TITAN INTERNATIONAL INC
For the period ended Jul 31, 2025. Filed Jul 31, 2025.
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Jul 31, 2025 · Filed Jul 31, 2025
Contents
EX-99 · Earthmoving/Construction Segment
Earthmoving/Construction Segment
| (Amounts in thousands, except percentages) · Three months ended · Six months ended | ||||||
|---|---|---|---|---|---|---|
| June 30, | June 30, | |||||
| 2025 | 2024 | % Decrease | 2025 | 2024 | % Decrease | |
| Net sales | $152,347 | $165,564 | (8.0)% | $295,637 | $330,772 | (10.6)% |
| Gross profit | 17,474 | 21,299 | (18.0)% | 32,367 | 44,276 | (26.9)% |
| Profit margin | 11.5% | 12.9% | (10.9)% | 10.9% | 13.4% | (18.7)% |
| Income from operations | 2,994 | 7,047 | (57.5)% | 4,670 | 15,881 | (70.6)% |
The Company's earthmoving/construction segment net sales were $152.3 million for the three months ended June 30, 2025, as compared to $165.6 million in the comparable period in 2024. The change was primarily due to lower sales volumes in North America and the undercarriage business, reflecting a slowdown in demand from construction OEM customers. This was partially offset by a 1.1% favorable foreign currency translation impact, primarily driven by the strengthening euro, and positive price and product mix.
Gross profit in the earthmoving/construction segment was $17.5 million for the three months ended June 30, 2025, as compared to $21.3 million for the three months ended June 30, 2024. The change in gross profit was mainly attributable to lower volumes and reduced fixed cost leverage.
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