Timken Co. Q1 Profit Decreases, but beats estimates

(RTTNews) - Timken Co. (TKR) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $103.5 million, or $1.46 per share. This compares with $122.3 million, or $1.67 per share, in last year's first quarter.

Excluding items, Timken Co. reported adjusted earnings of $125.7 million or $1.77 per share for the period.

Analysts on average had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.6% to $1.19 billion from $1.26 billion last year.

Timken Co. earnings at a glance (GAAP) :

-Earnings (Q1): $103.5 Mln. vs. $122.3 Mln. last year. -EPS (Q1): $1.46 vs. $1.67 last year. -Revenue (Q1): $1.19 Bln vs. $1.26 Bln last year.