Titan Has Its Best Quarter in Nearly Nine Years
Titan International LLC recently achieved its best sales quarter in nearly nine years and a year-over-year sales increase of nearly 38%.
Titan achieved net sales increases across all of its segments during the first three months of 2022, "driven by price/product mix and volume, with price having a greater impact," according to Titan officials.
The company's 1Q 2022 sales totaled $556 million. Its first quarter 2022 gross profit totaled $86.7 million versus $53.3 million posted during 1Q 2021.
"We were able to pick up right where we left off in 2021, with another stellar quarter to begin the year," says Titan President and CEO Paul Reitz.
"The runway for our business moving forward looks good."
Titan's ag and OTR tire businesses continue to reflect "strong demand driven by solid market fundamentals," he adds.