Titan to announce 2012 sales guidance
Although Titan International intends to announce full details of its 2012 sales predictions in a conference call tomorrow, the company has already indicated its expects sales of up to US$1.9 billion next year – and the potential for even higher sales exists.
We have had a great year and we are forecasting 2012 to be our best year based on the conditions I see today,” commented Maurice Taylor, chairman and CEO of Titan International. “The agriculture market remains strong, earthmover is booming and we see great opportunities in the export market. Assuming little change in raw material costs, I forecast Titan sales to range $1.7 billion to $1.9 billion for 2012. This sales range is projected to generate an EBITDA from $225 million to $300 million.” If Titan plants receive certain new equipment by September 2012, sales could even exceed $2 billion, the company adds.
The 2012 forecast does not include any anticipated acquisitions, however, as Titan does not discuss pending acquisitions before a public announcement is filed by the company. As for this year, sales are expected to be in range with the September guidance of $1.4 billion. “We exit the year with much optimism for what lies ahead for ag, construction and earthmoving business,” Taylor added.
“I wish you all a safe, healthy and happy holiday season. 2012 will be a real wild ride,” the Titan chairman and CEO concluded.
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