Titan International, Inc. Reports Third Quarter Financial Results

Paul Reitz, President and Chief Executive Officer of Titan International

“Inclusive of ITM, which is reported in our Q3 financials as discontinued operations, our revenues for the quarter of $454 million were above the midpoint of our guidance while Adjusted EBITDA of $28 million was also within our guidance range.”

Paul Reitz, President and Chief Executive Officer of Titan International

“Our One Stop Shop strategy enabled us to deliver solid financial results despite current market conditions.”

Paul Reitz, President and Chief Executive Officer of Titan International

“Focusing on our reported results which exclude ITM from continuing operations, EMC sales grew 5% with improved margins during the quarter while Consumer segment sales were down 3% albeit versus an abnormally strong Q3 last year.”

Paul Reitz, President and Chief Executive Officer of Titan International

“Our Ag segment declined 12% as farmers remained on the sidelines due to high interest rates, diesel and fertilizer costs and other macro concerns that continue to impact overall economic activity.”

Paul Reitz, President and Chief Executive Officer of Titan International

“Toward the end of the quarter we announced an agreement to sell our ITM business.”

Paul Reitz, President and Chief Executive Officer of Titan International

“As we noted in that announcement, our Board of Directors believe that the sale of ITM empowers Titan to focus on growing our global wheel and tire businesses while also utilizing the proceeds to reduce our debt.”

Paul Reitz, President and Chief Executive Officer of Titan International

“ITM is a high-quality business but has limited synergies relative to our wheel and tire operations.”

Paul Reitz, President and Chief Executive Officer of Titan International

“As we continue to execute our strategic plan, we expect to energize our value creation by extending our leadership position in our wheel and tire businesses and intend to utilize proceeds from the transaction to support that strategy.”

Paul Reitz, President and Chief Executive Officer of Titan International

“We are progressing through the regulatory process and continue to expect the transaction to close in early January 2027.”

Paul Reitz, President and Chief Executive Officer of Titan International

“Macro uncertainty along with elevated interest rates, fuel and fertilizer costs continue to weigh on activity in our end markets, which has been the story throughout 2026.”

Paul Reitz, President and Chief Executive Officer of Titan International

“At the same time, we believe the building blocks for a resumption of growth are present.”

Paul Reitz, President and Chief Executive Officer of Titan International

“An aging machinery fleet continues to create pent-up replacement demand, while wheel and tire inventories across our distribution channels remain at relatively low levels.”

Paul Reitz, President and Chief Executive Officer of Titan International

“Although corn prices are down from recent highs in August, they are still above year-ago levels, as are soybean prices, which bode well for farmer incomes.”

Paul Reitz, President and Chief Executive Officer of Titan International

“I am confident that a resumption in end market demand will flow through to suppliers such as Titan rather quickly.”

Paul Reitz, President and Chief Executive Officer of Titan International

“We have also strengthened our strategic position with customers through innovative products and solutions, which we expect will support growth despite challenging market conditions.”

Tony Eheli, Chief Financial Officer of Titan International

“Inclusive of ITM operations, we are updating our fourth quarter and full-year guidance to reflect the effect of current market conditions.”

Tony Eheli, Chief Financial Officer of Titan International

“We currently expect fourth quarter sales of between $410 million and $430 million, and Adjusted EBITDA of between break even and $7 million.”

Tony Eheli, Chief Financial Officer of Titan International

“Our current expectations for FY 2026 are for sales between $1.85 and $1.87 billion and Adjusted EBITDA of between $91 million and $101 million.”