Timken Co. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Timken Co. (TKR) revealed a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $69.3 million, or $0.99 per share. This compares with $81.8 million, or $1.16 per share, last year.

Excluding items, Timken Co. reported adjusted earnings of $96.2 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.24 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.8% to $1.157 billion from $1.126 billion last year.

Timken Co. earnings at a glance (GAAP) :

-Earnings: $69.3 Mln. vs. $81.8 Mln. last year. -EPS: $0.99 vs. $1.16 last year. -Revenue: $1.157 Bln vs. $1.126 Bln last year.

-Guidance: Full year EPS guidance: $5.20 - $5.30