Titan International, Inc. Reports Third Quarter Financial Results

Rhea-AI Summary

Titan International (NYSE: TWI) reported Q3 2025 results with revenues up 4% to $466 million, gross margin of 15.2%, Adjusted EBITDA of $30 million and free cash flow of $30 million.

Management cited revenue growth in Ag and EMC segments, improved Consumer margins despite lower volumes due to tariffs, declining inventory levels that are prompting incremental customer orders, and reduced net debt. Outlook for Q4 2025 expects sales $385–$410 million and Adjusted EBITDA ~ $10 million, with seasonal volume uptick anticipated in Q1 2026.

Positive

• Revenue +4% to $466 million in Q3 2025
• Adjusted EBITDA $30M with strong free cash flow of $30M
• Gross margin 15.2%, improved across Ag and EMC segments
• Inventory declines driving incremental customer ordering

Negative

• Q4 2025 EBITDA forecast ~ $10M, down from Q3 $30M
• Consumer revenues marginally lower due to tariffs
• Guidance implies Q4 sales decline versus Q3 ($385–$410M vs $466M)

WEST CHICAGO, Ill., Nov. 6, 2025 /PRNewswire/ -- Titan International, Inc. (NYSE: TWI) ("Titan" or the "Company"), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported financial results for the third quarter ended September 30, 2025. The full earnings release including a reconciliation of GAAP to Non-GAAP figures can be found in the investor relations section of the Company's website at https://ir.titan-intl.com/news-and-events/news-releases/default.aspx.

Q3 2025 Key Figures

• Revenues grew 4% to $466 million
• Gross margin improved to 15.2%
• Adjusted EBITDA increased to $30 million
• Free cash flow of $30 million

Paul Reitz, President and Chief Executive Officer, commented, "Our Q3 2025 results were at the high end of our expectations as the strength of our One Titan Team combined with the diversity of our operations to deliver solid financial performance.   Our Ag and EMC segments each reported revenue growth compared with the prior year period along with expanded gross margins.  We also improved gross margins in our Consumer segment despite marginally lower revenues due to tariffs continuing to have some dampening effect on new equipment demand.  As our customers and end users begin looking towards 2026, more long-term trade deals, more static tariff rates and further interest rate relief stand as key catalysts for our business.  We are encouraged by the latest trade negotiation developments and the potential for substantial grain purchases by China in the future, which will be significant for US farmers.  It is important to remind everyone that Titan has unparalleled domestic capability with tires and wheels to serve OE and aftermarket customers in the farm and construction markets."

Mr. Reitz continued, "We continue to demonstrate focus on what we do best in serving our customers well with a strong product portfolio while reinforcing our competitive positioning as those efforts underpin solid performance through the cycle.  As global trade continues to be reordered, with a particular emphasis on reshoring manufacturing to the U.S., we are confident in our ability to benefit from an eventual resumption of OEM - based demand given Titan's position as the leading U.S. manufacturer across many of our product lines.  Again, emphasizing the diversity of our model, aftermarket sales continue to be less cyclical, providing an important offset to OEM channel softness.  Among the highlights from our third quarter, we continued to generate gross and EBITDA margins meaningfully above where they were during the last cyclical trough, allowing Titan to deliver Adjusted EBITDA at the high end of our guidance with accompanying strong free cash flow which allowed us to reduce our net debt.  Overall wheel and tire inventories across our segments are decreasing which is driving incremental ordering at certain customers and gives us confidence that broad-based demand will improve in due course." 

Company Outlook

David Martin, Chief Financial Officer added, "We expect this quarter's results to demonstrate moderate improvement from last year's fourth quarter with sales to be between $385 million and $410 million and Adjusted EBITDA of around $10 million and at the same time we are preparing for the calendar to turn and the seasonal volume uptick in Q1 2026."

About Titan

Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products.  Headquartered in West Chicago, Illinois, the Company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.

Safe Harbor Statement

This press release contains forward-looking statements. These forward-looking statements are covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "plan," "would," "could," "potential," "may," "will," and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, these assumptions are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond Titan International, Inc.'s control. As a result, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results and trends to differ materially from those made, projected, or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to, the effect of a recession on the Company and its customers and suppliers; changes in the Company's end-user markets into which the Company sells its products as a result of domestic and world economic or regulatory influences or otherwise; changes in the marketplace, including new products and pricing changes by the Company's competitors; the Company's ability to maintain satisfactory labor relations; unfavorable outcomes of legal proceedings; the Company's ability to comply with current or future regulations applicable to the Company's business and the industry in which it competes or any actions taken or orders issued by regulatory authorities; availability and price of raw materials; levels of operating efficiencies; the effects of the Company's indebtedness and its compliance with the terms thereof; changes in the interest rate environment and their effects on the Company's outstanding indebtedness; unfavorable product liability and warranty claims; actions of domestic and foreign governments, including the imposition of additional tariffs; geopolitical and economic uncertainties relating to the countries in which the Company operates or does business; risks associated with acquisitions, including difficulty in integrating operations and personnel, disruption of ongoing business, and increased expenses; results of investments; the effects of potential processes to explore various strategic transactions, including potential dispositions; fluctuations in currency translations; risks associated with environmental laws and regulations; risks relating to our manufacturing facilities, including that any of our material facilities may become inoperable; risks relating to financial reporting, internal controls, tax accounting, and information systems; and the other risks and factors detailed in the Company's periodic reports filed with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those reports. These forward-looking statements are made only as of the date hereof. The Company cautions that any forward-looking statements included in this press release are subject to a number of risks and uncertainties, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason, except as required by law.

 

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SOURCE Titan International, Inc.

FAQ

What were Titan (TWI) Q3 2025 revenues and margins?

Titan reported $466 million in Q3 2025 revenue and a 15.2% gross margin.

How much Adjusted EBITDA and free cash flow did Titan (TWI) generate in Q3 2025?

Titan generated $30 million of Adjusted EBITDA and $30 million of free cash flow in Q3 2025.

What guidance did Titan (TWI) give for Q4 2025 sales and EBITDA?

Titan expects Q4 2025 sales of $385–$410 million and Adjusted EBITDA around $10 million.

Which Titan segments showed revenue growth in Q3 2025?

Management reported revenue growth in the Agricultural (Ag) and Earthmoving/Construction (EMC) segments.

How are tariffs affecting Titan (TWI) results in Q3 2025?

Tariffs were cited as dampening new equipment demand, contributing to marginally lower Consumer revenues.

Did Titan (TWI) report any cash or balance sheet improvements in Q3 2025?

Titan reported $30 million free cash flow in Q3 and said it reduced net debt during the quarter.