Timken Co. provided earnings guidance for 2013. The company expects to deliver solid operating results in 2013 as it continues to take actions to reduce costs and drive efficiencies in response to the environment.

The company expects sales to be down around 5% compared to 2012, driven primarily by continued lower demand. Operating performance is expected to remain strong, with all four segments maintaining double-digit operating margins. The company projects 2013 annual earnings per diluted share to range from $3.75 to $4.05, which includes restructuring costs for previously announced plant closures totaling approximately $0.20.

The company expects to generate cash from operations of approximately $330 million in 2013. Free cash flow is projected to be a use of $120 million after making capital expenditures of about $360 million and paying about $90 million in dividends. Excluding discretionary pension and VEBA trust contributions of approximately $180 million, net of tax, the company forecasts free cash flow of approximately $60 million in 2013.