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Get filing alertsTitan International reports Q1 revenue up 2.9%, announces Tennessee plant closure
Filed April 30, 2026 · Period ending April 30, 2026 · ~1 min read
Key Changes
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Q1 2026 revenue grew 2.9% to $505M with gross margin improving to 14.1% and adjusted EBITDA of $31M, driven by favorable FX and pricing offset by lower ag/consumer volumes.
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Company closing Jackson, TN plant by October 2026 to rationalize capacity post-Carlstar acquisition; recorded $2M restructuring and $23M non-cash impairment charges in Q1, expects cash benefits in 2027.
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Q2 2026 guidance of $470-490M sales and $25-30M adjusted EBITDA implies sequential decline; full-year guidance maintained at $1.85-1.95B sales and $105-115M adjusted EBITDA.
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Net debt increased $58.3M to $441.3M from year-end 2025, driven by $46.5M cash used in operations for working capital needs; cash declined to $171.3M from $202.9M.
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Earthmoving/construction segment led with 11.3% revenue growth and 90bp margin improvement to 11.3%; ag grew modestly while consumer declined 1.6%.
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Summary
Titan International reported first quarter 2026 results showing modest top-line growth of 2.9% to $505 million, with improved profitability metrics including 14.1% gross margin and $31 million in adjusted EBITDA.
The revenue gain came primarily from favorable foreign currency translation (approximately 3.7% contribution) and pricing, while volumes declined in agricultural and consumer segments due to challenging market conditions including tariff uncertainty and higher interest rates. The earthmoving/construction segment was the standout performer with 11.3% growth and margin expansion.
The company announced a significant restructuring action: closing its Jackson, Tennessee manufacturing facility by October 2026 as part of capacity rationalization following the Carlstar acquisition. This resulted in $25 million in charges ($2 million cash restructuring, $23 million non-cash impairment) in the quarter, with management expecting cash benefits beginning in 2027 from improved capacity utilization and cost reduction. The balance sheet showed increased leverage, with net debt rising $58.3 million to $441.3 million, driven by working capital consumption of $46.5 million in operating cash flow. Management maintained full-year 2026 guidance of $1.85-1.95 billion in sales and $105-115 million adjusted EBITDA, but Q2 guidance of $470-490 million sales implies a sequential decline from Q1 levels, reflecting continued market volatility and customer inventory management. The plant closure positions the company for improved profitability once restructuring costs are absorbed, though near-term earnings will carry the burden of the charges and softer demand in key end markets.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Titan International disclosed Q1 2026 financial results via press release.
Added in current filing · verify on EDGAR →
On April 30, 2026, Titan International, Inc. issued a press release reporting its first quarter 2026 financial results.
The company announced its first quarter 2026 financial results through a press release. The 8-K body does not contain the actual financial figures; those are in the attached Exhibit 99 press release, which was not provided in the input text.
Event · Exhibit 99
Titan reported Q1 2026 earnings with 2.9% revenue growth, announced Jackson, TN plant closure, and maintained full-year guidance.
Added in current filing · view on EDGAR →
Revenues grew 2.9% to $505 million
•Gross margin improved to 14.1%
•Adjusted EBITDA increased to $31 million
Titan reported first quarter 2026 revenues of $505 million, up 2.9% from the prior year period, with gross margin improving to 14.1% and adjusted EBITDA of $31 million. The revenue growth was driven by foreign currency translation (approximately 3.7% contribution) and favorable pricing, partially offset by lower sales volumes in consumer and agricultural segments due to challenging market conditions.
Added in current filing · view on EDGAR →
EMC was our best-performing segment, with growth over 11% versus the prior year period. Gross margin in the segment improved 90 basis points to 11.3% as top-line growth allowed for improved fixed cost leverage. Our Ag segment also recorded modest growth while Consumer fell by only 1.6%.
The earthmoving/construction (EMC) segment led performance with 11.3% revenue growth and gross margin improvement of 90 basis points to 11.3%, driven by higher sales volumes and improved fixed cost leverage. The agricultural segment grew modestly (0.3%), while the consumer segment declined 1.6% due to volatile market conditions related to tariffs and higher interest rates.
Added in current filing · view on EDGAR →
The Company ended the first quarter of 2026 with total cash and cash equivalents of $171.3 million, compared to $202.9 million at December 31, 2025. Long-term debt at March 31, 2026, was $578.3 million, compared to $564.7 million at December 31, 2025. Short-term debt was $34.3 million at March 31, 2026, compared to $21.2 million at December 31, 2025. Net debt (total debt less cash and cash equivalents) was $441.3 million at March 31, 2026, compared to $383.0 million at December 31, 2025.
Titan's cash position decreased to $171.3 million from $202.9 million at year-end 2025, while total debt increased to $612.6 million from $585.9 million, resulting in net debt of $441.3 million versus $383.0 million at December 31, 2025. The increase in net debt of $58.3 million was primarily driven by working capital needs, with cash used for operating activities of $46.5 million in the quarter.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 23, 2026 · How we verify