Agricultural and farm machinery company Titan (NYSE: TWI) will be reporting earnings this Thursday before the bell. Here’s what investors should know.
Titan International beat analysts’ revenue expectations last quarter, reporting revenues of $410.4 million, up 7% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Titan International a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Titan International’s revenue to grow 1.3% year on year, in line with the 1.8% increase it recorded in the same quarter last year.
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. Titan International has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Titan International’s peers in the heavy machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lindsay’s revenues decreased 15.7% year on year, missing analysts’ expectations by 4.2%, and PACCAR reported a revenue decline of 8.9%, falling short of estimates by 0.9%. Lindsay traded down 12.1% following the results.
Read our full analysis of Lindsay’s results here and PACCAR’s results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 14.1% on average over the last month. Titan International is up 22.5% during the same time and is heading into earnings with an average analyst price target of $11.75 (compared to the current share price of $8.13).
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