Titan Int'l (NYSE: TWI) reported Q1 EPS of $0.01, $0.05 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $402.1 million versus the consensus estimate of $465.9 million.

CEO and Chairman, Maurice Taylor comments, "The first quarter demonstrates that the initiatives undertaken by Titan last year were the appropriate actions and should pay dividends as we go forward. North America large agriculture is down approximately 35 percent, and we believe it will remain that way for the balance of 2015. We also believe our market share will continue to grow as Titan's recently introduced products gain further momentum. Titan's first quarter sales were below our internal plan, but well over half of the decrease was due to currency impacts from Europe, South America, Russia and Australia. With EBITDA at $27.6 million this quarter, we exceeded our internal plan expectation. We were able to maintain a cash balance of $190.6 million despite a seasonal increase in working capital accounts of $26.1 million.

"Titan's Grizz Squad has been expanded and the interest in LSW® tires and wheels is growing each month. In addition to North America, Titan will soon be expanding the Grizz Squad within South America, Europe and Russia. Looking at the next few quarters, the smaller ag market should remain steady along with the shortliners.

"We expect growth in our ATV and special markets with the run flat tires produced under the Goodyear® brand. We believe that construction market will also remain steady, and we expect to grow sales within our LSW tires and wheels. The mining business has stabilized and our underground tire and wheel business is starting to expand. We expect our track and brake business produced by ITM will grow throughout 2015. ITM has made a strong effort to grow aftermarket replacement business within track components.

"Titan has reduced its fixed cost structure and improved productivity at our manufacturing facilities to mitigate the negative impact of existing and future market downturns. We will proactively monitor for changes in our business and adapt appropriately. The management team is focused on enhancing business performance and building our brand through meeting our customers' needs. Titan's LSW technology enhances both the productivity and performance of every tractor, combine, sprayer, loader and articulated dump truck. We have consistently experienced, upon demonstrating the superior attributes of the LSW solution, that our customers will pull it through the market. As we grow the market with the Goodyear Farm Tires coupled with LSW technology, both our market share and margins will improve. We fully anticipate this same result as the Titan LSW solution penetrates the construction and mining markets. I encourage those that are not familiar with LSW to visit our LSW website (LSWAdvantage.com) for videos and testimonials from actual users."

For earnings history and earnings-related data on Titan Int'l (TWI) click here.