Agricultural and farm machinery company Titan (NSYE:TWI) will be reporting earnings tomorrow afternoon. Here's what to expect.
Titan International missed analysts' revenue expectations by 10.3% last quarter, reporting revenues of $482.2 million, down 12.1% year on year. It was a weak quarter for the company, with revenue guidance for next quarter missing analysts' expectations and a miss of analysts' earnings estimates.
Is Titan International a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Titan International's revenue to grow 13.7% year on year to $547.3 million, a reversal from the 16% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
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 15.4% year on year, missing analysts' expectations by 3.6%, and PACCAR reported a revenue decline of 2.1%, in line with consensus estimates. Lindsay traded up 8.6% following the results while PACCAR was down 9.3%.
Read our full analysis of Lindsay's results here and PACCAR's results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 10.2% on average over the last month. Titan International is up 14.7% during the same time and is heading into earnings with an average analyst price target of $16.5 (compared to the current share price of $8.36).
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