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 · Earthmoving/Construction Segment
Earthmoving/Construction Segment
| (Amounts in thousands, except percentages) | Three months ended | ||
|---|---|---|---|
| March 31, | |||
| 2025 | 2024 | % Decrease | |
| Net sales | $143,290 | $165,208 | (13.3)% |
| Gross profit | 14,893 | 22,977 | (35.2)% |
| Profit margin | 10.4% | 13.9% | (25.2)% |
| Income from operations | 1,676 | 8,834 | (81.0)% |
The Company's earthmoving/construction segment net sales were $143.3 million for the three months ended March 31, 2025, as compared to $165.2 million in the comparable period in 2024. The change in earthmoving/construction sales was mainly due to reduced sales volume in the North Americas and Europe, a slowdown among construction OEM customers, and a 3.2% negative impact from foreign currency translation, primarily due to the weakening Brazilian real.
Gross profit in the earthmoving/construction segment was $14.9 million for the three months ended March 31, 2025, as compared to $23.0 million for the three months ended March 31, 2024. The change in gross profit was attributed to lower sales volume, reduced fixed cost leverage, and some inflationary costs that were absorbed by the operations.
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