Titan International reports record FY2022 revenue of $2.17B, net income $179M

TITAN INTERNATIONAL INC

2022-FY EPS reported $2.77 revenue$2,169,380,000

FY2022 revenue $2.17B (+22% YoY); net income $179M; adjusted EBITDA $253M.
Q4 revenue $509.8M (+4.5% YoY); gross margin 15.0% (up 220 bps YoY).
Free cash flow $44M in Q4, $114M full year; net debt/adj. EBITDA 1.1x.
Agricultural segment Q4 sales $274.8M (+3.8%); EMC segment sales $195.8M (+6.8%).
Cash position $160M, up $62M YoY; management expects upbeat 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TITAN INTERNATIONAL INC reported fiscal year 2022 results: revenue $2.17 billion, net income $179 million.

Period: fiscal year 2022
Revenue: $2.17 billion
Net income: $179 million
Result: reported results

Exact text from the filing

Closed 2022 strong and delivered FY2022 revenue increase of 22% to $2.17 billion

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TITAN INTERNATIONAL INC reported the fourth quarter ended December 31, 2022 results: revenue $509.8 million.

Period: the fourth quarter ended December 31, 2022
Revenue: $509.8 million
Result: reported results

Exact text from the filing

Net sales for the fourth quarter ended December 31, 2022, were $509.8 million, compared to $487.7 million in the comparable quarter of 2021, an increase of 4.5 percent driven by sales increases across the Agriculture and Earthmoving / Construction (EMC) segments.

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Source: SEC EDGAR

accession 0000899751-23-000011

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