Titan International, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:27 pm EDT
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Titan International, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 401.78 million compared to USD 530.72 million a year ago. Net income was USD 19.28 million compared to USD 43.17 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.69 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.68 a year ago.
For the nine months, sales was USD 1,431.6 million compared to USD 1,659.61 million a year ago. Net income was USD 81.33 million compared to USD 134.26 million a year ago. Basic earnings per share from continuing operations was USD 1.29 compared to USD 2.13 a year ago. Diluted earnings per share from continuing operations was USD 1.29 compared to USD 2.11 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. 
