earnings
confidence high
sentiment positive
materiality 0.80
Titan Q1 net sales $556M (+38% YoY); raises FY guidance to >$2.1B sales, ~$200M EBITDA
TITAN INTERNATIONAL INC
2022-Q1 EPS reported
$0.37
revenue$555,997,000
- Net sales $556.0M (highest since Q2 2013), up 37.8% YoY; gross margin 15.6% vs 13.2%.
- Adjusted EBITDA $56.8M, doubled from $26.3M; operating income $44.7M vs $14.2M.
- Raises FY2022 guidance: net sales above $2.1B, adjusted EBITDA ~$200M, FCF $55-65M.
- All segments grew: Ag +48%, E/C +22%, Consumer +51% sales; margins expanded.
- Sold Australian wheel business for ~$17.5M, recorded $10.9M loss on sale.