Titan International Inc (TWI)

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Titan Intl misses by $0.08, misses on revs

8:40 AM ET 7/26/12 | Briefing.com Reports Q2 (Jun) earnings of $0.56 per share, $0.08 worse than the Capital IQ Consensus Estimate of $0.64; revenues rose 13.6% year/year to $459.2 mln vs the $492.05 mln consensus. The higher sales levels were the result of increased demand in the Company's agricultural and earthmoving/construction segments combined with price/mix improvements. "The second quarter was a record for Titan, but it could have been even bigger. The order books are very strong. The tire group was affected by the record heat wave and it impacted our efficiency. The Bryan plant was also affected by the equipment being added to the plant for the capacity expansion. The work has been in process since the beginning of the year and will continue through the remaining of 2012. This capacity expansion should increase our output each quarter through the first quarter of 2013."