Agricultural and farm machinery company Titan (NYSE: TWI) will be announcing earnings results this Thursday before the bell. Here’s what you need to know.
Titan International beat analysts’ revenue expectations last quarter, reporting revenues of $505.1 million, up 2.9% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA estimates but EPS in line with analysts’ 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 4.2% year on year, a reversal from the 13.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. Lindsay’s revenues decreased 5.1% year on year, missing analysts’ expectations by 5.1%, and Oshkosh reported revenues up 6.7%, topping estimates by 3.3%. Lindsay traded down 2.9% following the results.
Read our full analysis of Lindsay’s results here and Oshkosh’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the heavy machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. Titan International is up 5.2% 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 $8.26).
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