Timken reports first-quarter 2020 results

Timken reports first-quarter 2020 results.q1 adjusted earnings per share $1.11 excluding items.q1 gaap earnings per share $1.06.q1 sales fell 5.7 percent to $923.4 million.suspended its practice of providing detailed sales and earnings guidance.expects to generate strong cash flow over the remainder of 2020.planning for revenue to decline significantly in q2 of 2020.well-positioned with solid balance sheet and significant liquidity.marketsare anticipated to improve from second-quarter levels over remainder of year.plans to reinstate full-year financial guidance at the earliest reasonable opportunity.suspended its share buyback program until further notice.
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