Titan International Down 14.02% To $14.59 After Earnings Beat

Titan International Inc (TWI) beat out earnings estimates for Q2 2022 this afternoon.

Titan International's earnings came in at an EPS of $0.79 per share, 20.00% higher than estimates for an EPS of $0.66 per share. The firm's earnings are up 259% since reporting $0.22 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $572.9 million. That is an increase of 30.61% in revenues from the year-ago report and is 1.58% lower than consensus estimates set at $582.1 million.

The stock is down 14.02% to $14.59 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Titan International a Bullish Sentiment Rank from InvestorsObserver.

Titan International has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 98, putting Titan International in the top 25% of stocks. The firm was recently trading at a 52-week high of $19.81 on June 15, 2022 and set a 52-week low on December 1, 2021 at $6.69.

Titan International Inc is a manufacturer of wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles. The company operates through three segments namely Agricultural, Earthmoving/Construction, and Consumer. Geographically, business of the group can be seen in the United States, Brazil and other countries. Titan derives most of the revenue from Agricultural segment in which rims, wheels, tires and undercarriage systems and components are manufactured for use on various agricultural equipment, including tractors, combines, plows, planters and irrigation equipment, and are sold directly to original equipment manufacturers and to the aftermarket through independent distributors, equipment dealers and Titan's own distribution centers.