Company profile

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

CTB stock data



28 Oct 19
9 Dec 19
31 Dec 19


Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 704.13M 679.13M 619.16M 770.49M
Net income 29.34M 8.82M 6.98M -419K
Diluted EPS 0.58 0.18 0.13 -0.01
Net profit margin 4.17% 1.30% 1.13% -0.05%
Operating income 52.77M 31.67M 26.43M 24.83M
Net change in cash 25.41M 147.64M
Cash on hand 137.09M 111.68M 356.25M
Cost of revenue 589.77M 579.99M 530.91M 645.85M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 2.81B 2.85B 2.92B
Net income 76.59M 95.4M 248.38M 212.77M
Diluted EPS 1.51 1.81 4.51 3.69
Net profit margin 2.73% 3.34% 8.49%
Operating income 165.25M 309.25M 437.46M 354.48M
Net change in cash -15.43M -132.74M -734K -46.5M
Cash on hand 356.25M 371.68M 504.42M 505.16M
Cost of revenue 2.36B 2.3B 2.23B 2.36B

Financial data from company earnings reports

Financial report summary

  • 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.
  • 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.
  • 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.
  • 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.
  • 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 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.
  • If the Company is unable to attract and retain key personnel, its business could be materially adversely affected.
  • The Company has a risk due to volatility of the capital and financial markets.
  • Increases in interest rates or changes in credit ratings may negatively impact the Company.
  • 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.
  • 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.
  • 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.
  • The realizability of deferred tax assets may affect the Company’s profitability and cash flows.
  • Compliance with and changes in tax laws, including tax reform legislation in the United States that is still being finalized, could materially and adversely impact our financial condition, results of operations and cash flows.
  • 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 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 September 30, 2019 were $704 million, a decrease of $34 million from 2018. Lower unit volumes ($54 million) and unfavorable foreign currency impact ($7 million) were partially offset by favorable price and mix ($27 million).
  • Consolidated net sales for the first nine months of 2019 were $2,002 million, a decrease of $36 million from the comparable period one year ago. In the first nine months of 2019, the Company experienced favorable price and mix ($72 million), offset by lower unit volume ($92 million) and unfavorable foreign currency impact ($16 million).
  • The Company recorded operating profit of $53 million in the third quarter of 2019, compared to operating profit of $81 million in the third quarter of 2018. The third quarter of 2019 included $23 million of higher net product liability expense, primarily due to a $31 million benefit related to an adjustment of the company's product liability reserve model in the third quarter of 2018, as well new tariffs of $15 million on imports into the U.S. from China compared to the same period a year ago. Aside from these items, operating profit for the third quarter of 2019 included $24 million of favorable raw material costs (excluding the new tariffs) and $20 million of favorable price and mix. This favorability was offset by lower unit volume of $16 million, higher manufacturing costs of $12 million, increased selling, general and administrative expenses of $2 million, and $1 million of restructuring costs related to the decision to cease light vehicle tire production at the Melksham, U.K. facility in the first quarter of 2019. In addition, other costs increased $3 million compared to the third quarter of 2018, primarily as a result of increased distribution costs.
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New words: ACTR, CECL, doubtful, evidence, exam, forthcoming, methodology, Oct, qualify, scope, slightly, stagnation, upcoming
Removed: deductibility, England, expensing, law, limitation, supplied, taxable