logo
  

Timken Maintains FY21 Adj. EPS Outlook - Quick Facts

While reporting financial results for the second quarter on Monday, Timken Co. (TKR) maintained its earnings and adjusted earnings guidance for the full-year 2021, but raised its annual revenue growth outlook.

For fiscal 2021, the company continues to project earnings in a range of $5.00 to $5.30 per share and adjusted earnings in a range of $5.15 to $5.45 per share, but expects revenue growth of about 19 percent, up from the prior growth guidance of 18 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.39 per share on revenue growth of 17.80 percent to $4.14 billion for the year. Analysts' estimates typically exclude special items.

"While supply chain and other cost pressures are likely to persist through the rest of the year, we expect to deliver record revenue and earnings per share in 2021 and move into 2022 with significant market and operational momentum," said Richard Kyle, Timken president and chief executive officer.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Salt Lake City, Utah-based Creminelli Fine Meats is recalling around 4,207 pounds of ready-to-eat or RTE parmesan salami sticks citing misbranding and an undeclared allergen, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves 2.6-oz. plastic pouches containing "CREMINELLI FINE MEATS salami minis UNCURED ITALIAN SALAMI PARMESAN" with "BES The U.S. Food and Drug Administration is proposing a rule that will broaden the range of nonprescription or over-the counter drugs available to consumers. The rule titled, "Nonprescription Drug Product with an Additional Condition for Nonprescription Use," is intended to increase options for the development of safe and effective nonprescription drugs. The U.S. Food and Drug Administration announced that Australian organic infant formula and baby food producer, Bellamy's Organic, has agreed to send around 696,000 cans of general formula milk to the United States to meet the supply shortage. Under the FDA's enforcement discretion to source more infant formula to the U.S., the available Bellamy's Organic products include about 1.4 million pounds.
RELATED NEWS
Follow RTT