TWI earnings analysis
What we found in TWI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Titan International reported Q1 2026 revenue of $505.1 million, up 2.9% year-over-year from $490.7 million. The company incurred a net loss of $24.3 million, translating to a loss per share of $0.38 compared to a net income of $0 million in Q1 2025. The quarterly results were impacted by significant restructuring charges of $25.1 million, overshadowing marginal gains in revenue and gross profit.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Despite Challenges
- Total revenue reached $505.1 million, increasing by 2.9% from $490.7 million in Q1 2025.
- Improved Gross Margin
- Gross profit rose to $71.4 million, resulting in a gross margin of 14.1%, slightly up from 14.0% in the prior year.
- Restructuring Expenses Impact Operating Loss
- Operating loss of $13.8 million included restructuring and impairment costs of $25.1 million.
- Positive Free Cash Flow
- Despite a net loss, free cash flow improved to $30 million, reflective of ongoing cash management.
- Improved FX Impact
- Currency translation contributed approximately 3.7% to sales growth due to stronger foreign currency dynamics.
- Increase in R&D Investment
- Research and development expenses grew 16.3% year-over-year to $5.3 million, reflecting ongoing innovation efforts.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Net Loss
- Net loss expanded to $24.3 million from break-even in Q1 2025, attributed largely to restructuring costs.
- Operational Restructuring
- Restructuring and impairment charges amounting to $25.1 million can signal operational inefficiencies.
- Weak Consumer Demand
- Lower sales volumes in key segments, notably consumer and agricultural, indicate potential ongoing demand challenges.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.38
- Gross margin
- 14.1%
- Segment
- Agricultural: $198.3M, Earthmoving/Construction: $159.5M, Consumer: $147.2M
What they said about what is next.
Management did not provide specific numeric guidance for future periods.
The filing reads worse than the one before it.
What came before.
- 10-K · February 26, 2026
- Titan’s 2025 10-K shows a broadly stable top line with Q4 revenue of $410.439 million (3.77% beat vs. consensus $395.540 million) and full-year revenue of $1,828.0 million (sum of reported quarters). Profitability and…
- 10-Q · July 31, 2025
- Titan reported Q2 net sales of $460,830,000, down $71,340,000 (-13.4%) versus Q2 2024 and down $29,878,000 sequentially from Q1 2025. Gross margin held at about 15.0% ($69,273,000 gross profit) while income from…
- 10-Q · April 30, 2025
- Titan reported Q1 2025 net sales of $490,708 (thousands), up from $482,209 in Q1 2024, but profitability weakened: diluted EPS was $(0.01) versus $0.14 a year ago and operating income fell to $11,799 from $25,072. The…
- 10-Q · July 31, 2024
- Titan reported Q2 net sales of $532,170,000 (up $50,994,000 or +10.6% vs. Q2 2023) but saw gross margin compress to 15.1% and operating income fall to $22,322,000, driving diluted EPS to $0.03. The quarter reflects the…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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