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Dec 31, 2021
Timken Q4 2021 Earnings Report
Reported sales increase of 13 percent with GAAP EPS of $0.82 and adjusted EPS of $0.78.
Key Takeaways
Timken announced fourth-quarter sales of $1.01 billion, a 13% increase year-over-year. GAAP EPS was $0.82, and adjusted EPS was $0.78. The company expects strong revenue and earnings growth in 2022.
Sales of $1.01 billion in the fourth quarter, up 13 percent from last year
Fourth-quarter earnings per diluted share of $0.82 on a GAAP basis, with adjusted EPS of $0.78
Record full-year 2021 earnings per diluted share of $4.79 on a GAAP basis and record adjusted EPS of $4.72
Company expects strong revenue and earnings growth in 2022; provides initial estimate for 2022 GAAP earnings per diluted share of $4.85-5.25, with adjusted EPS of $5.00-5.40
Timken
Timken
Forward Guidance
Timken is currently planning for 2022 revenue to be up approximately 10 percent in total versus 2021. The company is setting an initial outlook for earnings per diluted share in the range of $4.85 to $5.25 for the full year on a GAAP basis. Excluding special items, the company estimates that 2022 adjusted earnings per diluted share will be in the range of $5.00 to $5.40.
Positive Outlook
- Anticipate strong revenue and earnings growth in 2022
- Driven by continued robust industrial demand
- Price realization
- Outgrowth initiatives
- Well-positioned to deliver record revenue and earnings again in 2022
Challenges Ahead
- Operating environment remains dynamic, with a higher degree of uncertainty than normal
- Planning for the supply chain challenges experienced in the second half of 2021 to largely persist through 2022
- Inflationary pressures experienced in the second half of 2021 to largely persist through 2022
- Supply chain challenges
- Inflationary pressures