Titan International Inc
NYSE:TWI
Income Statement
Earnings Waterfall
Titan International Inc
Revenue
|
1.8B
USD
|
Cost of Revenue
|
-1.5B
USD
|
Gross Profit
|
296.2m
USD
|
Operating Expenses
|
-147.5m
USD
|
Operating Income
|
148.7m
USD
|
Other Expenses
|
-70m
USD
|
Net Income
|
78.8m
USD
|
Income Statement
Titan International Inc
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
2 164
N/A
|
2 124
-2%
|
2 055
-3%
|
2 007
-2%
|
1 896
-6%
|
1 759
-7%
|
1 611
-8%
|
1 470
-9%
|
1 395
-5%
|
1 315
-6%
|
1 269
-3%
|
1 266
0%
|
1 266
0%
|
1 301
+3%
|
1 335
+3%
|
1 400
+5%
|
1 469
+5%
|
1 537
+5%
|
1 601
+4%
|
1 615
+1%
|
1 602
-1%
|
1 587
-1%
|
1 549
-2%
|
1 510
-3%
|
1 449
-4%
|
1 380
-5%
|
1 275
-8%
|
1 234
-3%
|
1 259
+2%
|
1 321
+5%
|
1 474
+12%
|
1 619
+10%
|
1 780
+10%
|
1 933
+9%
|
2 067
+7%
|
2 147
+4%
|
2 169
+1%
|
2 162
0%
|
2 070
-4%
|
1 941
-6%
|
1 822
-6%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(1 868)
|
(1 877)
|
(1 843)
|
(1 817)
|
(1 729)
|
(1 607)
|
(1 463)
|
(1 338)
|
(1 271)
|
(1 204)
|
(1 165)
|
(1 153)
|
(1 133)
|
(1 160)
|
(1 194)
|
(1 254)
|
(1 309)
|
(1 356)
|
(1 407)
|
(1 417)
|
(1 414)
|
(1 413)
|
(1 395)
|
(1 373)
|
(1 330)
|
(1 276)
|
(1 179)
|
(1 133)
|
(1 138)
|
(1 177)
|
(1 299)
|
(1 416)
|
(1 553)
|
(1 673)
|
(1 759)
|
(1 813)
|
(1 820)
|
(1 804)
|
(1 735)
|
(1 627)
|
(1 526)
|
|
Gross Profit |
295
N/A
|
247
-16%
|
212
-14%
|
189
-11%
|
167
-12%
|
152
-9%
|
148
-2%
|
132
-11%
|
124
-6%
|
111
-11%
|
104
-6%
|
113
+8%
|
133
+18%
|
142
+7%
|
142
0%
|
146
+3%
|
160
+9%
|
180
+13%
|
195
+8%
|
198
+2%
|
188
-5%
|
174
-8%
|
154
-11%
|
138
-11%
|
119
-14%
|
104
-13%
|
97
-7%
|
101
+4%
|
121
+20%
|
145
+19%
|
175
+21%
|
203
+16%
|
227
+12%
|
260
+15%
|
308
+18%
|
335
+9%
|
349
+4%
|
358
+3%
|
335
-6%
|
315
-6%
|
296
-6%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(193)
|
(192)
|
(189)
|
(186)
|
(188)
|
(249)
|
(208)
|
(163)
|
(152)
|
(150)
|
(149)
|
(149)
|
(155)
|
(162)
|
(160)
|
(163)
|
(161)
|
(164)
|
(164)
|
(158)
|
(146)
|
(147)
|
(149)
|
(149)
|
(148)
|
(143)
|
(136)
|
(134)
|
(134)
|
(136)
|
(141)
|
(140)
|
(142)
|
(144)
|
(146)
|
(146)
|
(143)
|
(142)
|
(143)
|
(146)
|
(147)
|
|
Selling, General & Administrative |
(167)
|
(169)
|
(168)
|
(168)
|
(174)
|
(158)
|
