Titan International, Inc. (DE) (TWI) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thanks and good morning. Our second quarter results reflect solid improvement from prior year. with revenues of $485 million and adjusted EBITDA of $34. Our diverse business model is an important part of Titan's ability. We talk about that frequently. It enables us to continue succeeding despite continuing difficult end-market conditions in the ag segment. Our one-stop shop product and distribution strategy, which is well executed by our experienced team, places our customers at the center of everything we do. It is really a key element of this business model that is diverse, that allows us to continue driving success through a range of different and challenging market conditions. In our earnings release, we highlighted the fact that each of our three reporting segments accounted for between 30% and 40% of revenues in the quarter. Within each segment, we also have further diversification, whether it be geographical, product, or end user profile. Now diving into our ag business, Farm incomes continue to be pressured with lower commodity prices and input costs such as fertilizer due to the ongoing conflict in Iran and along with that borrowing costs remain elevated. Those factors are weighing on OEM activity as farmers are hesitant to invest large sums of money in new equipment. For Titan, our ag aftermarket business and our global footprint continues to provide some offset to that OEM weakness. When you look within the tractor category, The differentiated end users, as higher horsepower units, as we all know, are used by the large row crop farmers, and they have been most impacted by this turbulent trade policy that has been ongoing. But when you look at the lower horsepower units, they serve a variety of uses around almost any farm, and they also are used quite exten...