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Sep 30, 2021
Titan Q3 2021 Earnings Report
Reported strongest third quarter results since 2013 with net sales up 48 percent year-over-year.
Key Takeaways
Titan International reported a strong third quarter with net sales of $450.4 million, a 47.8% year-over-year increase, and net income attributable to Titan of $11.2 million, or $0.18 EPS. Adjusted EBITDA was $35.1 million, up from $14.2 million in Q3 of the prior year. The company anticipates full-year adjusted EBITDA to be over $130 million.
Net sales were $450.4 million, a $145.6 million (47.8%) YoY increase, the highest quarterly sales since Q2 2014.
Gross margin was 13.4%, up from 10.3% in Q3 of the prior year.
Income from operations was $22.9 million, a $29.7 million YoY improvement.
Adjusted EBITDA was $35.1 million as compared to $14.2 million in Q3 of the prior year, a $21 million YoY improvement
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company believes full year adjusted EBITDA to be over $130 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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