Timken to Hold Sept. 28 Investor Day; Will Highlight Accomplishments and Outline Plans to Deliver Future Growth

Rhea-AI Summary

The Timken Company (NYSE: TKR) hosted an Investor Day on September 28, 2022, in New York City, where CEO Richard G. Kyle outlined the company's strategic objectives and financial performance. The focus was on profitable growth within engineered bearings and industrial motion portfolios, alongside new long-term financial targets aimed at enhancing shareholder value. Timken reported sales of $4.1 billion in 2021 and operates globally with over 18,000 employees. The company emphasizes its commitment to optimizing reliability and performance in response to emerging market trends.

Positive

• Timken reported $4.1 billion in sales for 2021, highlighting strong revenue performance.
• The company provides new long-term financial targets aimed at driving shareholder value.
• Emphasis on capitalizing on emerging trends in engineered bearings and industrial motion.

Negative

• None.

NORTH CANTON, Ohio, Sept. 28, 2022 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and industrial motion, is hosting an Investor Day at 9:30 a.m. ET today in New York City.

Richard G. Kyle, president and CEO, and other members of the executive leadership team will review the company's strategy and financial performance, and dive deeper into the profitable growth objectives for its engineered bearings and industrial motion portfolios. In addition, the company will provide new long-term financial targets and outline opportunities to drive significant shareholder value.

"Timken is a high-performing diversified industrial leader and a strong investment," said Richard G. Kyle, Timken president and chief executive officer. "With our diverse portfolio, leading product technology and expertise in application engineering, we are well-positioned to capitalize on a number of emerging trends as we meet customers' needs for optimized reliability, efficiency and performance. Our efforts are focused on scaling the enterprise, accelerating the execution of our growth strategy and achieving top-quartile financial performance."

To attend the event via webcast or to access presentation materials, please visit http://investors.timken.com. The webcast passcode is TimkenInvestorDay2022. Presentation materials will be available for download at http://investors.timken.com prior to the start of the event. A replay of the webcast will be accessible for two weeks following the event.

About The Timken Company 
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.

Media Relations: 
Scott Schroeder
234.262.6420 
scott.schroeder@timken.com

Investor Relations:
Neil Frohnapple
234.262.2310 
neil.frohnapple@timken.com

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SOURCE The Timken Company

FAQ

What was discussed at the Timken Investor Day on September 28, 2022?

The Investor Day focused on the company's strategy, financial performance, and growth objectives for engineered bearings and industrial motion.

What are Timken's recent sales figures for 2021?

Timken reported sales of $4.1 billion for the fiscal year 2021.

Who presented at the Timken Investor Day?

Richard G. Kyle, the president and CEO, presented along with other executive leadership team members.

How does Timken plan to enhance shareholder value?

Timken aims to enhance shareholder value through new long-term financial targets and profitable growth in its portfolios.

Where can I find more information about Timken's Investor Day?

More information and presentation materials are available on Timken's investor relations website.