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TITAN INTERNATIONAL INC (TWI)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsJun-30-23Dec-31-22Sep-30-22Jun-30-22Mar-31-22Dec-31-21Sep-30-21Jun-30-21
   10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Revenue from Contract with Customer, Excluding Assessed Tax  481.2509.8530.7572.9556.0487.7450.4438.6
            Revenue from Contract with Customer, Excluding Assessed Tax growth  -16.0%4.5%17.8%30.6%37.8%49.2%47.8%53.3%
Cost of sales  395.3433.1443.1463.2469.3425.2390.1377.2
    Gross profit  85.976.787.6109.786.762.560.361.5
            Gross margin  17.9%15.0%16.5%19.1%15.6%12.8%13.4%14.0%
Selling, general and administrative expenses  34.930.531.434.736.233.032.232.6
Research and development expenses  3.22.82.42.22.92.72.42.5
Royalty expense  1.92.53.33.02.92.62.82.7
    Income (loss) from operations  45.940.950.569.744.724.322.923.7
            Operating margin  9.5%8.0%9.5%12.2%8.0%5.0%5.1%5.4%
Interest expense, net  -5.8-7.0-7.2-7.7-7.9-8.3-7.8-8.6
Foreign exchange gain (loss)  0.0-7.81.22.25.32.90.4-0.8
Other income  1.2-49.99.723.7-8.9-3.60.61.2
    Income before income taxes  41.327.054.287.933.319.516.1-0.4
Provision for income taxes  9.4-16.011.419.08.7-8.85.32.0
            Tax rate  22.8% 21.1%21.6%26.1% 33.1% 
    Net income  31.943.042.768.924.628.310.8-2.4
Net income attributable to noncontrolling interests  1.70.9-0.51.80.70.7-0.40.3
    Net income attributable to Titan and applicable to common shareholders  30.242.043.267.223.927.611.2-2.8
   
Earnings per common share:          
Basic  $0.48$0.67$0.69$1.07$0.37$0.44$0.18($0.04)
Diluted  $0.48$0.66$0.68$1.06$0.37$0.44$0.18($0.04)
   
Average common shares and equivalents outstanding:          
Basic  62.963.062.862.763.962.162.361.7
Diluted  63.263.763.263.264.462.762.661.7

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