Titan International(US:TWI)2022-03-03 16:51Company Overview - Titan is a top global manufacturer of off-highway wheels, tires, and undercarriage products[5] - Titan operates in three business segments: Agricultural, Earthmoving/Construction (EMC), and Consumer[6] - Titan has a diverse global footprint with manufacturing facilities in North America, Latin/South America, Europe/Russia, Asia/Africa, and Australia[9] Financial Performance (Q4 2021) - Net sales were $488 million, a $161 million increase year-over-year, representing 51% organic revenue growth[62] - Adjusted EBITDA was $36.1 million, a $19 million increase year-over-year[62] - Gross margin was 12.8%, up 106 bps from 11.8% in Q4 of the prior year[63] - Adjusted net income attributable to Titan was $24.7 million, with diluted EPS of $0.39, compared to an adjusted net loss of ($5.9M) and diluted EPS of ($0.10) in Q4 2020[63] Financial Performance (FY 2021) - Sales reached $1.8 billion, compared to $1.3 billion in FY 2020[91] - Adjusted EBITDA was $135.0 million, compared to $54.0 million in FY 2020[91] - Net income attributable to Titan was $53.6 million, compared to a net loss of ($33.2M) in FY 2020[91] - Earnings per share - Diluted was $0.85, compared to ($0.55) in FY 2020[91] Segment Performance (YTD'21 vs YTD'20) - Agricultural net sales increased 49.6%[81] - EMC net sales increased 35.9%[84] - Consumer net sales increased 20.0%[86]