NYSE$TWI
Titan International Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Announced strong Q4 2020 results with increased net sales and improved financial position.
Titan International reported a strong finish to 2020, with net sales for the quarter increasing to $326.9 million. The company saw improvements in adjusted EBITDA, gross margin, and cash position, while also reducing net debt. Positive trends from late 2020 continued into early 2021, driven by strong agricultural demand and improved pricing environment.
- Net sales for the quarter increased by $25.1 million year-over-year to $326.9 million.
- Adjusted EBITDA for the quarter was $17.3 million, the highest since Q1 2019.
- Cash and cash equivalents balance increased to $117.4 million, up by $18.7 million during the quarter.
- Net debt reduced by $18 million during the quarter to $347 million.
Headline financials
Revenue & EPS history
Titan · Revenue · Quarterly
$327M
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
Titan expects noticeable EBITDA improvement in 2021, with capital expenditures ranging from $35 million to $40 million. The company anticipates ending the full year cash flow positive, with improved payment terms offsetting working capital impacts from sales growth.
Tailwinds
- Favorable trend in South America to continue.
- North America demand accelerating through 2021 due to strong farmer income and commodity prices.
- Low levels of inventory in many channels.
- Improved pricing environment to offset rising raw material costs.
- Increased prices to offset higher production costs.
Headwinds
- High degree of volatility for customer base due to surge in agricultural demand.
- Restrictions and challenges in the marketplace.
- Rising raw material costs.
- Higher production costs.
- Difficult to provide a reasonable full-year 2021 forecast for sales and EBITDA.
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 Q4 2020
-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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro