Titan’s earnings fall in first quarter

ERJ staff report (R&PN)

Quincy, Illinois — Record sales of farm tyres failed to offset a decline in total sales and earning for Titan International Inc. during the first quarter.

The Quincy-based tyre maker reported a 13.4-percent decrease in net earnings to $7.04 million as net sales fell 8.2 percent to $232.6 million in the quarter ended March 31, compared with the year-ago period.

Agricultural sales hit a record of $187.3 million, an 8-percent jump over the previous first quarter.

“Large farm tyres and wheels were selling well in…

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