Company profile

Bradley E. Hughes
Incorporated in
Fiscal year end
Industry (SEC)
IRS number

CTB stock data



7 May 20
7 Jul 20
31 Dec 20


Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 531.69M 750.21M 704.13M 679.13M
Net income -11.32M 52.87M 29.01M 9.26M
Diluted EPS -0.23 1.02 0.58 0.18
Net profit margin -2.13% 7.05% 4.12% 1.36%
Operating income -6.23M 63.58M 52.77M 31.67M
Net change in cash 42.03M 254.24M 25.41M -100.65M
Cash on hand 433.36M 391.33M 137.09M 111.68M
Cost of revenue 475.78M 618.69M 589.77M 579.99M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 2.75B 2.81B 2.85B 2.92B
Net income 98.32M 80.56M 96.75M 251.29M
Diluted EPS 1.91 1.51 1.81 4.51
Net profit margin 3.57% 2.87% 3.39% 8.59%
Operating income 174.46M 165.25M 309.25M 437.46M
Net change in cash 35.08M -15.43M -132.74M -734K
Cash on hand 391.33M 356.25M 371.68M 504.42M
Cost of revenue 2.32B 2.36B 2.3B 2.23B

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
30 Jun 20 Walker Brian C Phantom Stock Common Stock Grant Aquire A No 27.61 452.735 12.5K 12,818.62
30 Jun 20 Steven M Chapman Phantom Stock Common Stock Grant Aquire A No 27.61 905.469 25K 140,669.41
8 May 20 Steven M Chapman Phantom Stock Common Stock Grant Aquire A No 22.22 5,625.56 125K 139,197.002
8 May 20 Davis Susan F Phantom Stock Common Stock Grant Aquire A No 22.22 5,625.56 125K 22,400.39
8 May 20 Kathryn P Dickson Phantom Stock Common Stock Grant Aquire A No 22.22 5,625.56 125K 9,801.198
97.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 176 192 -8.3%
Opened positions 24 37 -35.1%
Closed positions 40 28 +42.9%
Increased positions 77 59 +30.5%
Reduced positions 49 68 -27.9%
13F shares
Current Prev Q Change
Total value 2.36B 4.07B -42.1%
Total shares 48.78M 49.27M -1.0%
Total puts 33.8K 62.5K -45.9%
Total calls 35.5K 52.2K -32.0%
Total put/call ratio 1.0 1.2 -20.5%
Largest owners
Shares Value Change
BLK BlackRock 7.59M $123.74M -2.5%
Vanguard 5.36M $87.42M +4.0%
Dimensional Fund Advisors 3.99M $65.07M -2.0%
LSV Asset Management 2.21M $35.99M -4.7%
Deprince Race & Zollo 2.1M $34.22M +11.2%
Wellington Management 1.82M $29.64M +22.2%
STT State Street 1.73M $28.17M +6.4%
Royce & Associates 1.63M $26.58M +12.4%
Frontier Capital Management 1.57M $25.55M -0.4%
NTRS Northern Trust 1.55M $25.24M +0.5%
Largest transactions
Shares Bought/sold Change
Citadel Advisors 270.13K -843.68K -75.7%
Norges Bank 0 -642.56K EXIT
Sandbar Asset Management 394.6K +394.6K NEW
Arrowstreet Capital, Limited Partnership 414.98K -343.17K -45.3%
Wellington Management 1.82M +330.61K +22.2%
Millennium Management 123.11K -316.45K -72.0%
Jacobs Levy Equity Management 212.4K +212.4K NEW
Deprince Race & Zollo 2.1M +212.06K +11.2%
Vanguard 5.36M +205.04K +4.0%
BLK BlackRock 7.59M -191.41K -2.5%

