TITAN INTERNATIONAL INC
For the period ended Apr 30, 2025. Filed Apr 30, 2025.
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Apr 30, 2025 · Filed Apr 30, 2025
Contents
EX-99 · Consumer Segment
Consumer Segment
| (Amounts in thousands, except percentages) | Three months ended | ||
|---|---|---|---|
| March 31, | |||
| 2025 | 2024 | % Increase | |
| Net sales | $149,672 | $77,328 | 93.6% |
| Gross profit | 29,264 | 13,774 | 112.5% |
| Profit margin | 19.6% | 17.8% | 10.1% |
| Income from operations | 8,807 | 5,113 | 72.2% |
Consumer segment net sales were $149.7 million for the three months ended March 31, 2025, as compared to $77.3 million for the three months ended March 31, 2024. This increase was mainly driven by the favorable effects of the Titan Specialty acquisition, although it was partially offset by lower sales volumes in the Americas due to challenging market conditions, particularly faced by OEM's, along with a 2.6% negative impact from foreign currency, primarily due to the weakening Brazilian real.
Gross profit from the consumer segment was $29.3 million for the three months ended March 31, 2025, as compared to $13.8 million for the three months ended March 31, 2024. The increases in gross profit and margin were aided by the Titan Specialty acquisition.
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