The 2020 Mid-Year Economic Update_long

Timken Sales Down 8% in 2Q

Year-to-date sales down 5 percent year-over-year.

The Timken Company (NYSE: TKR), North Canton, OH, reported sales for the second quarter of $728 million, down 8 percent year-over-year. Profit decreased 41.5 percent to $36.7 million.

Mobile industries sales in the second quarter decreased 13 percent year-over-year and process industries sales decreased 1 percent.

Year-to-date sales were $1.5 billion, down 5 percent year-over-year. The company reported a loss of $98.5 million for the period, compared to a profit of $146.2 million the prior year.

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