Timken Reports 10.9% Sales Increase in 1Q

Higher volume, favorable price/mix and improved manufacturing performance drive the growth.

The Timken Co. (NYSE: TKR), Canton, Ohio, reported first-quarter sales of $979.7 million, up 10.9% compared the first quarter of 2018. Profit was $91.9 million, compared to $80.2 million in same period a year ago.

The year-over-year increase was driven by higher volume, favorable price/mix, improved manufacturing performance, lower selling, general and administrative costs and the benefit of acquisitions, partially offset by higher material costs, the company said.

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