Titan sets sales, income goals for 2009
Titan International Inc. has set a sales goal of $1.175 billion to $1.35 billion for 2009. The company is already on track to achieve more than $1 billion in sales this year.
"Material cost is expected to be down in the second quarter of 2009, lowering pricing," say Titan officials.
However, material pricing could spike during the second half of the year, they note, which "may possibly require higher pricing."
Titan also has set its EBITDA goal for 2009: $170 million to $190 million. "This goal will require better efficiency at the company's tire facilities, which should happen as a result of the completion of the super giant tire project re-alignment" within Titan, says Morry Taylor, the company's chairman and CEO.
Titan expects to generate positive operating cash flow of more than $100 million next year.