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Dec 31, 2022
Timken Q4 2022 Earnings Report
Reported strong fourth-quarter and full-year results driven by strong execution and improved price-cost performance.
Key Takeaways
Timken reported a 7.4% increase in fourth-quarter sales to $1.08 billion, driven by organic growth and acquisitions. Net income rose to $97.2 million, or $1.32 per diluted share, compared to $62.9 million, or $0.82 per diluted share in the same period last year. The company provided initial estimate for 2023 EPS of $5.80-$6.40, with adjusted EPS of $6.50-$7.10.
Sales of $1.08 billion in the fourth quarter, up 7 percent in total and 10 percent organically from last year
Fourth-quarter EPS of $1.32; adjusted EPS of $1.22
Record full-year 2022 EPS of $5.48; record adjusted EPS of $6.02
Company provides initial estimate for 2023 EPS of $5.80-$6.40, with adjusted EPS of $6.50-$7.10
Timken
Timken
Timken Revenue by Segment
Revenue by Segment
Engineered Bearings Revenue
CapyFin.comIndustrial Motion Revenue
CapyFin.com Forward Guidance
Timken is setting an initial outlook for 2023 earnings per diluted share in the range of $5.80 to $6.40. Excluding acquisition intangible amortization expense and other special items, the company estimates that 2023 adjusted earnings per diluted share will be in the range of $6.50 to $7.10. The company expects 2023 revenue to be up approximately 6 percent in total at the midpoint from 2022.
Positive Outlook
- We expect to benefit from favorable price-cost
- We expect to benefit from organic outgrowth initiatives
- We expect to benefit from improving operational execution
- We expect to benefit from the impact of our recent acquisitions.
- We are projecting a sizeable step-up in operating cash flow this year and we will continue to create value through our disciplined approach to capital allocation.
Challenges Ahead
- While uncertainty remains elevated
Revenue & Expenses
Visualization of income flow from segment revenue to net income