Timken Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Timken Co. (TKR) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2021, based on the robust and improving market conditions as well as its strong operational execution.

For fiscal 2021, the company now projects earnings in a range of $5.00 to $5.30 per share and adjusted earnings in a range of $5.15 to $5.45 per share on revenue growth of about 18 percent.

Previously, the company expected earnings in a range of $4.45 to $4.85 per share and adjusted earnings in a range of $4.70 to $5.10 per share on revenue growth of about 12 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.99 per share on revenue growth of 11.80 percent to $3.93 billion for the year. Analysts' estimates typically exclude special items.

"Our strong operational execution and diverse, market-leading portfolio are delivering record results, while we continue to invest in our long-term profitable growth," said Richard Kyle, Timken president and chief executive officer.