Timken Q4 Earnings Rise, But Miss View

(RTTNews) - The Timken Company (TKR) posted higher profit in the fourth quarter, helped by increase in revenue. However, earnings missed the consensus estimates. The company guided full-year earnings outlook below estimates while revenue outlook comes in better than view.

Net income was reported at $62.9 million or $0.82 per share in the fourth quarter, compared with $53.1 million or $0.69 per share for the same period a year ago.

Excluding special items, profit was $59.6 million or $0.78 per share. On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.91 per share. Analysts' estimates typically exclude special items.

Fourth-quarter sales were logged at $1.01 billion, up 13 percent from the same period a year ago. The consensus estimate was for $982.62 million.

The company attributed higher sales to strong organic growth across most end-market sectors led by industrial distribution and off-highway, and the impact of higher pricing.

Looking forward, Timken expects full-year 2022 revenue to be up 10% year-over-year while adjusted EPS are expected between $5.00 and $5.40. On average, analysts estimate earnings of $5.71 per share and revenue growth of 7.4%.