NYSE: TWI
TITAN INTERNATIONAL INCCIK 0000899751 · Materials · SIC 3312 · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
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Titan International reports Q1 revenue up 2.9%, announces Tennessee plant closure
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TWI posts $24.3M Q1 loss on $25M restructuring charge; earthmoving sales jump 11% on demand recovery
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Latest financial statements
From 10-Q filed Jul 30, 2026 (period ending Jun 30, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q2 ended Jun 30, 2026 | Q1 ended Mar 31, 2026 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 484.8 | 505.1 |
| Cost of revenue / cost of sales | 409.8 | 433.6 |
| Gross profit | 74.9 | 71.4 |
| Operating expenses: | ||
| Research and development | 5.4 | 5.3 |
| Selling, general and administrative | 52.7 | 52.4 |
| Other operating expenses, net | 3.5 | 27.6 |
| Operating income | 13.3 | (13.8) |
| Interest expense | 10.0 | 9.9 |
| Other income/(expense), net | 0.5 | 0.9 |
| Income before income taxes | 6.3 | (19.6) |
| Income tax expense/(benefit) | — | 4.6 |
| Net income | 5.8 | (24.2) |
| Basic earnings per share | 0.09 | (0.38) |
| Diluted earnings per share | 0.09 | (0.38) |
Consolidated Balance Sheets (Unaudited)
| Description | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 179.8 | 171.3 |
| Accounts receivable, net | 317.2 | 338.5 |
| Inventories | 328.8 | 322.0 |
| Prepaid expenses and other current assets | 76.4 | 73.3 |
| Other current assets | 151.2 | 146.0 |
| Total current assets | 1,053 | 1,051 |
| Property, plant and equipment, net | 439.2 | 439.4 |
| Operating lease right-of-use assets, net | 99.2 | 101.9 |
| Finite-lived intangible assets, net | 10.3 | 10.6 |
| Goodwill | 29.6 | 29.6 |
| Deferred income taxes and other assets | 15.3 | 10.6 |
| Other long-term assets | 75.2 | 71.8 |
| TOTAL ASSETS | 1,722 | 1,715 |
| Current liabilities: | ||
| Current portion of long-term debt | 34.4 | 34.3 |
| Accounts payable | 294.3 | 278.0 |
| Current portion of operating lease liabilities | 14.7 | 14.8 |
| Accrued liabilities | 155.1 | 152.3 |
| Deferred revenue, current | 12.6 | 10.6 |
| Other current liabilities | (12.6) | (10.6) |
| Total current liabilities | 498.5 | 479.4 |
| Long-term debt | 558.9 | 578.3 |
| Operating lease liabilities | 105.9 | 107.9 |
| Deferred income taxes and other liabilities | 6.8 | 6.9 |
| Other long-term liabilities | 42.2 | 40.8 |
| Total liabilities | 1,212 | 1,213 |
| Shareholders' equity: | ||
| Common stock | — | — |
| Capital in excess of stated value | 737.1 | 736.8 |
| Accumulated other comprehensive income (loss) | (206.3) | (205.3) |
| Retained earnings (deficit) | 82.1 | 76.4 |
| Treasury stock | 111.6 | 113.0 |
| Total shareholders' equity | 501.3 | 494.9 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,722 | 1,715 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended Jun 30, 2026 | Q1 ended Mar 31, 2026 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | (7.4) | (46.5) |
| Investing Activities: | ||
| Net cash from investing activities | (25.0) | (13.1) |
| Financing Activities: | ||
| Net cash from financing activities | 6.8 | 26.2 |
| Net increase/(decrease) in cash | (23.1) | (31.6) |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