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: Shares of equipment retailer Titan International (NYSE:TWI) fell 16% today after the company reported earnings.

So what: Revenue jumped 23% to $493.6 million but the company said it lost $3.5 million, or $0.07 per share, in the quarter on one-time costs related to buying Titan Europe PLC. After adjustments, the company made a profit of $0.09 per share, which fell well short of the $0.47 per share analysts estimated.  

Now what: Everything was disappointing this quarter as demand fell well short of expectations. Let's keep in mind that the company did grow and the stock still trades at just eight times forward earnings estimates. I wouldn't be a panic seller here but I'd like to see improvement from both the mining and farming sectors, which will drive demand going forward, before I buy in.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.