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Dec 31, 2019
Titan Q4 2019 Earnings Report
Titan International reported a decrease in net sales and a net loss applicable to common shareholders for Q4 2019.
Key Takeaways
Titan International's Q4 2019 results showed a decrease in net sales to $301.8 million compared to $363.4 million in Q4 2018. The company reported a net loss applicable to common shareholders of $24.8 million, or $(0.41) per share, compared to a net loss of $13.4 million, or $(0.22) per share, in the same period last year. The adjusted EBITDA was $(2.9) million in Q4 2019 compared to $14.8 million in Q4 2018.
Net sales decreased by $61.6 million YOY to $301.8 million, or $308.2 million on a constant currency basis.
Loss from operations was $17.5 million.
Net loss applicable to common shareholders was $24.8 million, with EPS of $(0.41) and adjusted EPS of $(0.40).
Adjusted EBITDA was $(2.9) million.
Revenue by Segment
Forward Guidance
Titan is targeting full-year EBITDA of $75 million excluding currency impacts, on relatively flat sales of approximately $1.45 billion.
Positive Outlook
- North American farmer sentiment has improved.
- Operational cost structure actions are designed to drive improvements of $10 - $12 million.
- Strategic pricing that recognizes the value of our products is being introduced.
- North American Wheel operations are expected to perform significantly better.
- North American Ag OE customers should return to normalcy in terms of their production at retail levels.
Challenges Ahead
- Markets are volatile.
- Markets are uncertain.
- There were poor Ag conditions due to North America weather.
- There were China trade battles.
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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