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Dec 31, 2023
Timken Q4 2023 Earnings Report
Reported strong fourth-quarter results, concluding a record-breaking 2023.
Key Takeaways
Timken reported Q4 2023 sales of $1.09 billion, a 1% increase year-over-year, with earnings per share (EPS) at $0.83 and adjusted EPS at $1.37. The company's net income for the quarter was $58.7 million. They also provided an initial estimate for 2024 EPS of $4.90-$5.30, and adjusted EPS of $5.80-$6.20.
Fourth-quarter sales reached $1.09 billion, a 1 percent increase from the previous year.
Fourth-quarter earnings per share (EPS) were reported at $0.83, with adjusted EPS at $1.37.
Adjusted EBITDA in the quarter was $195.4 million, representing 17.9 percent of sales.
The company returned $55.7 million to shareholders through dividends and share repurchases during the quarter.
Revenue by Segment
Forward Guidance
Timken is setting an initial outlook for 2024 revenue to be down in the range of 2.5% to 4.5% in total, as the benefit of acquisitions completed during 2023 is expected to be more than offset by lower anticipated organic revenue based on the current demand environment. The company is planning for earnings per diluted share in the range of $4.90 to $5.30 and adjusted earnings per diluted share in the range of $5.80 to $6.20.
Positive Outlook
- Actively managing costs.
- Driving operational excellence initiatives.
- Benefiting from recent acquisitions.
- Accelerating integration activities.
- Realizing synergies.
Challenges Ahead
- Softer industrial markets.
- Lower anticipated organic revenue.
- Lower demand environment.
- Macroeconomic volatility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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