Timken reports first-quarter 2024 results; raises full-year outlook

Sales of $1.19 billion, down 5.7 percent from last year first-quarter earnings per share of $1.46; adjusted eps of $1.77 strong margin performance in the quarter, with net income margin of 8.7 percent and adjusted ebitda margin of 20.7 percent raises full-year 2024 outlook; now expects eps of $5.10-$5.40, with adjusted eps of $6.00-$6.30, on improved organic revenue north canton, ohio , april 30, 2024 /prnewswire/ -- the timken company (nyse: tkr; www.timken.com), a global technology leader in engineered bearings and industrial motion, today reported first-quarter 2024 sales of $1.19 billion, down 5.7 percent from the same period a year ago. the decrease was driven by lower demand, including a significant decline in renewable energy in china, and unfavorable foreign currency translation, partially offset by the benefit of acquisitions (net of divestitures) and favorable pricing.
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