Shares of Titan International, Inc. (NYSE:TWI) were little changed in after-hours trading on Thursday after the company reported first-quarter revenue that came in ahead of analyst expectations.
The company posted revenue of $505 million, exceeding the consensus estimate of $494.75 million and marking a 2.9% increase from $490.7 million in the same period last year.
Performance was led by the earthmoving and construction segment, where revenue rose 11.3% year-over-year to $159.5 million. The agricultural segment recorded a modest 0.3% increase to $198.3 million, while the consumer segment declined 1.6% to $147.2 million.
Gross margin edged up to 14.1%, compared with 14.0% a year earlier, supported by cost-cutting efforts and productivity improvements across the company’s global manufacturing footprint.
“Our Q1 2026 results were at the high end of our expectations as our team executed well against a macro backdrop that continued to be very dynamic,” said Paul Reitz, President and Chief Executive Officer. “Notwithstanding the geopolitical and tariff volatility, we had a strong quarter with revenues up nearly 3% with increased gross margin and adjusted EBITDA.”
Titan reported a net loss of $24.2 million, or -$0.38 per share, compared with a net loss of $0.6 million, or -$0.01 per share, in the prior-year quarter. The wider loss was primarily due to $25.1 million in restructuring and impairment charges linked to the closure of its Jackson, Tennessee facility. Adjusted EBITDA rose slightly to $31 million from $30.8 million a year earlier.
Looking ahead, the company expects second-quarter sales to range between $470 million and $490 million, with adjusted EBITDA projected at $25 million to $30 million. Titan maintained its full-year outlook, forecasting revenue of $1.85 billion to $1.95 billion and adjusted EBITDA between $105 million and $115 million.