UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended: September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12936 TITAN INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 1525 Kautz ...

Financial Data and Key Metrics Changes - In Q2 2023, the company reported net sales of $481 million, with net income of $32 million, GAAP EPS of $0.48, and adjusted EPS of $0.43, alongside adjusted EBITDA of $59 million [20][21] - Free cash flow for the quarter was $49 million, contributing to a cash balance of $196 million, marking the highest first-half free cash flow in over a decade [5][20] - The company reduced net debt from $433 million at the end of 2019 to $234 million as of Q2 2023, demonstrating significant balance sheet improvement [7][11] Business Line Data and Key Metrics Changes - Agricultural segment net sales decreased to $269 million from $319 million year-over-year, primarily due to lower sales volume and elevated inventory levels [21][22] - Earthmoving and Construction (EMC) segment net sales fell by 17% to $175 million, attributed to lower volume in the Americas, particularly Brazil, while sales in Europe remained steady [22] - Consumer segment net sales were $37 million, down 15% from the previous year, mainly due to reduced demand for light utility truck tires in Latin America [23] Market Data and Key Metrics Changes - Demand in the North American large Ag segment remains strong, supported by solid farmer income and low grain stocks, while small Ag volumes have decreased due to interest rates and consumer behavior [11][12] - The European Ag market has shown steady performance with volume growth, while short-term demand in Brazil has slipped due to political uncertainty and inventory destocking [12][15] - Construction demand is supported by solid infrastructure activity, although Brazil's construction sales have slowed, reflecting local market issues [12][15] Company Strategy and Development Direction - The company has executed a strategic plan focused on product development, divestiture of underperforming units, and improving profitability through operational efficiency [6][9] - A multi-year strategic plan is being developed to enhance future growth and plant improvements, leveraging the strengthened balance sheet [8][11] - Innovation remains a core strength, with ongoing investments in product development and market-leading products [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong year for 2023, despite challenges related to inventory levels and production adjustments [11][18] - The macro environment for large Ag is positive, with expectations for demand to align with retail levels in 2024 as inventory issues are resolved [15][17] - The company anticipates revenue for 2023 to be between $1.85 billion and $1.9 billion, with adjusted EBITDA of $200 million to $210 million [17][30] Other Important Information - The company recorded $3 million in indirect tax credits during Q2, contributing to strong cash flow [20] - Capital expenditures for Q2 2023 were approximately $16 million, supporting ongoing capital programs [25] - The company plans to continue share repurchases opportunistically, believing the stock does not fully reflect its transformation [25] Q&A Session Summary Question: Clarification on destocking issues - Management clarified that the destocking issue is primarily related to the agricultural sector, with some impact on EMC, particularly in Brazil [32][35] Question: Expectations for EMC recovery - Management indicated that EMC trends are expected to follow similar patterns as Ag, with seasonality affecting performance [36][37] Question: Handling customer demand and inventory - Management noted that customers are eager to resolve inventory issues by the end of 2023, aiming to align production with retail demand [38][39] Question: Stock buyback evaluation criteria - Management stated that stock buybacks will be opportunistic, focusing on price weakness without fundamental reasons [40] Question: ERP implementation impact on working capital - Management expressed confidence that the ERP system will enhance working capital management and operational efficiency [43][45] Question: Competitive dynamics in the market - Management observed that the current market stability has led to rational behavior among competitors, avoiding drastic capacity expansions [47][48] Question: Sales and EBITDA cadence in the second half - Management indicated typical seasonality effects in Q3 and Q4, with destocking expected to be more prevalent in Q3 [49][50]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Delaware ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) For the Quarterly Period Ended: June 30, 2023 1525 Kautz Road, Suite 600, West Chicago, IL (Address of principal executive offices) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12936 TITAN INTER ...

Titan International, Inc. (NYSE:TWI) Q1 2023 Results Conference Call May 4, 2023 9:00 AM ET Company Participants Alan Snyder - Vice President, Financial Planning and Analysis Paul Reitz - President and Chief Executive Officer David Martin - Senior Vice President and Chief Financial Officer Conference Call Participants Steve Ferazani - Sidoti & Company Kirk Ludtke - Imperial Capital Larry De Maria - William Blair Operator Good morning, ladies and gentlemen, and welcome to the Titan International, Inc., First ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended: March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12936 TITAN INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 1525 Kautz Road ...

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Commission file number 1-12936 TITAN INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) | Delaware | 36-3228472 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | 1525 Kautz Road, Suite 600, West Chicago, IL 60185 | (630) 377-0486 | | (Address of principal executive offices) | (Registrant's telephone number, including area code) | | Securities registered pursuant to Section 12(b) of the Act: | | UNITED STATES SE ...

Titan International, Inc. (NYSE:TWI) Q3 2022 Results Conference Call November 8, 2022 9:00 AM ET Company Participants Todd Shoot - Senior Vice President, Investor Relations and Treasurer Paul Reitz - President and CEO David Martin - Senior Vice President and CFO Conference Call Participants Steve Ferazani - Sidoti Kirk Ludtke - Imperial Capital Operator Good morning, ladies and gentlemen. And welcome to the Titan International Incorporated Third Quarter 2022 Earnings Conference Call. At this time, all parti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended: September 30, 2022 or 60185 (Zip Code) (217) 228-6011 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12936 TITAN INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporat ...

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