Titan International, Inc., a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, reported financial results for the third quarter ended September 30, 2025.
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.”
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