NYSE$TWI
Titan International Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported strong profitability with increased EPS and adjusted EBITDA.
Titan International reported strong Q1 2023 results, driven by positive demand and strategic actions. EPS increased by 35%, and adjusted EBITDA rose by 19%. The company also strengthened its balance sheet with increased cash and reduced debt.
- Net income increased by 36% to $33 million.
- EPS increased by 35% to $0.50, and adjusted EPS increased by 20% to $0.53 year-over-year.
- Adjusted EBITDA increased by 19% to $68 million, the highest first quarter performance since 2013.
- Net sales were $549 million; excluding impacts of FX and Australian divestiture, net sales increased 2%.
Headline financials
Revenue & EPS history
Titan · Revenue · Quarterly
$549M
Revenue by segment
Titan · $402M total across 3 segments · Q3 2023
- Agricultural$213M-26.4%53.0%
- Earthmoving/Construction$155M-22.4%38.6%
- Consumer$33.8M-18.7%8.4%
Forward guidance
The company expects financial performance to remain at a high level in 2023, driven by healthy market conditions, particularly in large Ag. They are also focused on navigating inventory adjustments and mitigating their effects through production schedule adjustments.
Tailwinds
- Healthy market conditions globally across the markets they serve, particularly in large Ag.
- High farmer income supported by solid prices for corn and wheat combined with lower input costs.
- High replacement needs for an aging large equipment fleet.
- Earthmoving/construction markets are expected to continue in a positive manner this year, given low equipment inventory levels throughout the global construction industry and solid non-residential activity.
- Mineral commodity prices are at relatively high levels, which also supports growth.
Headwinds
- Near-term impacts stemming from inventory adjustments within customer base.
- Need to mitigate effects by temporarily adjusting production schedules to align with customers’ needs.
- Unfavorable impact of foreign currency translation.
- Effects of the disposed Australian business.
- Complexities in the broader economy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-1.7%
Avg return
Earnings day
-1.3%
Avg return
5 days after
+2.7%
Avg return
30 days after
42%
27 / 65 earnings
Positive
+22.9%
Q2 2016
Best reaction
-34.2%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.7% | -7.4% | — | |
| Q4 2025 | -5.8% | -12.7% | -35.3% | |
| Q3 2025 | -4.1% | -1.6% | +1.6% | |
| Q1 2025 | -13.6% | -6.9% | -1.5% | |
| Q4 2024 | -9.3% | -13.4% | -1.7% | |
| Q3 2024 | -11.4% | -11.3% | +0.7% | |
| Q2 2024 | -0.5% | -9.8% | -2.1% | |
| Q1 2024 | -5.2% | -17.6% | -25.0% | |
| Q4 2023 | -10.9% | -11.0% | -11.9% | |
| Q3 2023 | +3.1% | +10.0% | +18.8% | |
| Q2 2023 | -11.2% | -5.5% | -0.2% | |
| Q1 2023 | -1.1% | +3.8% | +7.6% | |
| Q4 2022 | -17.5% | -11.0% | -30.6% | |
| Q3 2022 | +1.2% | +0.3% | -5.5% | |
| Q2 2022 | -15.5% | -12.0% | -16.3% | |
| Q1 2022 | +16.5% | +12.5% | +29.8% | |
| Q4 2021 | +6.8% | +0.5% | +32.5% | |
| Q3 2021 | +10.3% | +10.2% | -6.8% | |
| Q2 2021 | +11.1% | +6.1% | +8.6% | |
| Q1 2021 | +1.6% | -5.6% | -13.9% | |
| Q4 2020 | -2.1% | -9.1% | +4.6% | |
| Q3 2020 | +15.3% | +73.6% | +105.6% | |
| Q2 2020 | +9.4% | +25.8% | +69.8% | |
| Q1 2020 | +6.3% | +3.6% | +67.6% | |
| Q4 2019 | -12.4% | -28.9% | -33.0% | |
| Q3 2019 | -4.2% | +15.3% | +1.7% | |
| Q2 2019 | -20.6% | -23.3% | -31.2% | |
| Q1 2019 | -16.1% | -18.6% | -38.1% | |
| Q4 2018 | -28.3% | -24.5% | +6.3% | |
| Q3 2018 | -3.5% | -0.9% | -15.7% | |
| Q2 2018 | -30.5% | -27.7% | -26.1% | |
| Q1 2018 | +16.1% | +10.6% | +9.9% | |
| Q4 2017 | +17.2% | +7.6% | +5.5% | |
| Q3 2017 | +14.5% | +15.4% | +22.7% | |
| Q2 2017 | -10.3% | -19.5% | -31.8% | |
| Q1 2017 | +10.8% | +2.8% | +7.9% | |
| Q4 2016 | -11.3% | -15.0% | -26.9% | |
| Q3 2016 | +5.2% | +10.6% | +19.3% | |
| Q2 2016 | +22.9% | +32.9% | +34.5% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +21.0% | — | — | |
| Q3 2015 | -34.2% | — | — | |
| Q2 2015 | +5.2% | — | — | |
| Q1 2015 | +15.7% | — | — | |
| Q4 2014 | +6.2% | — | — | |
| Q3 2014 | +3.8% | — | — | |
| Q2 2014 | -8.5% | — | — | |
| Q1 2014 | -7.5% | — | — | |
| Q4 2013 | -0.8% | — | — | |
| Q3 2013 | +2.0% | — | — | |
| Q2 2013 | -5.6% | — | — | |
| Q1 2013 | +7.6% | — | — | |
| Q4 2012 | -18.0% | — | — | |
| Q3 2012 | +13.0% | — | — | |
| Q2 2012 | -5.2% | — | — | |
| Q1 2011 | +13.4% | — | — | |
| Q1 2012 | +2.7% | — | — | |
| Q1 2010 | -5.8% | — | — | |
| Q4 2009 | -5.8% | — | — | |
| Q4 2011 | -5.8% | — | — | |
| Q3 2010 | -4.0% | — | — | |
| Q3 2011 | -4.0% | — | — | |
| Q2 2011 | -6.0% | — | — | |
| Q2 2010 | -6.0% | — | — | |
| Q4 2010 | -6.0% | — | — |
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