Titan International Q1 EPS $0.50 (adj. $0.53) up 35% YoY; net income $33M

TITAN INTERNATIONAL INC

2023-Q1 EPS reported $0.50 revenue$548,644,000

Net sales $548.6M, down 1.3% YoY; excluding FX and Australian divestiture, up 2%.
Gross margin 17.4%, up 180 bps; Adjusted EBITDA $68M, up 19% YoY.
Agricultural segment operating income $32.6M, up 8.1% YoY on cost reductions.
Earthmoving/construction operating income $23.5M, up 48.6% YoY on efficiencies.
Generated $12M free cash flow; net debt/EBITDA leverage 1.0x; repurchased $3.3M shares.

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 first quarter ended March 31, 2023 results: revenue $548.6 million, net income $33 million, EPS $0.50.

Period: first quarter ended March 31, 2023
Revenue: $548.6 million
Net income: $33 million
EPS: $0.50
Result: reported results

Exact text from the filing

Net sales for the first quarter ended March 31, 2023, were $548.6 million, compared to $556.0 million in the comparable quarter of 2022, a decrease of 1.3%.

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Source: SEC EDGAR

accession 0000899751-23-000038

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