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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.

News

Timken Awards $540,000 in Scholarships to 20 Future Leaders and Innovators

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The Timken Company awards scholarships to 20 students worldwide, totaling over $26 million since 1958. The program supports children of Timken employees pursuing various careers. Notable recipients include Aidan Byers and Haley Steppler, receiving $25,000 and $20,000 annually, respectively. The company aims to invest in future leaders across different countries and disciplines.
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Timken Declares Quarterly Dividend of 33 Cents Per Share

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The Timken Company (TKR) has declared a quarterly cash dividend of 33 cents per share, payable on March 6, 2024, to shareholders of record as of Feb. 20, 2024. This marks the 407th consecutive quarter of dividend payments, showcasing Timken's strong commitment to rewarding its shareholders. Timken is a global leader in engineered bearings and industrial motion products, with a long-standing presence in the market since its original listing on the NYSE in 1922.
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Timken Reports Strong Fourth-Quarter Results to Close Out a Record 2023

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The Timken Company reported fourth-quarter 2023 sales of $1.09 billion, up 1 percent from the same period a year ago. The full-year 2023 EPS was $5.47, with an adjusted EPS of $7.05. However, the company provided an initial estimate for 2024 EPS of $4.90-$5.30, with adjusted EPS of $5.80-$6.20 on lower anticipated demand. The company also completed two significant acquisitions in 2023, added $70 million of pro forma annual revenue, and was named one of America's Most Responsible Companies for the fourth straight year.
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American Woodmark Adds Philip Fracassa, Executive Vice President and CFO at Timken, to the Board of Directors

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American Woodmark Corporation (AMWD) announced the addition of Philip Fracassa to its board of directors. Fracassa brings extensive financial management expertise and global manufacturing experience, having served as executive vice president and CFO of The Timken Company. He holds a CPA and a law degree, and has a background in accounting and tax law. Fracassa's addition aims to strengthen the company's board and ensure effective strategy execution.
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Timken to Announce Fourth-Quarter and Full-Year 2023 Financial Results on Feb. 5

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The Timken Company (TKR) will release its 2023 fourth-quarter and full-year financial results on February 5, 2024, and host a conference call to discuss its financial performance with investors and securities analysts. The company is a global leader in engineered bearings and industrial motion products. The financial results and conference call materials will be available online at http://investors.timken.com.
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Timken Adds Engineered Sealing Solutions to Portfolio with Lagersmit Acquisition

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The Timken Company (NYSE: TKR) has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for marine, dredging, and industrial applications. Lagersmit is expected to generate around $40 million in revenue in 2023, adding engineered sealing products to Timken's portfolio and strengthening its presence in the marine market.
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Timken Recognized by Newsweek as One of America's Most Responsible Companies for Fourth Year in a Row

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The Timken Company (TKR) has been recognized by Newsweek and Statista Inc. as one of America's Most Responsible Companies 2024 for the fourth consecutive year. Timken's commitment to corporate social responsibility (CSR) is reflected in its global initiatives and engineering expertise, aligning with its business strategy. The company's sustainable and responsible practices extend to its operations and solutions for customers' challenges. Timken is listed in the capital goods subcategory among the top 600 most responsible companies in the United States, selected based on key performance indicators (KPIs) and a survey of 17,000 U.S. residents.
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Timken to Participate in the Melius Research Conference

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The Timken Company (TKR) will attend the Melius Research Conference on Dec. 7, 2023 in New York City. Philip D. Fracassa, EVP and CFO, and Neil Frohnapple, IR director, will represent Timken. Materials shared during the conference will be available online at www.timken.com/investors.
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Timken Declares Quarterly Dividend of 33 Cents Per Share

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The Timken Company has declared a quarterly cash dividend of 33 cents per share. The dividend is payable on Nov. 29, 2023, to shareholders of record as of Nov. 14, 2023. This marks the company's 406th consecutive quarter of paying dividends and its tenth consecutive year of annual dividend growth.
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Timken Completes Acquisition of Engineered Solutions Group (iMECH)

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The Timken Company has completed its acquisition of Engineered Solutions Group (iMECH), a manufacturer of bearings and components for the energy industry. iMECH employs around 70 people and projects revenue of $30 million for 2023.
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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.

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The Timken Company

NYSE:TKR

TKR Rankings

#1280 Ranked by Market Cap
#1440 Ranked by Dividends

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