Strong Performance in Asia
Sales in Asia were up 10%, led by growth in China with significant improvement in renewable energy demand, which contributed positively to overall results.
Successful Cost Management
The company reaffirmed its commitment to deliver $75 million of cost savings in 2025, which is expected to offset inflation in labor and other input costs.
Improved Free Cash Flow
Timken generated higher free cash flow compared to the prior year, indicating strong cash management despite lower earnings.
Commitment to Shareholder Value
The company returned $48 million to shareholders through dividends and share repurchases, demonstrating a focus on shareholder value.