The Timken Company reported a decline in financial performance for the second quarter of 2025, with net sales of $1,173.4 million, a decrease of 0.8% from $1,182.3 million in the same period of 2024. For the first half of 2025, net sales totaled $2,313.7 million, down 2.5% from $2,372.6 million year-over-year. The company's net income for the second quarter was $85.7 million, a decrease of 16.0% compared to $102.0 million in the prior year, while net income attributable to The Timken Company was $78.5 million, down 18.4% from $96.2 million. Diluted earnings per share also fell to $1.12 from $1.36 in the previous year.
The decrease in revenue was attributed to lower end-market demand across both segments, which was partially offset by favorable pricing and the impact of acquisitions. The Engineered Bearings segment reported net sales of $777.4 million, down 0.8% from $783.4 million, while the Industrial Motion segment saw a slight decline to $396.0 million from $398.9 million. The company noted that the unfavorable impact of foreign currency exchange rates also contributed to the decline in sales figures.
In terms of operational developments, Timken has been focusing on strategic initiatives, including the integration of acquisitions and managing costs associated with tariffs. The company recorded impairment and restructuring charges of $2.9 million in the second quarter, down from $3.3 million in the same period last year. The company also announced a leadership transition, with Richard G. Kyle appointed as interim President and CEO following the departure of Tarak B. Mehta.
Looking ahead, Timken anticipates a challenging environment due to ongoing import tariffs and their potential impact on global economic demand. The company expects full-year revenues for 2025 to decline between 2.0% and 0.5% compared to 2024, driven primarily by lower demand across its segments. However, Timken is optimistic about generating higher cash from operating activities in 2025, supported by improved working capital performance and lower cash taxes. The company plans to maintain capital expenditures at approximately 3.5% of sales, focusing on investments that align with its growth strategy.
About TIMKEN CO
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