(153)
|
(150)
|
(140)
|
(140)
|
(138)
|
(139)
|
(145)
|
(151)
|
(149)
|
(153)
|
(151)
|
(144)
|
(144)
|
(137)
|
(135)
|
(136)
|
(138)
|
(139)
|
(138)
|
(134)
|
(127)
|
(125)
|
(125)
|
(127)
|
(131)
|
(130)
|
(132)
|
(134)
|
(136)
|
(135)
|
(133)
|
(131)
|
(131)
|
(133)
|
(135)
|
|
Research & Development |
(11)
|
(13)
|
(13)
|
(14)
|
(14)
|
(14)
|
(13)
|
(13)
|
(11)
|
(11)
|
(11)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(10)
|
(10)
|
(10)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(12)
|
(13)
|
|
Other Operating Expenses |
(14)
|
(11)
|
(7)
|
(4)
|
0
|
(77)
|
(42)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(10)
|
(10)
|
(10)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
103
N/A
|
55
-46%
|
23
-58%
|
4
-84%
|
(21)
N/A
|
(97)
-360%
|
(60)
+38%
|
(30)
+49%
|
(27)
+10%
|
(40)
-45%
|
(45)
-12%
|
(36)
+18%
|
(22)
+38%
|
(20)
+11%
|
(18)
+9%
|
(17)
+9%
|
(1)
+92%
|
16
N/A
|
31
+90%
|
40
+31%
|
42
+5%
|
27
-36%
|
6
-79%
|
(12)
N/A
|
(28)
-141%
|
(40)
-39%
|
(39)
+2%
|
(33)
+15%
|
(13)
+61%
|
8
N/A
|
34
+303%
|
64
+88%
|
85
+34%
|
116
+36%
|
162
+40%
|
189
+17%
|
206
+9%
|
216
+5%
|
192
-11%
|
169
-12%
|
149
-12%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(68)
|
(68)
|
(55)
|
(72)
|
(62)
|
(54)
|
(53)
|
(55)
|
(35)
|
(36)
|
(37)
|
(20)
|
(18)
|
(12)
|
(19)
|
(17)
|
(41)
|
(51)
|
(50)
|
(51)
|
(35)
|
(26)
|
(25)
|
(30)
|
(26)
|
(49)
|
(40)
|
(39)
|
(41)
|
(14)
|
(24)
|
(23)
|
(19)
|
(24)
|
(20)
|
(18)
|
(28)
|
(33)
|
(34)
|
(31)
|
(40)
|
|
Non-Reccuring Items |
15
|
23
|
(35)
|
(35)
|
(77)
|
0
|
0
|
(42)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(10)
|
0
|
0
|
0
|
0
|
0
|
0
|
5
|
5
|
8
|
6
|
2
|
(15)
|
(17)
|
(28)
|
(29)
|
(14)
|
(24)
|
13
|
22
|
22
|
32
|
10
|
0
|
1
|
|
Gain/Loss on Disposition of Assets |
(0)
|
0
|
0
|
0
|
3
|
0
|
0
|
0
|
2
|
5
|
5
|
5
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
0
|
1
|
1
|
1
|
5
|
4
|
3
|
3
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
6
|
6
|
6
|
6
|
4
|
8
|
7
|
6
|
5
|
4
|
4
|
5
|
4
|
0
|
(1)
|
(3)
|
(1)
|
4
|
5
|
11
|
12
|
7
|
6
|
0
|
1
|
1
|
2
|
3
|
5
|
4
|
3
|
2
|
(1)
|
1
|
2
|
1
|
2
|
2
|
1
|
1
|
0
|
|
Pre-Tax Income |
55
N/A
|
15
-73%
|
(61)
N/A
|
(97)
-58%
|
(152)
-57%
|
(144)
+6%
|
(106)
+26%
|
(121)
