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Sep 30, 2023
Titan Q3 2023 Earnings Report
Delivered solid profitability with EPS of $0.31, adjusted EPS of $0.29 and adjusted EBITDA of $41 million.
Key Takeaways
Titan International reported a decrease in net sales to $401.8 million compared to $530.7 million in the same quarter of the previous year, primarily due to reduced sales volume from customer inventory adjustments and lower demand in some sectors. Despite the sales decrease, the company maintained a solid financial position, generating $37 million in free cash flow and increasing its cash position to $212 million while also repurchasing shares.
Delivered EPS of $0.31 and adjusted EPS of $0.29.
Generated $37 million of free cash flow.
Maintained full year 2023 outlook.
Repurchased just over one million additional shares during the quarter, at an average cost of $12.31.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is maintaining its previously communicated outlook for FY 2023:
Positive Outlook
- Revenues are expected to range between $1.85 to $1.9 billion
- Adjusted EBITDA of $200 to $210 million
- Free cash flow to range between $110 to $120 million
- Capital expenditures to range between $55 to $60 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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