The Timken Company, founded in 1899 and headquartered in North Canton, Ohio, stands as one of the world's most established industrial manufacturers with over 125 years of specialized expertise. The company operates as a global industrial leader with a growing portfolio of engineered bearings and industrial motion brands, serving customers across diverse industries with innovative solutions that enhance reliability and efficiency.
Timken is a global technology leader in engineered bearings and industrial motion, with an expanding portfolio of next-generation solutions that help customers around the world improve efficiency, solve their toughest challenges, and push the boundaries of performance. The company has strategically positioned itself as a comprehensive solution provider, moving beyond traditional bearings to offer integrated industrial motion systems.
The company operates in two segments: Engineered Bearings and Industrial Motion.
* The Engineered Bearings segment represents the company's core heritage, featuring precision-engineered products that serve original equipment manufacturers and end-users across various industries.
* The Industrial Motion segment offers a portfolio of engineered products, such as industrial drives, automatic lubrication systems, linear motion products and systems, chains, belts, couplings, filtration systems, seals, and industrial clutches and brakes. It also provides industrial drivetrain and bearing repairing services. This segment serves a range of industries comprising solar energy, automation, construction, agriculture and turf, passenger rail, marine, aerospace, packaging and logistics, medical, and others under various brands including Philadelphia Gear, Cone Drive, Rollon, Nadella, Groeneveld, BEKA, Diamond, Drives, Timken Belts, Spinea, Des-Case, Lagersmit, Lovejoy, CGI, and PT Tech.
Timken posted $4.6 billion in sales in 2024 and employs approximately 19,000 people globally, operating from 45 countries. The current market capitalization of The Timken is $5.37 Billion with 70 Million shares as of July 2, 2025. The company has demonstrated resilience in challenging market conditions while maintaining strong operational performance.
For the full year 2024, net income was $352.7 million or $4.99 per diluted share, compared with net income of $394.1 million or $5.47 per diluted share in 2023. The company's net income margin for the year was 7.7 percent, compared to 8.3 percent in 2023. Excluding special items, adjusted net income was $409.4 million or $5.79 per diluted share in 2024, compared with adjusted net income of $508.1 million or adjusted earnings of $7.05 per diluted share in 2023.
The company's most recent quarterly performance shows continued adaptation to market conditions. First-quarter 2025 sales were $1.14 billion, down 4.2 percent from the same period a year ago, driven by lower end-market demand in both segments, and unfavorable foreign currency translation, partially offset by the benefit of acquisitions.
Timken has reduced its full-year 2025 outlook, with earnings per diluted share now forecasted to be in the range of $3.90 to $4.40 and adjusted earnings per diluted share in the range of $5.10 to $5.60. The updated outlook reflects an estimated net impact from tariffs and an expectation for slightly lower demand over the rest of the year. The company is planning for 2025 revenue in the range of -2.5% to 0% in total compared to 2024.
Despite near-term challenges, the company maintains a strong strategic foundation. Timken is reaffirming its full-year cost reduction target, with actions expected to generate gross savings of approximately $75 million in 2025. The company's management remains focused on operational excellence and maintaining competitive positioning through challenging economic conditions.
At Timken, innovation is driven by the needs of customers. By combining cutting-edge engineering with operational excellence, the company collaborates to solve complex challenges and advance industries worldwide. The company's research and development efforts are driven by real-world challenges and emerging opportunities, combining expertise in materials science, friction management, and power transmission to engineer solutions that enhance reliability, efficiency, and precision.
The company's commitment to innovation extends beyond product development to include sustainable practices and corporate responsibility. Timken's CSR vision is to improve lives, benefit the planet, and strengthen business through sustainable engineering, renewable energy investments, and STEM education initiatives.
With a global reach and deep local expertise, Timken delivers the technology and expertise customers need — where and when it matters most. The company's international footprint spans 45 countries, enabling it to serve customers across diverse markets and geographic regions effectively.
Timken's growing portfolio of products and services help power industries from renewable energy to food production, demonstrating the company's versatility and broad market appeal. This diversification strategy helps mitigate sector-specific risks while positioning the company to capitalize on emerging growth opportunities across multiple industries.
The company's established brand recognition, extensive distribution network, and long-standing customer relationships provide competitive advantages that support its market-leading position in engineered bearings and industrial motion solutions.
