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Mar 31, 2022
Titan Q1 2022 Earnings Report
Reported strong first quarter driven by increased demand and improved market conditions.
Key Takeaways
Titan International reported a strong first quarter with net sales of $556.0 million, a 37.8% year-over-year increase, and adjusted EBITDA of $56.8 million. The company anticipates full-year net sales above $2.1 billion and adjusted EBITDA around $200 million.
Net sales increased by 37.8% year-over-year, reaching $556.0 million.
Gross margin was 15.6%.
Adjusted EBITDA was $56.8 million, compared to $26.3 million in the prior year.
Full year net sales are anticipated to be above $2.1 billion with adjusted EBITDA around $200 million.
Forward Guidance
Titan International anticipates full year net sales above $2.1 billion, with adjusted EBITDA to be around $200 million and free cash flow between $55 million and $65 million.
Positive Outlook
- Strong first quarter performance
- Similar expectation for Q2
- More normalized demand and production levels in the second half
- Increased profitability
- Strength in the business
Challenges Ahead
- Reflects more normalized demand and production levels in the second half
- In line with typical seasonality trends for the business
Historical Earnings Impact
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Avg. Return Before/After Earnings
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