Titan Intl Stock Price, News & Analysis

Titan International, Inc. (NYSE: TWI) has repurchased 8.0 million shares of common stock from MHR Fund Management for $57.6 million ($7.20 per share) in cash. This represents 11% of outstanding shares. The company's balance sheet remains healthy with approximately $225 million in cash and a current net debt to EBITDA ratio of 1.9 times.

CEO Paul Reitz stated that the Board of Directors and management team believe in Titan's strong long-term prospects. The transaction was funded using a combination of the company's revolving credit facility and available cash. Chairman Maurice Taylor, Jr. expressed optimism about Titan's future, highlighting the company's leadership in wheels and tires for farming and potential opportunities with the US Army.

Titan International Inc. (NYSE: TWI) and its recently acquired Carlstar Group are launching their Variable Pressure Operation (VPO™) Technology at Equip Exposition 2024 in Louisville, Kentucky. VPO offers a flat-proof alternative to tweel wheels, allowing machinery to operate at various inflation pressures, even down to zero psi.

Key features of VPO Technology include:

• Shock-absorbing properties for enhanced operator comfort
• Flat-proof design for increased durability
• Closed sidewall to prevent debris-related issues
• Exceptional reliability, with tires running hundreds of miles at zero pressure
• Versatility for various applications without tire changes

The technology is paired with the new Invictus tread pattern, offering balanced traction, self-cleaning capabilities, and improved heat dissipation. Originally developed for military use, VPO Technology has been adapted for consumer applications after extensive testing with Polaris.

Titan International, Inc. (NYSE: TWI), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, will release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024. This will be followed by a teleconference and webcast on Thursday, October 31, 2024, at 9:00 a.m. Eastern Time.

Investors can access the live webcast through the company's website or participate in the teleconference using provided dial-in numbers. A replay of the teleconference will be available on Titan's website after the event. Titan International, headquartered in West Chicago, Illinois, serves OEMs and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets globally.

Titan International (NYSE: TWI) reported strong Q2 2024 financial results despite industry challenges. The company posted free cash flow of $53 million, adjusted EBITDA of $49 million, and adjusted EPS of $0.10. Titan's net sales increased to $532.2 million from $481.2 million in Q2 2023, driven by the Carlstar acquisition. However, net income and gross profit were negatively impacted by higher material costs and reduced fixed cost leverage.

Net sales in the agricultural segment fell 19.6% YoY to $216.3 million, while the earthmoving/construction segment saw a 5.2% decline to $165.6 million. Conversely, the consumer segment surged 302.4% YoY to $150.3 million. Titan's net debt decreased by $43 million, and the company continued to repurchase shares. The Q3 2024 outlook projects revenues between $450 million and $500 million, with adjusted EBITDA ranging from $25 million to $30 million.

Titan International will release its Q2 2024 financial results on July 31, 2024, after market close. A teleconference and webcast will follow on August 1 at 9:00 a.m. ET. The webcast will be available at https://events.q4inc.com/attendee/651060873 and on Titan's website under 'Investor Relations' > 'News & Events.'

For real-time teleconference participation, use the toll-free number 1 833 470 1428 (US) or the global numbers provided, with access code 548553. A replay will be accessible via 1 866 813 9403 with access code 676364. Titan International manufactures off-highway wheels, tires, and undercarriage products and serves OEMs and aftermarket customers globally.

Titan International (NYSE: TWI) announced its participation in the Wells Fargo Industrials Conference in Chicago, IL. CEO Paul Reitz will be involved in a fireside chat and one-on-one investor meetings on June 11, 2024, at 4:45 PM ET. The event will be live-streamed, with a replay available on Titan's Investor Relations website. As a global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, Titan serves OEM and aftermarket customers across agricultural, earthmoving/construction, and consumer markets. For more details, visit www.titan-intl.com.

Titan International (NYSE: TWI) announced that its board of directors plans to discuss with its largest shareholder, American Industrial Partners (AIP), a potential amendment to their Stockholder Agreement. This amendment would allow AIP to increase its ownership of TWI common stock through open market purchases. AIP currently owns approximately 16.4% of TWI's outstanding shares, acquired through TWI's purchase of Carlstar Group in February 2024.

The Stockholder Agreement includes a standstill agreement, a voting agreement requiring AIP to follow the board's recommendations until the 2025 shareholders meeting, and a lock-up agreement restricting the disposal of TWI stock for a certain period. Maurice N. Taylor Jr., Chairman of TWI's Board, emphasized the board's commitment to growing shareholder value and expressed appreciation for AIP's support.

Titan International, Inc. reported strong financial performance in Q1 2024, with adjusted EBITDA of $50 million and adjusted EPS of $0.29. The integration of Carlstar Group enhances Titan's 'One Stop Shop' positioning in Ag and Consumer segments for long-term growth. Despite challenging market conditions, Titan remains optimistic about its future earnings power and free cash flow, with a focus on building shareholder value.