Beyond the headline.
Inside the numbers.
Ticker Byline
Timken supplies engineered bearings and industrial-motion products used in machinery, transport and other equipment. Its two segments have different mixes of customers and aftermarket demand.
| Measure | 2026 | 2025 |
|---|---|---|
| Revenue | $1,211.4 | $1,157.1 |
| Net income attributable to Timken | $93.8 | $69.3 |
| Adjusted net income | $115.1 | $96.2 |
| Adjusted EBITDA | $224.6 | $201.7 |
| Operating cash flow | $256.1 | $201.1 |
| Free cash flow | $221.4 | $163.8 |
Free cash flow is operating cash flow less capital spending. Timken retained a $12.4 million net tariff-refund benefit in third-quarter adjusted earnings. The August results had already identified an $8 million second-quarter benefit.
The annual adjusted earnings forecast is $6.35 to $6.50 per share, up from $6.05 to $6.35. Timken's rounded comparison attributes about 13 cents of the midpoint increase to the third-quarter refund, 8 cents to lower interest expense and 2 cents to net organic operating changes. Reported earnings are forecast at $4.05 to $4.20 per share.
The company held its annual free cash flow forecast at $375 million to $400 million and its organic sales growth forecast at 3.5%. The implied fourth-quarter earnings forecast excludes any further net effect from the tariffs covered by the refund.
At September 30, cash and cash equivalents were $410.2 million. Short-term debt and current maturities were $189.5 million, and noncurrent debt was $1.745 billion. Net debt was $1.525 billion.
Timken had about $1.13 billion available under committed credit lines. That includes roughly $1.03 billion on its $1.2 billion revolving credit facility and $102.1 million on its receivables facility. These are borrowing resources, separate from cash on hand.
The revolving facility was renewed in July through July 2031. Timken used it to repay the remaining $85 million on a term loan. In September, the receivables facility's capacity increased to $125 million from $100 million.
Timken completed the acquisition of automated lubrication systems business Bijur Delimon on March 18. The latest purchase price was $123.1 million, net of $6.7 million of acquired cash. The business is part of Industrial Motion.
The belts business sale closed on September 28 and brought in $26.3 million. The Springfield, Missouri, plant was excluded from the sale and remains subject to a separate closure. Timken had recorded $90.4 million of combined pretax costs for the belts exit and plant closure through September, including noncash impairments.
Read our analysis: How much of Timken’s profit increase came from tariff relief?
Timken raised its annual earnings forecast, but refunds and lower interest expense supply most of the increase. Our calculation separates the quarterly refund benefit from the wider result.