TITAN INTERNATIONAL INC
For the period ended Feb 26, 2025. Filed Feb 26, 2025.
View on SEC.govAbout this filing
A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Feb 26, 2025 · Filed Feb 26, 2025
Contents
EX-99 · Consumer Segment
Consumer Segment
| (Amounts in thousands) · Three months ended · Twelve months ended | ||||||
|---|---|---|---|---|---|---|
| December 31, | December 31, | |||||
| 2024 | 2023 | % Increase/(Decrease) | 2024 | 2023 | % Increase/(Decrease) | |
| Net sales | $110,129 | $38,529 | 185.8% | $473,966 | $153,505 | 208.8% |
| Gross profit | $19,944 | $8,203 | 143.1% | $90,990 | $32,133 | 183.2% |
| Profit margin | 18.1% | 21.3% | (15.0)% | 19.2% | 20.9% | (8.1)% |
| (Loss) income from operations | $(2,367) | $5,197 | (145.5)% | $20,477 | $22,380 | (8.5)% |
Net sales in the consumer segment were $110.1 million for the three months ended December 31, 2024, as compared to $38.5 million for the comparable period in 2023. This growth was primarily driven by increased sales volumes following the Carlstar acquisition and was partially offset by reduced sales in the Americas due to market conditions, along with a 4.6% negative impact from foreign currency translation, primarily related to the weakening Brazilian real.
Gross profit from the consumer segment was $19.9 million for the three months ending December 31, 2024, or 18.1% of net sales, as compared to $8.2 million, or 21.3% of net sales, for the comparable period in 2023. Gross profit and margin changes were primarily due to the impact of lower volumes in the Americas and loss of leverage on fixed costs.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.