Titan International, Inc. Reports Third Quarter 2020 Results
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Titan International (TWI) Tops Q3 EPS by 2c, Revenues Beat
November 5, 2020 6:26 AM ESTTitan International (NYSE: TWI) reported Q3 EPS of ($0.10), $0.02 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $304.8 million versus the consensus estimate of $294.77 million.
Quarter Highlights
Ending cash and cash equivalents balance was $98.8 million, an increase of $18.6 million during the quarterNet debt was reduced by $85 million over the past 12 months to the lowest level since Q3 2018Net sales were $304.8 million, a $41.1 million YOY decrease, net sales would have been $324.9 million on a constant currency basisGross margin was 10.3%, up from 7.8% in Q3 of the prior... More