Agricultural and farm machinery company Titan (NSYE:TWI) will be reporting earnings this Thursday morning. Here’s what you need to know.
Titan International beat analysts’ revenue expectations by 5.7% last quarter, reporting revenues of $490.7 million, up 1.8% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.
Is Titan International a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Titan International’s revenue to decline 10.2% year on year to $478 million, a reversal from the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Titan International’s peers in the heavy machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Lindsay delivered year-on-year revenue growth of 21.7%, beating analysts’ expectations by 4.6%, and Greenbrier reported revenues up 2.7%, topping estimates by 7.3%. Lindsay traded up 3.9% following the results while Greenbrier was also up 21.1%.
Read our full analysis of Lindsay’s results here and Greenbrier’s results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 5.5% on average over the last month. Titan International is down 11.5% during the same time and is heading into earnings with an average analyst price target of $12 (compared to the current share price of $9.09).
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