Timken Co. Q1 Profit Increases, beats estimates

(RTTNews) - Timken Co. (TKR) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $122.3 million, or $1.67 per share. This compares with $118.2 million, or $1.56 per share, in last year's first quarter.

Excluding items, Timken Co. reported adjusted earnings of $153.5 million or $2.09 per share for the period.

Analysts on average had expected the company to earn $1.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.3% to $1.262 billion from $1.124 billion last year.

Timken Co. earnings at a glance (GAAP) :

-Earnings (Q1): $122.3 Mln. vs. $118.2 Mln. last year. -EPS (Q1): $1.67 vs. $1.56 last year. -Analyst Estimate: $1.89 -Revenue (Q1): $1.262 Bln vs. $1.124 Bln last year.

-Guidance: Full year EPS guidance: $7.00 - $7.50