Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Titan International
So what: Earnings per share of $0.11 crushed analyst estimates of $0.03 and revenue of $222.8 million topped estimates of $172.5 million. This follows a solid second quarter that sent shares up 23%, and management pointed to a good 2011.
Now what: Titan International, which manufactures wheels and tires, is on a roll since reporting losses through the fourth quarter of 2009. On Oct. 1, the company bought back $138.9 million of debt, showing management's confidence in future operations. I'm not buying today, given a higher valuation than competitor Carlisle Companies
Interested in more info on Titan International? Add it to your watchlist by clicking here.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his Motley Fool CAPS picks at TMFFlushDraw.
Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Fool has a disclosure policy.
More from The Motley Fool
After Big Quarter, Titan International Sees More Growth Ahead
Top-line growth of 21% could be just the beginning for the wheel and tire manufacturer.
Why Titan International Inc's Shares Plunged 33% in August
A surprising loss left investors wondering when an operational turnaround will finally arrive.
Titan International Inc's Recovery Hits a Snag
Demand for big tires is up, but so are costs, and that's hurting the supplier in 2017.