Timken Co. Q4 Profit Decreases, but beats estimates

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

The company's earnings came in at $58.7 million, or $0.83 per share. This compares with $97.2 million, or $1.32 per share, in last year's fourth quarter.

Excluding items, Timken Co. reported adjusted earnings of $97.3 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.8% to $1.091 billion from $1.082 billion last year.

Timken Co. earnings at a glance (GAAP) :

-Earnings (Q4): $58.7 Mln. vs. $97.2 Mln. last year. -EPS (Q4): $0.83 vs. $1.32 last year. -Analyst Estimates: $1.22 -Revenue (Q4): $1.091 Bln vs. $1.082 Bln last year.