TITAN INTERNATIONAL Reports 16.0% Decrease in Total Revenue for Q2 FY 2023
August 27, 2023
🌥️Earnings Overview
As of June 30, 2023, the end of TITAN INTERNATIONAL ($NYSE:TWI)’s second quarter of fiscal year 2023, total revenue was reported at USD 481.2 million, a 16.0% decrease compared to the same period in the prior year. Net income for the quarter was USD 30.2 million, a 55.0% year-over-year drop.
Analysis
GoodWhale has performed an analysis of TITAN INTERNATIONAL‘s fundamentals. According to our star chart, the company is strong in asset, growth, profitability and weak in dividend. We have classified TITAN INTERNATIONAL as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given its moderate performance, we believe that investors looking for steady returns without too much risk may find TITAN INTERNATIONAL interesting. Additionally, TITAN INTERNATIONAL has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it is likely able to pay off debt and fund future operations. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Titan International. More…
| Total Revenues | Net Income | Net Margin |
| 2.07k | 147.25 | 7.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Titan International. More…
| Operations | Investing | Financing |
| 200.65 | -54.16 | -64.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Titan International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.31k | 854.19 | 7.13 |
Key Ratios Snapshot
Some of the financial key ratios for Titan International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.5% | 26.3% | 9.5% |
| FCF Margin | ROE | ROA |
| 7.0% | 28.2% | 9.4% |
Peers
The competition among Titan International Inc and its competitors is fierce. Alamo Group Inc, Escorts Ltd, and Adarsh Plant Protect Ltd are all well-established companies with strong products and loyal customers. Each company is constantly innovating and improving its offerings in order to stay ahead of the others. The competition between them is intense, and it is difficult for any one company to maintain a significant lead for long. As a result, the companies are always striving to improve their products and services in order to remain competitive.
– Alamo Group Inc ($NYSE:ALG)
In 2022, Alamo Group Inc had a market cap of 1.72 billion and a ROE of 11.29%. The company is a leading manufacturer and distributor of high quality equipment for infrastructure maintenance, agriculture, and other applications. Alamo Group’s products are known for their durability, reliability, and performance, and the company has a strong reputation in the marketplace.
– Escorts Ltd ($BSE:500495)
Escorts Ltd has a market cap of 258.15B as of 2022, a Return on Equity of 7.86%. The company is engaged in the business of manufacturing, selling and exporting of agricultural machinery, construction equipment, railway equipment and auto components.
The company has a strong presence in the domestic market and is also export oriented. The company has a wide range of products which are technologically advanced and meet the international standards. The company has a team of skilled and experienced professionals who are committed to providing quality products and services to the customers.
– Adarsh Plant Protect Ltd ($BSE:526711)
Adarsh Plant Protect Ltd is an India-based company engaged in the business of manufacturing and marketing of pesticides and other agrochemicals. The company has a market cap of 182.37M as of 2022 and a Return on Equity of 15.7%. Adarsh Plant Protect Ltd manufactures and markets a wide range of pesticides and other agrochemicals that are used for crop protection and other purposes. The company has a strong presence in the Indian market and is one of the leading players in the pesticides and agrochemicals industry.
Summary
TITAN INTERNATIONAL’s second quarter of fiscal year 2023 results had a total revenue of USD 481.2 million, a decrease of 16.0% from the same period a year prior. Net income decreased by 55.0%, amounting to USD 30.2 million. Investing in TITAN INTERNATIONAL may appear as a risky proposition due to the declining revenues and profits.
However, further analysis may be conducted to uncover potential upside such as analyzing the causes for the decreased revenues and income, analyzing the competitive landscape, and evaluating the company’s financial stability. Investors should research TITAN INTERNATIONAL thoroughly before making any investment decisions.
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