Tire manufacturer Titan International’s sales to John Deere represented 13% of its 2023 net sales, according to its 10-K annual report released Feb. 29.
In its third quarter earnings reported Nov. 1, Titan International reported $213 million in agricultural revenue for the quarter, down 26.4% year-over-year.
Ag Equipment Intelligence has compiled data from the SEC filings of publicly-traded manufacturers to compare their research & development (R&D) spending with their ag equipment sales.
In its 2Q23 earnings report, Titan International reported total revenue for the first 6 months of the year at $1.03 billion, down 8.8% from $1.13 billion at the same point last year.
In it's 10-K formed filed on Feb. 27, Titan International acknowledged its limited customer base as one of the company's risk factors, including that sales to John Deere made up 15% of its 2022 sales.
Titan International, Inc., a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported results for the fourth quarter and year ended December 31, 2022.
Titan International, Inc., a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported results for the second quarter ended June 30, 2022.
According to a June 17 report from Morningstar, Titan International has entered a "global long-term agreement" to supply John Deere with wheels and tires.
"We were able to pick up right where we left off in 2021 with another stellar quarter to begin the year," stated Paul Reitz, president and chief executive officer.
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