TITAN INTERNATIONAL INC (TWI) [Rocket]

In millions, except per share items	Jun-30-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21
	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q
Revenue from Contract with Customer, Excluding Assessed Tax		2,169.4	2,147.3	2,067.0	1,932.7	1,780.2	1,619.4	1,473.8
Revenue from Contract with Customer, Excluding Assessed Tax growth		21.9%	32.6%	40.2%	46.3%	41.4%	31.2%	15.6%
Cost of sales		1,808.7	1,800.8	1,747.8	1,661.7	1,542.7	1,407.3	1,290.7
Gross profit		360.7	346.5	319.2	271.0	237.5	200.9	171.9
Gross margin		16.6%	16.1%	15.4%	14.0%	13.3%	12.4%	11.7%
Selling, general and administrative expenses		132.8	135.3	136.1	134.0	131.8	135.9	137.1
Research and development expenses		10.4	10.2	10.2	10.5	10.1	9.7	9.6
Royalty expense		11.7	11.8	11.3	10.9	10.5	10.3	10.0
Income (loss) from operations		205.8	189.2	161.6	115.7	85.2	45.0	15.3
Operating margin		9.5%	8.8%	7.8%	6.0%	4.8%	2.8%	1.0%
Interest expense, net		-29.8	-31.1	-31.7	-32.6	-32.2	-31.4	-30.9
Foreign exchange gain (loss)		0.9	11.6	10.9	7.9	12.0	7.8	6.1
Other income		-25.4	20.9	11.9	-10.6	-3.3	-27.6	-26.0
Income before income taxes		202.4	194.9	156.8	68.5	51.0	16.6	-12.6
Provision for income taxes		23.2	30.4	24.2	7.2	1.1	14.5	9.5
Tax rate			15.6%	15.5%	10.6%		87.2%
Net income		179.2	164.5	132.6	61.2	49.9	2.1	-22.1
Net income attributable to noncontrolling interests		2.9	2.6	2.7	1.3	0.3	-2.7	-3.1
Net income attributable to Titan and applicable to common shareholders		176.3	161.9	129.9	59.9	49.6	4.8	-19.1

Earnings per common share:
Basic		$2.80	$2.57	$2.06	$0.95	$0.80	$0.08	($0.31)
Diluted		$2.77	$2.55	$2.05	$0.95	$0.80	$0.08	($0.31)

Average common shares and equivalents outstanding:
Basic		63.1	62.9	62.7	62.5	61.9	61.6	61.2
Diluted		63.6	63.4	63.2	62.8	62.4	61.9	61.5