Timken Slashes FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Timken Co. (TKR) on Wednesday slashed its earnings, adjusted earnings and revenue growth guidance for the full-year 2019.

For fiscal 2019, the company now projects earnings in a range of $4.55 to $4.75 per share and adjusted earnings in a range of $4.80 to $5.00 per share on revenue growth of about 7 to 9 percent, with organic growth of 1.5 to 3.5 percent. Previously, the company now projects earnings in a range of $4.95 to $5.15 per share and adjusted earnings in a range of $5.15 to $5.35 per share on revenue growth of about 8 to 10 percent, with organic growth of 3 to 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.25 per share on revenue growth of 9.0 percent to $3.90 billion for the year. Analysts' estimates typically exclude special items.