NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Wednesday reported first-quarter earnings of $98.2 million.
The North Canton, Ohio-based company said it had net income of $1.40 per share. Earnings, adjusted for one-time gains and costs, came to $1.67 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The maker of bearings and power transmissions posted revenue of $1.23 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.17 billion.
Timken expects full-year earnings in the range of $5.75 to $6.25 per share.
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