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TKRBearishEarningsnews
Materiality pending

Timken (TKR) Tops Q1 Earnings Estimates, Raises '24 View

May 3, 2024, 2:40 PM EDT1 sourcesAI-analyzed

AI summary

What happened, with direct paths to the underlying reporting

- TKR reported EPS of $1.77, up from $1.50 estimate, but down 15% YoY. - Revenues at $1.19B, down 5.7%, impacted by low demand in China. - TKR expects 2024 revenue to decline 2-4% and adjusted EPS at $6.00-$6.30. - Price Impact Rating: Bearish - Impact Horizon Rating: Short-term - Type: Earnings

  • TKR reported EPS of $1.77, up from $1.50 estimate, but down 15% YoY.
  • Revenues at $1.19B, down 5.7%, impacted by low demand in China.
  • TKR expects 2024 revenue to decline 2-4% and adjusted EPS at $6.00-$6.30.

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