Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations Management’s discussion and analysis of financial condition and results of operations (MD&A) is designed to provide a reader of the financial statements included in this quarterly report with a narrative from the perspective of the management of Titan International, Inc. (Titan or the Company) on Titan’s financial condition, results of operations, liquidity, and other factors that may affect the Company’s future results. The MD&A in this quarterly report should be read in conjunction with the condensed consolidated financial statements and other …
BOSTON–(BUSINESS WIRE)–May 6, 2019– Cabot Corporation (NYSE: CBT) today announced results for its second quarter of fiscal year 2019.
- Positive impact from calendar year 2019 tire customer agreements more than offset by pricing weakness in China in Reinforcement Materials
- Performance Chemicals impacted by soft automotive demand and a less favorable product mix
- Announced agreement to divest Specialty Fluids segment in transaction valued at $135 million
- Continued commitment to return cash to shareholders with $70 million of dividends and share repurchases in the quarter
Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of Specialty and High-Performance Carbon Black, today announced first quarter 2019 financial results.
First Quarter 2019 Highlights
- Net Income of $19.0 million and basic EPS of $0.32 versus $26.8 million and $0.45 in first quarter of 2018
- Adjusted EPS1 of $0.40
- Cash flow from operations of $26.2 million
- Total Carbon Black volumes decreased
Trelleborg, Sweden – Trelleborg AB has seen a reduction in business from automotive-related customers during the first quarter of 2019, the company reported 26 April.
While sales grew 9% year-on-year to SEK9.38 billion (€884 million), Trelleborg said organic growth slowed at 1% compared to the preceding period.
Earnings (EBITDA) grew 1% to SEK1.38 billion, while EBIT margin fell to 13.8% from 15.1% in the prior-year first quarter.
Hanover, Germany — Continental Corp. has registered a 17.1% year-on-year decline in earnings on flat sales for the first quarter of 2019.
Adjusted EBITDA fell to €884 million for the first three months of the year, while sales grew 0.3% to €11 billion, Continental said in a release 26 April.
The company statement did not offer a breakdown of the business performance of its various divisions.
Shares in Michelin, which also reported better-than-expected results for 2018 late on Monday, were up 7.5 percent in early session trading. The stock was the best performer on France’s benchmark CAC-40 index.
“Michelin is able to sustain premium price points, while concurrently gaining market share – this is the perfect recipe for earnings growth,” analysts at Citigroup wrote in a note, keeping a “buy” rating on Michelin shares.
BOSTON—Cabot’s reinforcement materials segment, which includes its rubber carbon black business, has posted a 33 percent year-on-year growth in full-year earnings (EBITDA) to $350 million.
The Board of Directors at Nokian Tyres has set new financial targets for 2019-2021. These targets include faster than market growth of more than five per cent CAGR, EBIT at 22 per cent and a shareholders’ dividend of more than 50 per cent of net earnings. Nokian says the financial targets will guide the company in reaching the strategic ambitions it set in early 2018, which include increasing sales by 50 per cent in Central Europe and doubling them in North America within the next five years.
Tokyo – Bridgestone Corp. has seen its operating income decline 3% to Yen290.8 billion (€2.25 billion) in the first nine months of 2018, compared to the same period the year before.
The Japanese tire and rubber company reported a 0.4% increase in net sales for the period at Yen2.67 trillion in its third quarter results published 8 Nov.
Sales in the tire division rose 1% compared to 2017 to Yen2.22 trillion, while diversified products’ sales remained flat at Yen466 billion.
Tokyo – Zeon Corp.’s elastomer business has seen operating profit fall 16% year-on-year to Yen9.5 billion for the first six months of its financial year, ending March 2019.
In its half-year financial results 31 Oct, the Japanese materials supplier said rubber sales rose 1% to Yen7 billion despite a 1% decline in volumes at 175,000 tonnes for the period.
The business unit includes Rubbers, Latex and Chemicals.