Titan International (NYSE:TWI) oscillates between small gains and losses in Thursday trading after Chairman Morry Taylor said the third quarter was “excellent and on track with sales and profitability,” expecting revenue of around $540 million after “typical summer vacation closings in Europe, typical summer shutdowns for plant maintenance and normal seasonality.”
While the agricultural equipment maker thinks the world is “fast heading into recession”, Taylor said Titan (TWI) is “in a great position” given the current dynamics of the agriculture market and ” will not be affected by Big R in any significant way.” … It really is the perfect time to produce wheels, tires and undercarriages in the agricultural business.”
“If the crop inventory does not increase, this market should continue to grow, especially in large agricultural equipment,” the president said. “Given that crops are more likely to fall below peak levels this year, 2023 should be another big year for TWI, and 2024 also has strong possibilities.”
Titan International (TWI) is experiencing a surge in global demand, and the stock is “an underestimated ‘new normal’ buying opportunity,” writes BehavioralSync in analysis recently published on Seeking Alpha.