Timken reports strong second-quarter 2023 results

Record sales of $1.27 billion, up 10 percent from last year second-quarter eps of $1.73; adjusted eps of $2.01 net income margin of 9.8 percent; adjusted ebitda margin of 20.7 percent repurchased 1.3 million shares during the quarter   updates 2023 outlook; now expects 2023 eps of $5.70-$6.10, with adjusted eps of $6.90-$7.30 north canton, ohio , aug. 3, 2023 /prnewswire/ -- the timken company (nyse: tkr; www.timken.com), a global leader in engineered bearings and industrial motion products, today reported second-quarter 2023 sales of $1.27 billion, up 10.3 percent from the same period a year ago. the increase was driven by the benefit of acquisitions (net of divestitures) and continued organic growth in both segments led by industrial motion, partially offset by unfavorable foreign currency translation.
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