-14%
|
(55)
+54%
|
(67)
-21%
|
(73)
-9%
|
(46)
+36%
|
(37)
+21%
|
(32)
+12%
|
(38)
-19%
|
(36)
+6%
|
(53)
-46%
|
(31)
+42%
|
(14)
+54%
|
0
N/A
|
20
+4 850%
|
8
-62%
|
(13)
N/A
|
(36)
-187%
|
(48)
-33%
|
(78)
-63%
|
(71)
+9%
|
(66)
+7%
|
(58)
+12%
|
(15)
+74%
|
(13)
+15%
|
17
N/A
|
51
+207%
|
68
+34%
|
157
+129%
|
195
+24%
|
202
+4%
|
217
+7%
|
170
-21%
|
140
-18%
|
110
-22%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(25)
|
(9)
|
19
|
30
|
22
|
17
|
8
|
3
|
(35)
|
(34)
|
(37)
|
(34)
|
(3)
|
(6)
|
(2)
|
(7)
|
(11)
|
(7)
|
(9)
|
(9)
|
(7)
|
(9)
|
(5)
|
(4)
|
(4)
|
(2)
|
(7)
|
(5)
|
(7)
|
(10)
|
(9)
|
(15)
|
(1)
|
(7)
|
(24)
|
(30)
|
(23)
|
(29)
|
(19)
|
(12)
|
(26)
|
|
Income from Continuing Operations |
30
|
5
|
(43)
|
(67)
|
(130)
|
(126)
|
(97)
|
(118)
|
(90)
|
(101)
|
(109)
|
(81)
|
(40)
|
(38)
|
(41)
|
(43)
|
(64)
|
(37)
|
(22)
|
(9)
|
13
|
(2)
|
(17)
|
(40)
|
(52)
|
(80)
|
(78)
|
(71)
|
(65)
|
(24)
|
(22)
|
2
|
50
|
61
|
133
|
165
|
179
|
188
|
151
|
128
|
84
|
|
Income to Minority Interest |
6
|
13
|
17
|
24
|
50
|
44
|
42
|
40
|
15
|
13
|
11
|
6
|
2
|
2
|
1
|
(0)
|
4
|
7
|
6
|
7
|
3
|
2
|
3
|
4
|
3
|
4
|
4
|
3
|
5
|
3
|
3
|
3
|
(0)
|
(1)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
|
Net Income (Common) |
35
N/A
|
17
-52%
|
(27)
N/A
|
(60)
-125%
|
(130)
-115%
|
(151)
-16%
|
(121)
+20%
|
(138)
-14%
|
(93)
+33%
|
(108)
-16%
|
(123)
-14%
|
(90)
+27%
|
(47)
+47%
|
(40)
+16%
|
(45)
-13%
|
(48)
-8%
|
(66)
-37%
|
(41)
+39%
|
(27)
+35%
|
(15)
+42%
|
4
N/A
|
(10)
N/A
|
(21)
-107%
|
(39)
-84%
|
(50)
-30%
|
(77)
-53%
|
(75)
+3%
|
(68)
+9%
|
(60)
+11%
|
(21)
+65%
|
(19)
+11%
|
5
N/A
|
50
+930%
|
60
+21%
|
130
+117%
|
162
+25%
|
176
+9%
|
184
+4%
|
147
-20%
|
123
-16%
|
79
-36%
|
|
EPS (Diluted) |
0.65
N/A
|
0.31
-52%
|
-0.5
N/A
|
-1.12
-124%
|
-2.43
-117%
|
-2.82
-16%
|
-2.22
+21%
|
-2.59
-17%
|
-1.73
+33%
|
-2.01
-16%
|
-2.28
-13%
|
-1.66
+27%
|
-0.87
+48%
|
-0.67
+23%
|
-0.75
-12%
|
-0.81
-8%
|
-1.12
-38%
|
-0.68
+39%
|
-0.45
+34%
|
-0.26
+42%
|
0.06
N/A
|
-0.17
N/A
|
-0.35
-106%
|
-0.65
-86%
|
-0.84
-29%
|
-1.28
-52%
|
-1.21
+5%
|
-1.12
+7%
|
-0.99
+12%
|
-0.35
+65%
|
-0.31
+11%
|
0.07
N/A
|
0.79
+1 029%
|
0.94
+19%
|
2.05
+118%
|
2.55
+24%
|
2.77
+9%
|
2.9
+5%
|
2.32
-20%
|
1.94
-16%
|
1.25
-36%
|