Quarterly ResultApr 30, 2026, 06:08 AM
TWI Q1 Net Loss $(24.2)M; Jackson Plant Closure & Restructuring
AI Summary
TITAN INTERNATIONAL INC (TWI) reported a net loss of $24.2 million, or $(0.38) per share, for Q1 2026, a significant decline from a near break-even in Q1 2025. This loss was primarily driven by $25.1 million in restructuring and impairment expenses related to the announced closure of its Jackson, Tennessee manufacturing facility by October 2026. Net sales increased by 2.9% to $505.1 million, but operating income turned into a loss due to the restructuring charges.
Key Highlights
- Announced closure of Jackson, Tennessee manufacturing facility by October 2026.
- Incurred $25.1M in restructuring and impairment expenses in Q1 2026.
- Q1 2026 net loss attributable to shareholders was $(24.2)M, or $(0.38) per share.
- Net sales for Q1 2026 increased 2.9% to $505.1M from $490.7M YoY.
- Operating income shifted to a loss of $(13.8)M in Q1 2026 from income of $11.8M YoY.
- Net cash used for operating activities increased to $(46.5)M from $(38.6)M YoY.
- Total debt increased to $612.6M at March 31, 2026, from $585.9M at Dec 31, 2025.
- Cash and cash equivalents decreased to $171.3M at March 31, 2026, from $202.9M at Dec 31, 2025.