NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Tuesday reported first-quarter net income of $103.5 million.
On a per-share basis, the North Canton, Ohio-based company said it had net income of $1.46. Earnings, adjusted for one-time gains and costs, were $1.77 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The maker of bearings and power transmissions posted revenue of $1.19 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.16 billion.
Timken expects full-year earnings in the range of $6 to $6.30 per share.
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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
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