Company profile

Ticker
CTB
Exchange
CEO
Bradley E. Hughes
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
344297750

CTB stock data

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FINRA relative short interest over last month (20 trading days) ?

Calendar

24 Feb 20
5 Apr 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 750.21M 704.13M 679.13M 619.16M
Net income 51.26M 29.34M 8.82M 6.98M
Diluted EPS 1.02 0.58 0.18 0.14
Net profit margin 6.83% 4.17% 1.30% 1.13%
Operating income 63.58M 52.77M 31.67M 26.43M
Net change in cash 254.24M 25.41M
Cash on hand 391.33M 137.09M 111.68M
Cost of revenue 618.69M 589.77M 579.99M 530.91M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 2.75B 2.81B 2.85B 2.92B
Net income 96.4M 76.59M 95.4M 248.38M
Diluted EPS 1.91 1.51 1.81 4.51
Net profit margin 3.50% 2.73% 3.34% 8.49%
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 $Price #Shares $Value #Remaining
31 Mar 20 Steven M Chapman Phantom Stock Common Stock Grant Aquire A 16.3 1,533.742 25K 133,571.442
31 Mar 20 Walker Brian C Phantom Stock Common Stock Grant Aquire A 16.3 766.871 12.5K 6,690.164
13 Mar 20 Young Mark A. Common Stock Payment of exercise Dispose F 27.32 46 1.26K 5,512
13 Mar 20 Young Mark A. Common Stock Grant Aquire A 0 159 0 5,558
13 Mar 20 Hughes Bradley E. Common Stock Payment of exercise Dispose F 27.32 5,693 155.53K 300,493
13 Mar 20 Hughes Bradley E. Common Stock Grant Aquire A 0 12,981 0 306,186
13 Mar 20 Zamansky Stephen Common Stock Payment of exercise Dispose F 27.32 767 20.95K 85,532.269
13 Mar 20 Zamansky Stephen Common Stock Grant Aquire A 0 2,590 0 86,299.269
98.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 192 183 +4.9%
Opened positions 37 25 +48.0%
Closed positions 28 38 -26.3%
Increased positions 59 55 +7.3%
Reduced positions 68 66 +3.0%
13F shares
Current Prev Q Change
Total value 4.07B 3.73B +9.1%
Total shares 49.27M 48.31M +2.0%
Total puts 62.5K 121.9K -48.7%
Total calls 52.2K 56.22K -7.2%
Total put/call ratio 1.2 2.2 -44.8%
Largest owners
Shares Value Change
BLK BlackRock 7.78M $223.76M +1.4%
Vanguard 5.16M $148.29M -0.3%
Dimensional Fund Advisors 4.08M $117.16M -0.7%
LSV Asset Management 2.32M $66.6M -4.0%
Deprince Race & Zollo 1.89M $54.26M -6.3%
STT State Street 1.62M $46.7M +2.1%
Frontier Capital Management 1.57M $45.24M +24.4%
NTRS Northern Trust 1.54M $44.3M -0.6%
Wellington Management 1.49M $42.77M -27.3%
Royce & Associates 1.45M $41.7M +10.1%
Largest transactions
Shares Bought/sold Change
Norges Bank 642.56K +642.56K NEW
Wellington Management 1.49M -559.28K -27.3%
Fairpointe Capital 1.11M -468.29K -29.7%
Point72 Asset Management 564.36K +315.34K +126.6%
Frontier Capital Management 1.57M +309.1K +24.4%
Brandywine Global Investment Management 169.6K +169.6K NEW
Dean Investment Associates 136.86K +136.86K NEW
Royce & Associates 1.45M +133.49K +10.1%
Barrow Hanley Mewhinney & Strauss 132.41K +132.41K NEW
Citadel Advisors 1.11M +130.02K +13.2%

Financial report summary

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Risks
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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 year ended December 31, 2019 were $2,753 million, a decrease of $55 million from 2018. In 2019, the Company experienced favorable price and mix ($72 million), offset by lower unit volume ($112 million) and unfavorable foreign currency impact ($15 million). The negative impact to net sales from lower unit volume was caused by a 3.8 percent unit volume decline in Americas Tire, coupled with a 14.4 percent decline in International Tire Operations, compared to 2018.
  • The Company recorded operating profit of $174 million in 2019, compared to operating profit of $165 million in 2018. The Company's 2019 operating profit included $64 million of favorable raw material costs, excluding the antidumping and countervailing TBR duties and Section 301 duties ("new tariffs") described below, and $52 million of favorable price and mix, while the 2018 results included a goodwill impairment charge of $34 million in the Company's International Tires Operations segment. This favorability was partially offset by $32 million of new tariffs net of recovered duties ("duty drawbacks") on imports into the U.S. from China, as well as lower unit volume of $27 million, higher manufacturing costs of $26 million, higher product liability expense of $23 million and additional selling, general and administrative costs of $6 million. In 2019, the Company also incurred $9 million of restructuring costs related to the decision to cease light vehicle tire production at the Melksham, U.K. facility. Other costs increased $18 million in 2019, including higher distribution costs and the nonrecurrence of $6 million of insurance recoveries net of direct costs recorded in 2018.
  • On February 15, 2019, antidumping and countervailing duties of 42.16 percent were imposed on the Company's TBR tire imports into the U.S. from the PRC. The Company incurred duties of $34 million for the year ended December 31, 2019 related to antidumping and countervailing duties on TBR tire imports. Additionally, pursuant to Section 301: China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation, passenger, light truck and TBR tires, raw materials and tire-manufacturing equipment from the PRC imported into the U.S. became subject to additional 10 percent duties effective September 24, 2018. These tariffs increased to 25 percent effective May 10, 2019. The Company has incurred duties of $19 million in 2019 related to these Section 301 tariffs. In 2019, the Company recovered $20 million of duties through the Trade Facilitation and Trade Enforcement Act of 2015 ("TFTEA"). The Modernized Drawback Final Rule under the TFTEA allows the Company to recover duties paid on goods imported into the US when such goods, or similar items, are subsequently exported.
Content analysis ?
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Uncertain
Constraining
Legalese
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Readability
H.S. freshman Bad
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