Quarterly ResultApr 30, 2026, 06:08 AM
TWI Q1 Revenue +2.9% to $505M; Jackson Plant Closure Announced
AI Summary
Titan International, Inc. (TWI) reported first-quarter 2026 financial results, with revenues increasing 2.9% to $505.1 million and Adjusted EBITDA rising to $31.4 million. The company also announced the closure of its Jackson, Tennessee plant, expected by the end of October, incurring $2 million in restructuring and $23 million in non-cash impairment expenses. This strategic move aims to streamline manufacturing and improve capacity utilization, despite leading to a Q1 loss from operations. TWI provided Q2 sales guidance of $470-$490 million and maintained full-year guidance.
Key Highlights
- Announced closure of Jackson, Tennessee plant by end of October for long-term synergies.
- Q1 2026 revenues increased 2.9% to $505.1 million.
- Q1 2026 Adjusted EBITDA rose to $31.4 million.
- Q1 2026 gross margin improved to 14.1%.
- Earthmoving/Construction segment sales grew 11.3% to $159.5 million.
- Incurred $2 million in restructuring and $23 million in non-cash impairment expenses related to plant closure.
- Forecasts Q2 sales between $470 million and $490 million.
- Maintained full-year sales guidance of $1.85-$1.95 billion.