2023-08-03 06:54:22 ET
- Timken press release ( NYSE: TKR ): Q2 Non-GAAP EPS of $2.01 misses by $0.07 .
- Revenue of $1.27B (+10.4% Y/Y) misses by $30M .
- Engineered Bearings sales of $857.2 million increased 7.4 percent from the same period a year ago. The increase was driven by the benefit of acquisitions and modest organic growth, partially offset by unfavorable foreign currency translation.
- Updates 2023 outlook; now expects 2023 EPS of $5.70-$6.10, with adjusted EPS of $6.90-$7.30
For further details see:
Timken Non-GAAP EPS of $2.01 misses by $0.07, revenue of $1.27B misses by $30M