Financial report summary

  • The Company has a risk due to volatility of the capital and financial markets.
  • Pricing volatility for raw materials or commodities or an inadequate supply of key raw materials could result in increased costs and may significantly affect the Company’s profitability.
  • Any interruption in the Company’s skilled workforce, or that of its suppliers or customers, including labor disruptions, could impair its operations and harm its earnings and results of operations.
  • The Company is facing heightened risks due to the uncertain business environment.
  • The Company’s results could be impacted by changes in tariffs, trade agreements or other trade restrictions imposed by the U.S. or other governments on imported tires, raw materials or equipment used in tire manufacturing.
  • A disruption in, or failure of, the Company’s information technology systems, including those related to cybersecurity, could adversely affect the Company’s business operations and financial performance.
  • If the Company is unable to attract and retain key personnel, its business could be materially adversely affected.
  • The Company’s industry is highly competitive, and the Company may not be able to compete effectively with lower-cost producers and larger competitors.
  • The Company has and could in the future incur restructuring charges and other costs as it continues to execute actions in an effort to improve future profitability and competitiveness and may not achieve the anticipated savings and benefits from these actions.
  • If the price of energy sources increases, the Company’s operating expenses could increase significantly or the demand for the Company’s products could be affected.
  • If the Company fails to develop technologies, processes or products needed to keep up with rapidly evolving distribution channels and to support consumer demand or, changes in consumer behavior, it may lose significant market share or be unable to recover associated costs.
  • If assumptions used in developing the Company’s strategic plan are inaccurate or the Company is unable to execute its strategic plan effectively, its profitability and financial position could be negatively impacted.
  • The Company may not be successful in executing and integrating investments and acquisitions into its operations, which could harm its results of operations and financial condition.
  • The Company may be adversely affected by legal actions, including product liability claims which, if successful, could have a negative impact on its financial position, cash flows and results of operations.
  • The Company is facing supply risks related to certain tires it purchases from PCT.
  • The Company conducts its manufacturing, sales and distribution operations on a worldwide basis and is subject to risks associated with doing business outside the U.S.
  • There are risks associated with the Company’s global strategy, which includes using joint ventures and partially-owned subsidiaries.
  • The results of the United Kingdom’s referendum on withdrawal from the European Union may have a negative effect on global economic conditions, financial markets or the Company’s business.
  • Compliance with legal and regulatory initiatives could increase the cost of operating the Company’s business.
  • Compliance with and changes in tax laws could materially and adversely impact our financial condition, results of operations and cash flows.
  • Increases in interest rates or changes in credit ratings may negatively impact the Company.
  • The Company may fail to successfully develop or implement information technologies or related systems, resulting in a significant competitive disadvantage.
  • A failure in the Company's internal financial controls could adversely affect the Company's business operations and financial performance.
  • Environmental issues, including climate change, or legal, regulatory or market measures to address environmental issues, may negatively affect the Company's business and operations and cause it to incur significant costs.
  • The Company has been and may continue to be impacted by currency fluctuations, which may reduce reported results for the Company’s international operations and otherwise adversely affect the business.
  • The Company may not be able to protect its intellectual property rights adequately.
  • The Company’s expenditures for pension and other postretirement obligations could be materially higher than it has predicted if its underlying assumptions prove to be incorrect.
  • The realizability of deferred tax assets may affect the Company’s profitability and cash flows.
  • The impact of proposed new accounting standards may have a negative impact on the Company’s financial statements.
  • The Company is facing risks relating to healthcare legislation.
Management Discussion
  • Consolidated net sales for the quarter ended March 31, 2020 were $532 million, a decrease of $87 million from 2019. In 2020, the Company experienced lower unit volume ($98 million) primarily as a result of the market slowdown caused by the COVID-19 pandemic, as well as unfavorable foreign currency impact ($4 million), partially offset by favorable price and mix ($15 million).
  • The Company incurred an operating loss of $6 million in the first quarter of 2020, compared to operating profit of $26 million in 2019. The Company's 2020 operating loss included $30 million of increased manufacturing costs, primarily related to production days lost due to plant shut downs in the first quarter, and $18 million of lower unit volume, both attributable to the COVID-19 pandemic. These decreases were partially offset by $12 million of lower raw material costs, $6 million of favorable price and mix and $6 million of lower selling, general and administrative expenses. The first quarter of 2020 included $11 million of restructuring costs within the Americas Tire Operations segment related to the Company's acquisition of the remaining noncontrolling ownership interest in COOCSA. The first quarter of 2019 included $5 million of restructuring costs within the International Tire Operations segment related to the Company's decision to cease light vehicle tire production at its UK facility. Other costs increased $2 million in the first quarter of 2020 compared to the first quarter of 2019.
  • The principal raw materials for the Company include natural rubber, synthetic rubber, carbon black, chemicals and steel reinforcement components. Approximately 70 percent of the Company’s raw materials are petroleum-based. Substantially all U.S. inventories have been valued using the LIFO method of inventory costing, which accelerates the impact to cost of goods sold from changes to raw material prices.
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