Titan International, Inc. reported first-quarter 2026 net sales of $505.1 million, up modestly from $490.7 million a year earlier, as stronger earthmoving/construction demand and favorable foreign currency offset softer volumes in agriculture and consumer products.
Despite slightly higher sales and a stable gross margin of about 14%, Titan posted an operating loss of $13.8 million and a net loss of $24.3 million, largely driven by $25.1 million of restructuring and impairment charges tied to the planned closure of its Jackson, Tennessee manufacturing facility.
Cash from operations was a use of $46.5 million, mainly due to seasonal working capital needs and higher receivables, while cash ended at $171.3 million. Total debt stood at $614.3 million, including $400 million of 7.00% senior secured notes, with additional liquidity available under the revolving credit facility.
Titan International, Inc. is holding a virtual Annual Meeting of Stockholders on June 18, 2026, at 12:00 p.m. CDT. Stockholders of record as of April 22, 2026, may vote.
The company asks investors to elect seven directors for one-year terms, ratify BDO USA P.C. as independent auditor for 2026, and approve, on a non-binding advisory basis, 2025 compensation for named executive officers.
Titan highlights 2025 sales of $1.8 billion, a 13.9% gross margin, and $102 million of Adjusted EBITDA, noting improved margins versus 2020 despite a cyclical downturn. Governance features include annual director elections, proxy access, no supermajority voting, and the separation of Chairman and CEO roles.
TITAN INTERNATIONAL INC disclosed that AIPCT Intermediate Holdings I LLC, a ten percent owner, executed an open-market sale of 3,041,288 shares of common stock at $8.95 per share. After this transaction, Intermediate held 8,880,478 shares indirectly.
The filing is made jointly by several affiliated investment entities that together are treated as the reporting persons. The footnotes explain that any voting or sale decisions for these shares require a unanimous vote of the three directors of AIPCF V (Cayman), Ltd., and those directors disclaim beneficial ownership except for any pecuniary interest. The reporting persons also explicitly disclaim forming a group beyond their stated economic interests.
The Vanguard Group filed Amendment No. 5 to a Schedule 13G/A reporting zero beneficial ownership of Titan International Inc. common stock. The filing states that, following an internal realignment effective January 12, 2026 and in reliance on SEC Release No. 34-39538, certain Vanguard subsidiaries now report holdings separately and The Vanguard Group no longer is deemed to beneficially own those securities. The amendment lists 0 shares and 0% ownership and is signed by Ashley Grim, Head of Global Fund Administration, dated 03/27/2026.
Titan International President & CEO Paul G. Reitz reported a routine share disposition related to taxes, not an open‑market trade. The company withheld 13,305 shares of common stock at $7.74 per share to cover tax obligations from vesting restricted stock. After this withholding, Reitz directly holds 537,658 common shares, including 160,001 restricted shares scheduled to vest between March 2027 and March 2029.
Titan International senior vice president and chief technology officer David A. Martin reported a routine tax-related share disposition. The company withheld 6,226 shares of common stock at $7.74 per share to cover tax obligations from vesting restricted stock. After this withholding, Martin directly holds 307,188 shares, including 85,000 restricted shares scheduled to vest in tranches through 2029.
Titan International SVP and CFO Anthony Eheli reported a routine tax-withholding share disposition. On this Form 4, 2,821 shares of common stock were withheld by the company at $7.74 per share to cover tax obligations tied to the vesting of restricted stock, not an open-market sale.
After this withholding, Eheli directly holds 76,424 shares of Titan International common stock. This includes 62,501 shares of restricted stock scheduled to vest in tranches on March 10 of 2027, 2028 and 2029, indicating a substantial ongoing equity stake.
Titan International Vice President and Chief Accounting Officer James M. Pach reported a routine tax-related share disposition. The company withheld 1,111 shares of common stock at $7.74 per share to satisfy tax obligations tied to vesting restricted stock. After this withholding, Pach directly holds 29,819 common shares. Footnotes state that his holdings include 26,000 restricted shares scheduled to vest in tranches on March 10, 2027, March 10, 2028, and March 10, 2029, indicating a continuing long-term equity position.
Titan International President & CEO Paul G. Reitz reported routine equity compensation and related tax withholding. He received a grant of 80,000 shares of common stock on March 10, 2026 at a stated price of $0.00 per share, increasing his direct holdings.
To cover tax obligations tied to restricted stock vesting, 23,654 shares were withheld by the company at $8.54 per share, a non-market disposition. After these transactions, he directly holds 550,963 shares, including 190,001 shares of restricted stock scheduled to vest 30,000 on March 14, 2026, 80,000 on March 10, 2027, 53,334 on March 10, 2028, and 26,667 on March 10, 2029.