Titan International, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 03, 2023 at 05:11 pm EDT
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Titan International, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 548.64 million compared to USD 556 million a year ago. Net income was USD 31.84 million compared to USD 23.92 million a year ago.
Basic earnings per share from continuing operations was USD 0.51 compared to USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to USD 0.37 a year ago.
Titan International, Inc. is a global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The Company's segments include agricultural, earthmoving/construction and consumer. Its agricultural wheels, tires, and components are manufactured for use on various agricultural equipment. The earthmoving/construction segment manufactures wheels, tires, and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military, construction, and forestry equipment, including skid steers and aerial lifts. The consumer segment manufactures bias truck tires in Latin America and light truck tires in Russia. The Company also offers select products for ATVs, side-by-sides, rock climbers, turf, and lawn and garden. This segment also includes custom rubber stock mixing sales to a variety of OEMs in tangential industries. It manufactures and sells certain tires under the Goodyear Farm Tire, Titan Tire and Voltyre-Prom Tire brands.
TITAN INTERNATIONAL, INC. 
