Titan International (TWI) Tops Q3 EPS by 3c, Revenues Miss

Titan International (NYSE: TWI) reported Q3 EPS of $0.04, $0.03 better than the analyst estimate of $0.01. Revenue for the quarter came in at $384.7 million versus the consensus estimate of $398.71 million.

"Titan's overall global performance continues to trend positively as we head into 2019," stated Paul Reitz, President and Chief Executive Officer. "During our most recent quarter we reported year-over-year sales gains for the seventh consecutive quarter. These gains were nearly ten percent, excluding unfavorable currency translation headwinds. Both gross profit and gross margin improved nicely despite increasing raw material costs. We continued our 2018 momentum delivering improved adjusted earnings per share of $0.04, representing a $0.13 improvement when compared to the same period a year ago. This is also the first time since 2013 that we have reported a profitable adjusted earnings per share in the third quarter."

For earnings history and earnings-related data on Titan International (TWI) click here.

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