Timken Now Expects FY24 Revenue To Be Down 3% - 4% In Total (Prior View Down 2% - 4%); Revises Adjusted EPS Forecast From $6.00 - $6.30 To $6.00 - $6.20, Est $6.21
Portfolio Pulse from Benzinga Newsdesk
Timken has revised its FY24 revenue forecast to be down 3% - 4%, compared to the previous estimate of down 2% - 4%. The company also adjusted its EPS forecast to $6.00 - $6.20, down from the prior range of $6.00 - $6.30.
July 31, 2024 | 10:56 am
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Timken has revised its FY24 revenue forecast to be down 3% - 4%, compared to the previous estimate of down 2% - 4%. The company also adjusted its EPS forecast to $6.00 - $6.20, down from the prior range of $6.00 - $6.30.
The downward revision in revenue forecast and the slight reduction in the EPS forecast range indicate potential challenges in Timken's financial performance. This is likely to have a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100