Welcome to our dedicated page for Timken news (Ticker: TKR), a resource for investors and traders seeking the latest updates and insights on Timken stock.
About The Timken Company
The Timken Company (NYSE: TKR) is a globally recognized leader in engineered bearings and industrial motion products, serving a diverse array of industries. With over 125 years of expertise, Timken designs, manufactures, and markets a comprehensive portfolio of products aimed at enhancing the reliability and efficiency of machinery and equipment worldwide. Its offerings include tapered, spherical, and cylindrical roller bearings, gearboxes, belts, chains, and related power transmission products. The company also provides powertrain rebuild and repair services, further broadening its value proposition for industrial customers.
Core Business Segments
Timken operates through two primary business segments:
- Engineered Bearings: This segment encompasses a wide range of bearing solutions, including tapered, spherical, and cylindrical roller bearings, as well as thrust and ball bearings. These products are designed to meet the demanding requirements of industries such as automotive, rail, aerospace, and heavy industry.
- Industrial Motion: Focused on mechanical power transmission, this segment offers gearboxes, belts, chains, couplings, and lubrication systems. It also includes precision drive systems used in automation and robotics, a growing market for Timken.
Market Reach and Customer Base
Timken serves a broad spectrum of end markets, including automotive, aerospace, energy, mining, rail, and agriculture. Its products are critical to operations in industries requiring high-performance machinery and equipment. The company's customer base includes both original equipment manufacturers (OEMs) and end-users, ensuring a diversified revenue stream across geographies and sectors.
Competitive Differentiation
Timken differentiates itself through its deep technical expertise in metallurgy, tribology, and mechanical power transmission. Its strong portfolio of industrial brands, including Timken®, Fafnir®, Philadelphia Gear®, Carlisle®, Drives®, and Interlube™, underscores its reputation for quality and innovation. The company’s collaborative technical sales model and customer-centric approach further enhance its competitive edge.
Strategic Initiatives
Timken has pursued a strategy of diversification and growth through targeted acquisitions. Recent additions, such as CGI Inc., which specializes in precision drive systems for automation, highlight the company’s focus on expanding its capabilities in high-growth markets like robotics and medical technology. This strategic approach has allowed Timken to strengthen its position as a global leader in industrial motion solutions.
Global Footprint
Headquartered in North Canton, Ohio, Timken operates in over 45 countries, employing approximately 19,000 people. Its global presence enables it to meet the needs of customers across diverse markets while maintaining operational resilience and scalability.
Significance in the Industry
Timken plays a pivotal role in advancing industrial productivity and efficiency. Its products are integral to the operation of critical machinery, making it a key player in the supply chains of numerous industries. With a legacy of innovation and a commitment to quality, Timken continues to drive progress in engineered bearings and industrial motion products.
The Timken Company (NYSE: TKR) has declared a quarterly cash dividend of 30 cents per share, payable on September 3, 2021, to shareholders on record as of August 20, 2021. This marks the 397th consecutive quarter of dividend payments since the company's listing in 1922, showcasing its commitment to returning value to shareholders. Timken reported $3.5 billion in sales for 2020 and operates globally with over 17,000 employees.
The Timken Company (NYSE: TKR) reported Q2 2021 sales of $1.06 billion, a 32.3% increase year-over-year, supported by strong growth in key markets and the Aurora Bearing acquisition. Net income reached $104.8 million ($1.36 per diluted share), up from $61.9 million a year ago. Adjusted net income was $106.1 million ($1.37 per diluted share). The company raised its quarterly dividend by 3% to $0.30 per share and expects full-year earnings per diluted share between $5.00 and $5.30, with a revenue increase of approximately 19% compared to 2020.
The Timken Company (NYSE: TKR) will announce its second-quarter 2021 financial results on Monday, Aug. 2, 2021, before NYSE opening. A conference call will discuss the financial performance at 11:00 a.m. ET on the same day. Interested parties can access the live call via telephone or webcast. Timken specializes in engineered bearings and power transmission products, generating $3.5 billion in sales in 2020 with over 17,000 employees across 42 countries.
The Timken Company (NYSE: TKR) reported significant growth in its automatic lubrication systems portfolio, now the world's second largest producer in this category. Revenue for these systems has more than doubled over five years due to strategic acquisitions and organic growth. The company anticipates a record year in 2021 and projects a double-digit CAGR through 2025, fueled by global trends toward automation. Timken is also expanding production in North America and China to meet increasing demand, emphasizing the sustainability and safety benefits of its lubrication systems.
The Timken Company (NYSE: TKR) will present at the KeyBanc Industrials & Basic Materials Virtual Conference on June 3, 2021, at 2 p.m. EDT. CEO Richard G. Kyle and CFO Philip D. Fracassa will represent the company. A live webcast can be accessed at www.timken.com/investors with a replay available until June 17, 2021. Timken reported $3.5 billion in sales in 2020 and operates in 42 countries. The company is recognized as one of America's Most Responsible Companies by Newsweek.
The Timken Company (NYSE: TKR) reported significant growth in the wind energy sector, achieving a 17% CAGR over five years compared to the industry average of 7%. With global demand for renewable energy increasing, Timken anticipates record revenue in 2021 from wind-related operations. The company has invested over $75 million to enhance its capabilities in renewable energy and expects continuous demand for maintenance and repair services for aging turbines. Timken's engineering innovations, including advanced bearings, position it favorably in this growing market.
The Timken Company (NYSE: TKR) has declared a 3% increase in its quarterly cash dividend, raising it to 30 cents per share. This dividend will be payable on June 3, 2021, to shareholders of record as of May 21, 2021. This move marks 99 consecutive years of quarterly dividends, highlighting the company's commitment to returning value to shareholders. Timken's strong financial performance is evidenced by its $3.5 billion sales in 2020, showcasing its ongoing growth and stability.
The Timken Company (NYSE: TKR) will present virtually at the Goldman Sachs Industrials and Materials Conference on May 13, 2021. The presentation will feature Philip D. Fracassa, executive vice president and CFO. Interested parties can access the materials online at investors.timken.com. Timken is known for its engineered bearings and power transmission products, posting $3.5 billion in sales in 2020 and operating in 42 countries with over 17,000 employees.
FAQ
What is the current stock price of Timken (TKR)?
What is the market cap of Timken (TKR)?
What does The Timken Company specialize in?
What industries does Timken serve?
How does Timken differentiate itself from competitors?
What are Timken's main business segments?
Where is Timken headquartered?
What is Timken's approach to growth?
What brands are part of Timken's portfolio?
What is Timken's role in industrial supply chains?
Who are Timken's primary customers?
How does Timken support innovation?
