Timken (TKR) Tops Q1 EPS by 27c, Revenues Beat; Raises FY21 EPS Outlook Above Consensus
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Timken Reports Record First-Quarter 2021 Results; Raises Full-Year Outlook
April 28, 2021 6:51 AM EDTNORTH CANTON, Ohio, April 28, 2021 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and power transmission products, today reported first-quarter 2021 sales of $1.03 billion, up 11 percent from the same period a year ago. The increase was driven by organic growth across most end-market sectors led by renewable energy and off-highway, as well as the benefit of currency translation and the Aurora Bearing acquisition. First quarter sales were up 15 percent from the fourth quarter.
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