The 2020 Mid-Year Economic Update_long

Timken’s Sales up 10.3% in 2Q

The increase was primarily driven by the benefit of acquisitions and organic growth in the Process Industries segment.

The Timken Co. (NYSE: TKR), Canton, Ohio, reported second-quarter sales of $1 billion, up 10.3% from the same period a year ago. The company posted net income of $92.5 million compared with net income of $91 million in the year-ago period.

The increase was primarily driven by the benefit of acquisitions and organic growth in the Process Industries segment, partially offset by unfavorable foreign currency translation, the company said.

For the first six months sales increased 10.6% to $1.98 billion. Profit rose 7.7% to $184.4 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com