Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Best Places to Work
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
July 31, 2015 02:00 AM

Earnings up, sales down at Titan

Rubber & Plastics News Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    QUINCY, Ill.—Despite a drop in sales, Titan International Inc.'s net income, income from operations and gross profit rose in the second quarter.

    Sales fell 28 percent to $376.1 million from those recorded in the like 2014 period, while gross profit increased more than two-fold to $51.1 million from $20.8 million; income from operations was $7.5 million, up from a loss of $29.5 million in last year's second quarter; and net income was $4.2 million, a significant step up from the $24.9 million loss last year.

    “This past quarter, like the first, proves that what the management team has done in 2014 and thus far in 2015 is paying off,” said Maurice "Morry" Taylor, Titan CEO and chairman, in a statement.

    The company's agriculture, mining, construction and consumer businesses are all down, he said. “Overall sales are off 25 percent year over year, yet we have been able to improve our operating margin rate performance. Titan's liquidity remained stable during the quarter, with both cash and debt balances similar to the first quarter.

    “This demonstrates we are on the right track.”

    Related Articles
    Titan's Taylor optimistic despite difficult 2014
    Titan's earnings fall in first quarter
    Titan proposes to incorporate in Delaware
    Titan shareholders OK reincorporation
    Titan resumes production of Goodyear tire designs
    Titan considers wheel plant in Turkey
    Titan hires chief accounting officer
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Wacky World of Rubber: The true story behind the rubber match
    2
    Sumitomo Chemical ending SSBR, EPDM production
    3
    Sustainability, circularity require full tire industry buy-in
    4
    Arlanxeo plans Saudi Arabian SR production plant
    5
    VMI outlines tire technology upgrades for efficient, sustainable manufacturing
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Best Places to Work
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION