Timken sees FY24 adjusted EPS $5.80-$6.20, consensus $6.79

Sees FY24 revenue down 2.5%-4.5%, consensus $4.7B. “We are focused on delivering resilient performance in 2024 through softer industrial markets while continuing to advance our proven strategy,” said Kyle. “Our team is actively managing costs and driving operational excellence initiatives across the enterprise to mitigate a lower organic revenue outlook. We will also benefit from recent acquisitions and are accelerating integration activities to realize synergies.” Kyle continued, “We expect to deliver solid operating margins and a significant step-up in free cash flow in 2024, which coupled with our strong balance sheet will continue to fuel our profitable growth strategy and capital allocation priorities. We remain confident in our ability to navigate macroeconomic volatility, profitably grow through industrial cycles, and deliver strong returns for shareholders.”