NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Wednesday reported fourth-quarter net income of $71.2 million.
The North Canton, Ohio-based company said it had profit of $1.01 per share. Earnings, adjusted for one-time gains and costs, were $1.16 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The maker of bearings and power transmissions posted revenue of $1.07 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.06 billion.
For the year, the company reported profit of $352.7 million, or $4.99 per share. Revenue was reported as $4.57 billion.
Timken expects full-year earnings in the range of $5.30 to $5.80 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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