Industryweek 6864 Timken

Timken Raises Earnings Forecast

June 19, 2014
The ball bearings maker raises its full-year earnings forecast in face of increased demand for its products.

Ball bearings maker Timken Co. (IW500/201) raised its full-year earnings forecast due to increased demand for its products.

The company said it expects full-year earnings from continuing operations of $2.40-$2.60 per share, above its previous estimate of $2.20-$2.50.

Timken also authorized an additional 10 million share buyback program.

By Abinaya Vijayaraghavan, Reuters
Editing by Saumyadeb Chakrabarty

Copyright Reuters, 2014

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