

What is the current stock price of The Timken Company (TKR)?

The current stock price of The Timken Company (TKR) is $71.63 as of December 20, 2024.

What is the market cap of The Timken Company (TKR)?

The market cap of The Timken Company (TKR) is approximately 5.0B.

What does The Timken Company specialize in?

The Timken Company specializes in engineered bearings and industrial motion products, including tapered, spherical, and cylindrical roller bearings, thrust and ball bearings, gear belts, and chain-related products.

Where is The Timken Company headquartered?

The Timken Company is headquartered in North Canton, Ohio, USA.

How many employees does The Timken Company have?

The Timken Company employs over 19,000 people globally.

What was The Timken Company's revenue in 2023?

The Timken Company reported a revenue of $4.8 billion in 2023.

Who will be the next CEO of The Timken Company?

Tarak Mehta is set to become the CEO of The Timken Company in September 2024.

What are some of the brands under The Timken Company's portfolio?

Some brands under The Timken Company's portfolio include Timken®, Fafnir®, Philadelphia Gear®, Carlisle®, Drives®, and Interlube™.

Which sectors does The Timken Company serve?

The Timken Company serves various sectors including automotive, aerospace, rail, energy, heavy truck, defense, agriculture, metals, mining, and construction.

What is the Timken Global Scholars Program?

The Timken Global Scholars Program is an initiative by The Timken Company to support education and community development, having awarded over $26 million in scholarships since its inception.

What notable awards has The Timken Company received?

The Timken Company has been recognized among America's Most Responsible Companies by Newsweek and the World's Most Ethical Companies® by Ethisphere.

How does The Timken Company contribute to sustainability?

The Timken Company focuses on customer-centric solutions and sustainable practices to improve the reliability and efficiency of global machinery and equipment.

The Timken Company

NYSE:TKR

TKR Rankings

TKR Stock Data

4.99B
62.71M
10.56%
86.59%
1.75%
Tools & Accessories
Ball & Roller Bearings
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United States of America
NORTH CANTON