Timken Co. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Timken Co. (TKR) reported earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $81.8 million, or $1.16 per share. This compares with $87.9 million, or $1.23 per share, in last year's third quarter.

Excluding items, Timken Co. reported adjusted earnings of $87.0 million or $1.23 per share for the period.

Analysts on average had expected the company to earn $1.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.4% to $1.126 billion from $1.142 billion last year.

Timken Co. earnings at a glance (GAAP) :

-Earnings (Q3): $81.8 Mln. vs. $87.9 Mln. last year. -EPS (Q3): $1.16 vs. $1.23 last year. -Revenue (Q3): $1.126 Bln vs. $1.142 Bln last year.

-Guidance: Full year EPS guidance: $5.55 to $5.65