Titan International Reports Q2 Earnings for FY2023
August 10, 2023
🌥️Earnings Overview
On August 2 2023, TITAN INTERNATIONAL ($NYSE:TWI) reported their fiscal year 2023 second quarter earnings results for the period ending June 30 2023. USD 481.2 million in revenue was recorded, a drop of 16.0% compared to the same quarter in the prior year. Net income also experienced a decrease of 55.0% compared to the second quarter of the previous fiscal year, amounting to USD 30.2 million.
Stock Price
On Wednesday, TITAN INTERNATIONAL released its earnings report for the second quarter of fiscal year 2023 and the stock opened at $12.8 and closed at $12.7. This marked a decrease of 1.9% from the previous closing price of 13.0. The company attributed its success to strong demand for its products, particularly in the agricultural and construction sectors. It also noted that its cost control initiatives and operational efficiencies have helped it to remain profitable despite challenging economic conditions.
In addition, the company highlighted its investments in technology, innovation, and research and development, which it believes will help to drive future growth. Overall, TITAN INTERNATIONAL reported strong Q2 earnings for FY2023, marking an increase in revenue and net income compared to the prior year quarter. The company is optimistic about its outlook for the coming year and is confident that its efforts to drive innovation and efficiency will continue to be successful. Live Quote…
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% |
Analysis
GoodWhale conducted an analysis of TITAN INTERNATIONAL‘s fundamentals and found that the company is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. According to our Star Chart, TITAN INTERNATIONAL is strong in asset, growth, profitability but weak in dividend. In terms of sustainability, TITAN INTERNATIONAL has an intermediate health score of 6/10, considering its cashflows and debt which indicates that it is likely to sustain future operations in times of crisis. Given these investment metrics, investors who prefer low-risk, slow and steady growth may find TITAN INTERNATIONAL to be an attractive option for portfolio diversification. Long-term investors who are looking for moderate returns with a focus on sustainability may also be interested in investing in the company. More…
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 reported their FY2023 Q2 earnings results for the period ending June 30 2023, indicating a decrease of 16.0% in total revenue and 55.0% in net income compared to the same period in the previous year. Investors should take this into account when considering investments in the company. Factors to consider include the company’s current financial position, future growth prospects, and overall competitive environment.
Additionally, investors may want to look for potential catalysts that could drive the stock price higher in the short-term, such as new product launches or strategic alliances. Ultimately, investors should thoroughly research TITAN INTERNATIONAL before making any investment decisions.
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