In This Article:
NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Wednesday reported first-quarter net income of $78.3 million.
The North Canton, Ohio-based company said it had profit of $1.11 per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The maker of bearings and power transmissions posted revenue of $1.14 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $1.12 billion.
Timken expects full-year earnings in the range of $5.10 to $5.60 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TKR at https://www.zacks.com/ap/TKR