Timken cuts FY24 adjusted EPS view to $5.55-$5.65 from $6.00-$6.20

Consensus $6.06. The company now expects revenue to be down approximately 4 percent in total from 2023. “The second half of this year has been more challenging than expected, and we are taking appropriate actions to strengthen the company for 2025 and beyond,” said Mehta. “Our team is focused on reducing costs near-term while advancing the company for the long-term. Timken (TKR) remains well-positioned to capitalize on an industrial market recovery when it occurs and to benefit from continuing secular growth trends. As Timken celebrates its 125th anniversary, we are more confident than ever about the future of the company and excited by the opportunities that lie ahead.”