By Connor Hart
Shares of Timken climbed after the company raised its outlook for the year and reported higher-than-expected first-quarter earnings.
The stock was up 13% to a 52-week high $123.41 in late Wednesday morning trading, extending its advance to 46% since the beginning of the year.
The bearings maker said before the bell that it now expects earnings of $4.70 to $5.20 a share for the year, or $5.75 to $6.25 a share on an adjusted basis. It had previously guided for earnings of $4.50 to $5 a share, and adjusted earnings of $5.50 to $6 a share.
Timken also projected revenue to now be up about 5% at the midpoint from last year, compared with a prior forecast of up 3% at the midpoint.
The higher outlook came after first-quarter results were higher than anticipated. Adjusted earnings came in at $1.67 a share, ahead of the $1.50 a share that analysts surveyed by FactSet expected. Sales climbed 8% to $1.23 billion, topping Wall Street models for $1.17 billion.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 06, 2026 11:19 ET (15:19 GMT)
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