Titan (TWI) Q3 2026 Earnings Call Transcript

Titan (TWI) reported third-quarter 2026 results showing a downturn across key areas, alongside continued segment performance and cash-flow improvement. Net sales from continuing operations fell 6.2% to $335.2 million, driven by lower volumes amid weaker end-market demand. Net sales including discontinued operations rose to $454 million, above the guidance midpoint. Adjusted EBITDA from continuing operations dropped to $16.4 million from $20.3 million, largely due to lower sales and reduced fixed-cost leverage, while the inclusive figure of $28.2 million stayed within guidance but was affected by delayed receipt of certain tariffs. Agricultural segment sales declined 11.7% to $156.9 million, and gross margin fell to 7.6%. Consumer segment sales slipped to $120.9 million, but margins rose to 27.6% after $3.5 million in net tariff refunds. Free cash flow from continuing operations more than doubled to $23.3 million. For Q4, revenue guidance is $410 million to $430 million and adjusted EBITDA guidance ranges from breakeven to $7 million, inclusive of ITM.