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![TITAN INTERNATIONAL INC [TWI] reports annual net loss of $83.7 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FTWI.png&w=1200&q=75)
TITAN INTERNATIONAL INC [TWI] has reported a net loss of $83.7 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.8 billion
Based in QUINCY, Illinois, TITAN INTERNATIONAL INC operates in the MANUFACTURING sector.
The consolidated statements of operations for the fiscal year ended December 31, 2023, compared to the previous fiscal years, show the following financial performance:
Net Sales:
- 2023: $1.82 billion
- 2022: $2.17 billion
- 2021: $1.78 billion
Cost of Sales:
- 2023: $1.52 billion
- 2022: $1.81 billion
- 2021: $1.54 billion
Gross Profit:
- 2023: $305.85 million
- 2022: $360.71 million
- 2021: $237.54 million
Income from Operations:
- 2023: $148.73 million
- 2022: $205.80 million
- 2021: $85.17 million
Net Income:
- 2023: $83.71 million
- 2022: $179.19 million
- 2021: $49.89 million
Earnings (Loss) per Common Share:
- Basic:
- 2023: $1.26
- 2022: $2.80
- 2021: $0.80
- Diluted:
- 2023: $1.25
- 2022: $2.77
- 2021: $0.79
Overall, the company experienced a decrease in net sales, gross profit, and net income in 2023 compared to 2022. However, there was an improvement in income from operations in 2023. Earnings per share also decreased from 2022 to 2023. It is essential to monitor the company's performance and analyze the factors contributing to these changes for informed decision-making.
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