Titan international, inc. (TWI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenue from Contract with Customer, Excluding Assessed Tax

341,500

301,790

345,905

390,597

410,374

363,403

384,719

428,904

425,382

376,034

370,988

364,399

357,501

307,294

306,195

330,214

321,794

307,809

308,836

376,067

402,059

383,277

449,579

523,731

538,940

494,407

497,510

593,291

578,387

493,638

404,719

459,233

463,088

402,917

398,805

404,447

280,829

222,818

229,656

Cost of sales

311,677

283,458

318,805

352,289

365,110

326,714

341,015

370,592

365,821

330,164

330,851

320,379

317,300

272,814

271,275

286,496

293,497

293,066

282,683

325,014

359,265

356,461

405,940

468,161

484,390

445,129

435,004

506,636

481,636

442,109

337,558

377,147

369,725

344,409

345,811

340,113

224,557

194,872

195,753

Asset Impairment Cost

2,579

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

34,797

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Gross Profit

27,244

18,332

27,100

38,308

45,264

36,689

43,704

58,312

59,561

35,953

40,137

44,020

40,201

34,480

34,920

43,718

28,297

14,743

26,153

51,053

42,794

21,681

43,639

20,773

54,550

49,278

62,506

86,655

96,751

51,529

67,161

82,086

93,363

58,508

52,994

64,334

56,272

27,946

33,903

Selling, General and Administrative Expense

31,957

31,092

34,954

35,746

35,905

32,481

33,709

33,960

34,639

35,122

39,753

34,463

41,338

37,276

36,348

36,302

35,062

31,359

35,512

37,848

35,674

44,713

39,231

42,835

46,835

42,544

38,731

43,653

42,443

46,415

25,497

23,410

30,835

35,503

8,548

16,573

25,293

12,037

12,162

Research and Development Expense

2,410

2,389

2,309

2,544

2,617

2,924

2,591

2,754

2,877

2,394

2,457

2,608

2,843

2,181

2,597

2,714

2,479

2,315

2,982

2,779

3,086

3,473

3,247

3,575

3,710

2,884

2,778

2,801

2,702

2,692

1,759

1,189

1,508

1,235

796

1,014

1,183

1,112

1,900

Royalty expense

2,480

2,373

2,453

2,448

2,606

2,209

2,581

2,634

2,663

2,746

2,596

2,533

2,609

2,168

2,285

2,109

2,294

2,292

2,121

2,895

3,225

2,832

3,675

3,830

3,741

3,299

3,942

3,295

3,723

3,520

3,739

2,652

2,349

2,260

2,263

2,350

2,917

2,275

2,413

Supply agreement termination income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

26,134

-

-

0

0

-

-

-

Income (loss) from operations

-9,603

-17,522

-12,616

-2,430

4,136

-925

4,823

18,964

19,382

-4,309

-4,669

4,416

-6,589

-7,145

-6,310

2,593

-11,538

-21,223

-14,462

7,531

809

-65,908

-2,514

-29,467

264

551

17,055

36,906

47,883

-1,098

36,166

80,969

58,671

19,510

41,387

44,397

26,879

12,522

17,428

Interest Expense

8,035

8,552

8,357

8,295

7,933

7,670

7,596

7,672

7,518

7,651

7,537

7,320

7,721

7,331

8,714

7,982

8,512

8,345

8,289

8,642

8,756

9,428

8,951

8,926

9,259

11,196

12,414

13,069

10,441

8,959

6,187

6,217

6,295

6,214

6,616

6,149

6,280

5,867

6,790

Convertible debt conversion charge

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,273

0

0

0

0

0

0

0

16,135

0

0

Loss on senior note repurchase

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-473

-2,722

Gain on earthquake insurance recovery

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

22,451

-

-

0

0

-

-

-

-

-

-

-

Foreign Currency Transaction Gain (Loss), before Tax

-17,242

1,781

-2,266

-1,239

5,723

-3,992

855

-3,610

-4,432

-2,006

815

-5,257

4,490

1,147

398

2,182

4,823

962

-15,333

3,647

5,966

-

-13,266

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Nonoperating Income (Expense)

