New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 3, 2012
10:50 EDTTWITitan International sees overall market percentage up in 2013
Titan International Chairman & CEO Maurice Taylor stated, in reference to 2013, "Farm will be good in North America and our capacity expansion should increase Titanís overall market percentage. South Americaís farm sales should grow more than 10% and again, with our capacity expanding, we should increase our market share. We believe Europe will be down and that is the one negative spot worldwide. Russia should be a big growth area over the next five years and is a great opportunity. The construction market will likely continue to be in a sorry state except in Russia and Brazil, which should turn advantageous for Titan. The earthmoving business still has life and is going to be good for Titan as long as we take care of production. The other large event will be the growth of the Titan Mining Service business with new locations in Chile, Peru, South Africa, Australia and Eastern Canada. We are very excited about building this business. Titan will also announce some new acquisitions either before the end of the year or shortly after." The company said its targets for 2013 include revenue $2.4B-$2.7B, EBITDA $340M-$400M, Cap Ex $72M and R&D $11M.
News For TWI From The Last 14 Days
Check below for free stories on TWI the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 24, 2014
08:16 EDTTWITitan International: Oil sands have positive impact in mining sector
The company adds, ""The farm outlook today is weak from many viewpoints, however, we believe this is a short term pause in the cycle. The large equipment purchases in the farming sector have declined double digits and tire prices have fallen due to lower raw material costs that we are required to pass on contractually to OEMs which negatively impacts our financial performance. Inventory at dealerships remains high but is trending lower each month. ITM which is Titan's track business has been challenged due to recessed construction and mining markets. ITM's steel foundry in Spain has just entered into an agreement in principle to provide railroad cast steel brakes. These engineered cast steel products means an expansion to the Spain facilities. Titan Russia experienced weaker sales levels than anticipated due to the overall economic factors. In the second half of 2014, we will spend more time on our international facilities. The quality of our tires in Russia is improving and chemical inputs have been modified to reach European acceptance. As we build more effective relationships with the Russian team and customers, we expect to realize the untapped potential in this facility."
08:16 EDTTWITitan International: Q2 results reflect slow demand
Subscribe for More Information
08:16 EDTTWITitan International reports Q2 adjusted EPS 3c, consensus 13c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use