Timken raises FY23 adjusted EPS view to $7.00-$7.50 from $6.50-$7.10

Consensus $7.02. Raises FY23 revenue view to up 9.5% from up 6%, consensus $4.85B. "Timken is raising its full-year guidance to reflect the company’s strong first-quarter performance, the impact of the Nadella acquisition and an improved outlook for the rest of the year," said Kyle. "We now expect operating margins to increase in 2023, reflecting favorable price-cost and better operational execution. While uncertainty remains elevated for the second half, our backlog is high and customer demand is strong."