7,436

-

-

-

996

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income

-

-

5,259

2,069

-

1,534

7,437

2,477

7,750

2,112

2,569

1,750

2,677

-617

3,578

3,049

3,905

4,732

755

3,259

2,317

4,220

2,587

6,335

516

4,223

8,722

-2,429

1,419

660

2,439

613

3,111

2,924

-556

2,270

193

401

-427

(Loss) income before income taxes

-27,444

-23,091

-17,980

-9,895

2,922

-11,053

5,519

10,159

15,182

-30,500

-8,822

-6,411

-7,143

-13,946

-11,048

-158

-11,322

-23,874

-37,329

5,795

336

-89,563

-22,144

-32,058

-8,479

-34,076

13,363

43,859

31,588

28,981

32,418

75,365

55,487

16,505

34,215

40,518

4,657

6,583

7,489

Provision for income taxes

55

2,714

2,064

-3,218

1,915

3,024

2,841

1,683

-786

5,239

2,396

126

3,442

703

-2,074

3,648

1,004

31,562

283

1,515

1,396

-6,174

-5,127

-7,167

-3,351

-13,866

5,711

21,003

12,199

21,891

13,589

31,040

20,093

2,414

12,690

14,962

7,693

2,568

2,920

Net (loss) income

-27,499

-25,805

-20,044

-6,677

1,007

-14,077

2,678

8,476

15,968

-35,739

-11,218

-6,537

-10,585

-14,649

-8,974

-3,806

-12,326

-55,436

-37,612

4,280

-1,060

-83,389

-17,017

-24,891

-5,128

-20,210

7,652

22,856

19,389

7,090

18,829

44,325

35,394

14,091

21,525

25,556

-3,036

4,015

4,569

Net loss attributable to noncontrolling interests

-2,013

-971

-900

-253

-970

-1,786

383

40

-1,679

-5,461

800

-244

868

-1,051

-966

-550

417

-4,735

-6,136

-2,491

-1,292

-30,343

-7,950

-4,380

-7,291

-4,630

-441

-361

-86

-1,087

-750

269

-25

-370

362

-8

0

0

0

Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

269

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-25,486

-24,834

-19,144

-6,424

1,977

-12,291

2,295

8,436

17,647

-30,278

-12,018

-6,293

-11,453

-13,598

-8,008

-3,256

-12,743

-50,701

-31,476

6,771

232

-53,046

-9,067

-20,511

2,163

-15,580

8,093

23,217

19,475

8,177

19,579

44,056

35,419

14,461

21,163

25,564

-3,036

4,015

4,569

Redemption value adjustment

0

0

-491

-661

-776

-1,141

-4,045

-4,678

-2,343

-2,412

-882

-4,040

941

-1,081

-1,367

-1,900

-5,208

-6,267

-11,051

2,580

-2,930

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Available to Common Stockholders, Basic

-25,486

-24,834

-19,635

-7,085

1,201

-13,432

-1,750

3,758

15,304

-32,690

-12,900

-10,333

-10,512

-14,679

-9,375

-5,156

-17,951

-56,968

-42,527

9,351

-2,698

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings Per Share [Abstract]
Basic

-0.42

-0.41

-0.33

-0.12

0.02

-0.23

-0.03

0.06

0.26

-0.55

-0.22

-0.17

-0.18

-0.27

-0.17

-0.10

-0.33

-

-0.79

0.17

-

-1.58

-0.47

-0.40

0.02

-0.30

0.15

0.43

0.38

0.12

0.46

1.05

0.84

0.36

0.50

0.61

-0.07

0.12

0.13

Earnings Per Share, Basic and Diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.05

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Diluted

-0.42

-0.41

-0.33

-0.12

0.02

-0.23

-0.03

0.06

0.26

-0.55

-0.22

-0.17

-0.18

-0.27

-0.17

-0.10

-0.33

-1.06

-0.79

0.17

-0.05

-1.58

-0.47

-0.40

0.02

-0.25

0.15

0.40

0.34

0.14

0.39

0.84

0.68

0.33

0.42

0.50

-0.07

0.11

0.12

Average common shares and equivalents outstanding:
Weighted Average Number of Shares Outstanding, Basic

60,360

60,293

60,161

60,000

59,946

59,922

59,897

59,750

59,711

59,611

59,600

59,577

58,572

53,980

53,946

53,884

53,854

53,728

53,707

53,686

53,663

53,535

53,497

53,486

53,470

53,474

53,440

53,426

51,816

47,077

42,180

42,158

42,105

42,108

42,028

41,981

40,511

34,868

34,815

Weighted Average Number of Shares Outstanding, Diluted

60,360

60,293

60,161

60,000

59,946

59,985

59,897

59,878

59,876

59,611

59,600

59,577

58,572

53,980

53,946

53,884

53,854

47,925

53,707

59,489

53,663

53,231

53,497

53,486

53,774

59,551

59,391

59,504

59,642

58,356

53,326

53,516

53,450

65,610

53,061

53,394

40,511

51,773

51,407

Dividends declared per common share:

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00