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June 19, 2014
12:28 EDTTMST, TKRTimkenSteel sees 2014 revenue up 20%-25% from 2013
TimkenSteel (TMST) is hosting an investor meeting in advance of its planned spinoff from Timken (TKR). TimkenSteel projects revenue to increase by 20%-25% for 2014 over Timken's Steel segment 2013 revenue. The company is targeting a dividend payout ratio of 20%-30%, and expects an initial quarterly dividend of 13c-15c per share. On June 30, one share of TimkenSteel common stock will be distributed for every two shares of Timken common stock held by Timken shareholders of record as of June 23.
News For TMST;TKR From The Last 14 Days
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July 31, 2014
07:41 EDTTMSTTimkenSteel sees FY14 sales growth of 20%-25%, one estimate $1.64B
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07:39 EDTTMSTTimkenSteel reports ship tons up 21.4% to 289,000
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07:39 EDTTMSTTimkenSteel reports Q2 adjusted EPS 55c, one estimate 65c
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07:30 EDTTKRTimken sees FY14 adjusted EPS $2.40-$2.60, consensus $2.54
Timken backs FY14 revenue growth 3%, consensus $3.11B; Mobile Industries' sales are expected to be down 2 to 4 percent, anticipating that revenue reductions of approximately $110 million in the light vehicle sector will be partially offset by organic growth in the rail sector. Process Industries' sales are estimated to be up 10 to 12 percent as a result of improved penetration in targeted original equipment sectors, stable to modestly improving end markets, and acquisitions. Although the company anticipates increased shipments in the defense rotorcraft market sector, lower demand across the civil markets sectors and other defense platforms are expected to keep Aerospace sales relatively flat. The company expects to generate cash from operations of approximately $370 million in 2014. Free cash flow is projected to be $250 million after making capital expenditures of $120 million.
07:29 EDTTKRTimken reports Q2 adjusted EPS cont ops 65c, consensus 67c
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