Titan International Q2 Revenue Beats, Consumer Segment Surges 27%
TWI sits 28% above its 52-week low of $6.43.
Summary
Titan International posted Q2 revenue of $484M, edging past the $480M consensus, driven by a 27% jump in its consumer segment. Adjusted EBITDA rose 13% to $34M and gross margin expanded to 15.5%, while free cash flow hit $26M on working capital improvements. The agricultural segment remains a drag, down 5% on weak farm incomes and high financing costs. Management issued Q3 guidance of $440M-$460M in sales and $27M-$33M in adjusted EBITDA, and reaffirmed the full-year outlook of $1.85B-$1.95B. The results follow last night's 10-Q filing, adding segment-level color and forward estimates that give traders a clearer picture of the consumer-driven offset to ag weakness.
At the time of this announcement, TWI was trading at $8.24 on NYSE in the Manufacturing sector, with a market capitalization of approximately $492.4M. The 52-week trading range was $6.43 to $11.70. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.