$6.860
+0.020 (+0.29%)At close
TWI News
TWI Events
Titan International Trading Resumes
Titan International trading resumes
Titan International Trading Halted, News Pending
Titan International trading halted, news pending
Titan International Sells Italtractor ITM Business for Up to $285 Million
Titan International announced that it has entered into a definitive agreement to sell its Italtractor ITM undercarriage business to USCO S.p.A. Under the terms of the agreement, Titan will receive an initial purchase price of $207M, plus the opportunity to receive an additional $6M in earnout proceeds based on ITM's achievement of specified performance criteria for 2026. The transaction is also subject to customary adjustments based on ITM's specified net asset and financial position at closing, which Titan currently expects will provide approximately $23M of additional cash value. In connection with the transaction, Titan has received or expects to receive $49M in dividends from ITM, consisting of $38M received in recent years and $11M expected prior to closing. Taken together, these amounts are expected to provide Titan with up to approximately $285M in total cash value, including the potential earnout.
Company Reports Q2 Adjusted EBITDA of $34M
Reports Q2 adjusted EBITDA $34M. Paul Reitz, President and Chief Executive Officer, commented, "We were once again able to report solid results in the second quarter, with revenues toward the high end of our guidance range and Adjusted EBITDA that exceeded guidance. Consumer was our best-performing segment, with 27% growth versus the prior year period as our Titan Specialty business experienced solid end customer demand. Our EMC segment grew 1.4% in the quarter as construction end markets moderated from the stronger growth levels experienced in prior periods. Lower farm incomes and elevated financing costs continued to impact our Ag segment, leading to sales being down 5% in the quarter. Overall, we had a strong quarter with revenues up over 5%, higher gross margin and increased Adjusted EBITDA. Another highlight of the quarter was our free cash flow performance of $26 million, reflecting strong working capital improvement."
Company Maintains FY26 Adjusted EBITDA Guidance of $105M to $115M
Backs FY26 adjusted EBITDA view $105M-$115M. Tony Eheli, CFO added, "We currently expect second quarter sales to be between $470 million and $490 million with Adjusted EBITDA between $25 million and $30 million. We are also maintaining our previously communicated full year guidance of sales between $1.85 and $1.95 billion with Adjusted EBITDA between $105 million and $115 million."
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.