The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Titan International missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share contracted.
Gross margins expanded, operating margins contracted, net margins shrank.
Titan International reported revenue of $404.7 million. The five analysts polled by S&P Capital IQ looked for revenue of $447.0 million on the same basis. GAAP reported sales were 1.5% higher than the prior-year quarter's $398.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.49. The five earnings estimates compiled by S&P Capital IQ anticipated $0.43 per share. GAAP EPS of $0.39 for Q3 were 7.1% lower than the prior-year quarter's $0.42 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.7%, 300 basis points better than the prior-year quarter. Operating margin was 8.9%, 150 basis points worse than the prior-year quarter. Net margin was 4.8%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $462.6 million. On the bottom line, the average EPS estimate is $0.51.
Next year's average estimate for revenue is $1.83 billion. The average EPS estimate is $2.26.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 202 members out of 223 rating the stock outperform, and 21 members rating it underperform. Among 52 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 48 give Titan International a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Titan International is buy, with an average price target of $29.23.
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