Thursday, The Timken Co. (TKR) said its third-quarter net loss attributable to the company was $50.12 million or $0.52 per share compared with a profit of $130.41 million or $1.35 per share in the prior year period.
Adjusted net income attributable to the company plunged to $5.24 million or $0.05 per share from $135.82 million or $1.40 per share in the year-ago period.
On average, 8 analysts polled by Thomson Reuters expected the company to report loss of $0.25 per share for the quarter.
Net sales for the quarter declined to $763.64 million from $1.33 billion in the comparable period. Four analysts estimated revenues of $770.68 million for the quarter.
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