EarningsTKR reported a large segment EBITDA beat that was +15% vs. Visible Alpha Consensus, largely driven by better performance in Engineered Bearings.
Financial PerformanceTimken's 2024 revenue guidance continues to leave uncertainty to the upside—particularly as comps ease, newer-market secular support remains unchanged, and channel inventories are generally lean.
OutlookThe company maintained the FY24 guide of high 18's on positive price, productivity, and manufacturing cost benefits as they ramp their facilities in Mexico and India.