Timken reports strong fourth-quarter results to close out a record 2023

Sales of $1.09 billion in the fourth quarter, up 1 percent from last year fourth-quarter earnings per share of $0.83; adjusted eps of $1.37 record full-year sales of $4.8 billion, up 6 percent from last year full-year 2023 eps of $5.47; record adjusted eps of $7.05 full-year net income margin of 8.3 percent; adjusted ebitda margin of 19.7 percent company provides initial estimate for 2024 eps of $4.90-$5.30, with adjusted eps of $5.80-$6.20 on lower anticipated demand north canton, ohio , feb. 5, 2024 /prnewswire/ -- the timken company (nyse: tkr; www.timken.com), a global leader in engineered bearings and industrial motion products, today reported fourth-quarter 2023 sales of $1.09 billion, up 0.9 percent from the same period a year ago. the increase was driven by the benefit of acquisitions (net of divestitures), higher pricing and favorable foreign currency translation, partially offset by lower volume across several industrial sectors including wind energy and off-highway.
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