Titan International reports record Q3 net sales $531M, EPS $0.68, up from $0.18 YoY

TITAN INTERNATIONAL INC

2022-Q3 EPS reported $2.11 revenue$1,659,614,000

Net sales $531M (+18% YoY); gross margin 16.5% vs 13.4%; reported EPS $0.68 vs $0.18.
Adjusted EBITDA $61M, up from $35M YoY; free cash flow $40M in Q3, $69M YTD.
Debt reduced $35M in quarter; net leverage 1.4x; expects to finish year at top end of targets.
Agricultural sales +18%, Earthmoving/Construction +19%, Consumer +10%.
Recognized $9.5M Brazilian tax credit in Q3 ($32M YTD) within other income.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TITAN INTERNATIONAL INC reported the third quarter ended September 30, 2022 results: revenue $530.7 million, EPS $0.68/share. Guidance reaffirmed.

Period: the third quarter ended September 30, 2022
Revenue: $530.7 million
EPS: $0.68/share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net sales for the third quarter ended September 30, 2022, were $530.7 million

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Source: SEC EDGAR

accession 0000899751-22-000095

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