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Last $39.60 USD
Change Today +0.30 / 0.76%
Volume 600.8K
TKR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 6:40 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

timken co (TKR) Snapshot

Open
$39.24
Previous Close
$39.30
Day High
$39.88
Day Low
$38.99
52 Week High
07/3/14 - $49.96
52 Week Low
10/15/14 - $37.62
Market Cap
3.4B
Average Volume 10 Days
688.7K
EPS TTM
$2.69
Shares Outstanding
86.4M
EX-Date
05/14/15
P/E TM
14.7x
Dividend
$1.04
Dividend Yield
2.55%
Current Stock Chart for TIMKEN CO (TKR)

timken co (TKR) Related Businessweek News

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timken co (TKR) Details

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, and chain and related products worldwide. It operates in two segments: Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chain, augers, and related products and maintenance services to original equipment manufacturers (OEMs) of off-highway equipment for the agricultural, construction, and mining markets. It also provides parts to on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives; power transmission systems and flight-critical components for civil and military aircraft, which comprise bearings, helicopter transmission systems, rotor-head assemblies, turbine engine components, gears, and housings; and offers aftermarket products and services, including complete engine overhaul, aerospace bearing repair, component reconditioning, and replacement parts. This segment sells it parts through a network of authorized automotive and heavy-truck distributors to individual end users, equipment owners, operators, and maintenance shops. The Process Industries segment supplies industrial bearings and assemblies; power transmission components, including gears and gearboxes; and couplings, seals, lubricants, chains, and related products and services to OEMs and end-users in various industries. It also supports aftermarket sales and service needs through its network of authorized industrial distributors; and offers repair and service for bearings and gearboxes, as well as electric motor rewind, repair, and services to end users. In addition, this segment manufactures precision bearings, complex assemblies, and sensors for manufacturers of health and critical motion control equipment. The Timken Company was founded in 1899 and is headquartered in North Canton, Ohio.

16,000 Employees
Last Reported Date: 05/1/15
Founded in 1899

timken co (TKR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $850.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $417.1K
Executive Vice President and Group President
Total Annual Compensation: $512.5K
Executive Vice President, General Counsel and...
Total Annual Compensation: $455.1K
Principal Accounting Officer, Senior Vice Pre...
Total Annual Compensation: $282.0K
Compensation as of Fiscal Year 2014.

timken co (TKR) Key Developments

The Timken Company Approves Quarterly Dividend, Payable on June 2, 2015

The board of directors of The Timken Company approved a 4% increase to the company's quarterly dividend, raising it to $0.26 per share. The dividend to shareholders of record as of May 18, 2015, is payable on June 2, 2015.

The Timken Company Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revised Earnings Guidance for the Fiscal 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015

The Timken Company announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported 2015 first quarter adjusted net income from continuing operations of $44.2 million, or $0.50 per diluted share, compared to $47 million, or $0.50 per diluted share in the same period a year ago. The first quarter results were adjusted to reflect the impact of negative currency and unfavorable mix, partially offset by the benefit of higher volume, lower selling, general and administrative expenses and a lower tax rate. EPS also benefited from the company's share buyback program, including 2.3 million shares repurchased in the first quarter. On a GAAP basis the company said pension settlement and other restructuring charges drove a net loss from continuing operations of $134.8 million, or $1.54 per share, compared with net income from continuing operations during the same period a year ago of $60.3 million or $0.64 per diluted share. Revenues of $722.5 million were down from $736.8 million in first quarter 2014. Growth of 2.5% driven by wind energy, military marine and rail sectors, and the benefit of acquisitions. Operating loss was $147.4 million against income of $72.4 million a year ago. Loss before interest and taxes (LBIT) was $148.8 million against profit of $92.8 million a year ago. Loss from continuing operations before income taxes was $156.1 million against profit of $88.3 million a year ago. Net loss attributable to the company was $135.2 million or $1.54 diluted per share against profit of $83.5 million or $0.90 diluted per share a year ago. Net cash provided by operating activities from continuing operations was $17.0 million against net cash used in operating activities of $1.3 million a year ago. Capital expenditures were $19.7 million against $19.1 million a year ago. Consolidated earnings before interest and taxes (EBIT), after adjustments was $73.0 million against $75.1 million a year ago. The company ended the quarter with net debt of $354 million or 20% of capital, up from 13% at the end of 2014. Operating cash flow from continuing operations for the quarter was $17 million, up from last year's use of cash of roughly $1 million. The improvement was driven by lower trade working capital needs and lower pension payments compared to the first quarter of last year. The company has updated 2015 full year guidance and now expects year-over-year revenues to be down approximately 4%, adjusted from prior guidance of 1% growth. The guidance implies projected revenues of $2.97 billion. The company now expects full-year 2015 adjusted EPS in the range of $2.30 to $2.40, down from previous guidance of $2.65 to $2.75. The company projects 2015 earnings per diluted share to range from $0.60 to $0.70, which includes $1.75 of non-cash pension settlement charges and $0.20 per share of impairment and other restructuring charges, partially offset by $0.25 of income associated with discrete tax accrual adjustments. EBIT margin expects approximately of 11.5% from prior guidance of 12.5% to 13%. Sales now expects of $3.0 billion from $3.1 billion prior guidance. Free cash flow of $190 million and assumes capex of approximately 4% of sales. The company expects to maintain a 32% adjusted tax rate for the remainder of 2015. The company reported impairment charges of $2.7 million for the first quarter ended March 31, 2015.

The Timken Company Expands Product Offering of High Performance Spherical Roller Bearings

The Timken Company expects to prompt a spherical revolution with its recent introduction of medium bore high-performance Timken(®) spherical roller bearings, including new steel cage sizes. Spherical roller bearings are widely used in process industries in equipment ranging from continuous casters, crushers, vibratory screens, excavation loaders and conveyors. To help customers select Timken spherical roller bearings, Timken offers downloads of 2D drawings and 3D models for addition to presentations or insertion directly into a CAD system. Testing also showed that eliminating the center guide ring reduces running torque up to 4%. Without a guide ring, less friction is created, so less energy is needed to move the bearing and keep it moving, meaning improved efficiency. These features can contribute to longer bearing life, resulting in a product that is designed to: Minimize Wear. Improved profiles designed to reduce internal stresses and optimize load distribution minimize wear; Carry Higher Loads. Longer rollers give more surface area to carry the load, enabling customers to do more and operate with higher loads; Run Cooler. Enhanced surface finishes can result in improved lube film, which avoids metal-to-metal contact to keep things running cooler; Run Longer. Hardened steel cages are designed to deliver greater fatigue strength, increased wear resistance and tougher protection against shock and acceleration, making it possible for the bearing to run longer.

 

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Price/Book 2.4x
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TEV/Sales 0.9x
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