NORTH CANTON, Ohio (AP) — NORTH CANTON, Ohio (AP) — Timken Co. (TKR) on Wednesday reported second-quarter net income of $78.5 million.
On a per-share basis, the North Canton, Ohio-based company said it had profit of $1.12. Earnings, adjusted for one-time gains and costs, were $1.42 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The maker of bearings and power transmissions posted revenue of $1.17 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.15 billion.
Timken expects full-year earnings in the range of $5.10 to $5.40 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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