Titan International(TWI) Prnewswire·2025-02-26 22:00Core Insights - Titan International, Inc. reported a decrease in net sales for Q4 2024, totaling 390.2 million in Q4 2023, primarily due to declines in agricultural and earthmoving/construction segments, alongside a 4.3% unfavorable currency translation impact [4][5][6] - The company anticipates a return to growth in 2025, supported by improved net farm income and the success of its 'One-Stop Shop' strategy in the aftermarket [2][3] Financial Performance - Gross profit for Q4 2024 was 58.3 million in Q4 2023, resulting in a gross margin of 10.7% compared to 14.9% in the prior year [5][26] - Selling, general, and administrative expenses (SG&A) increased to 35.2 million in Q4 2023, largely due to costs associated with the Carlstar acquisition [6][26] - The company reported a loss from operations of 20.7 million in Q4 2023 [7][26] Segment Performance - Agricultural segment net sales decreased by 18.4% to 14.3 million [9][10] - Earthmoving/construction segment net sales fell by 26.9% to 6.9 million [11][12] - Consumer segment net sales surged by 185.8% to 196.0 million, down from 553.0 million from 37.9 million year-over-year, primarily due to lower net income, though effective working capital management partially offset this decline [19][20] Outlook - For Q1 2025, Titan expects sales between 500 million, with Adjusted EBITDA projected between 35 million [3] - The company anticipates a higher proportion of revenue generation in the second half of 2025, as larger OEMs are expected to complete destocking in the first half [3]