---
schema_version: "secwatch.filing_event.v1"
accession: "0000899751-24-000013"
form_type: "8-K"
ticker: "TWI"
cik: "0000899751"
company_name: "TITAN INTERNATIONAL INC"
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T07:45:06.008321+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Titan Intl Q4 sales fall 23% YoY to $390M; posts record FCF $119M in FY23; acquires Carlstar Group at ~4x EBITDA

## Summary
- Q4 net sales of $390.2M, down 23.5% YoY from $509.8M; gross margin stable at 14.9%.
- FY 2023 free cash flow of $119M, a record; full-year gross margin up slightly to 16.8% from 16.5%.
- Acquired Carlstar Group LLC at ~4x 2023 adjusted EBITDA; deal structured with cash and stock, adding consumer and power sports exposure.
- No financial guidance provided for 2024 due to integration of Carlstar; management expects to provide later in the year.
- Each segment saw sales declines: Agricultural -29.9%, Earthmoving/Construction -18.7%, Consumer -1.6% in Q4.

## SEC filing metadata
- accession: 0000899751-24-000013
- form_type: 8-K
- ticker: TWI
- cik: 0000899751
- company_name: TITAN INTERNATIONAL INC
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/899751/000089975124000013/0000899751-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/899751/000089975124000013/twi-20240229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000899751-24-000013
- JSON: https://secwatch.observer/filing/0000899751-24-000013.json
- Plain text: https://secwatch.observer/filing/0000899751-24-000013.txt

## Key facts
- Earnings Releases
  TITAN INTERNATIONAL INC reported financial results for year ended December 31, 2023.
  - Period: year ended December 31, 2023
  - Result: reported results
  source text: Titan International, Inc. (NYSE: TWI) (“Titan” or the “Company”), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported results for the fourth quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/899751/000089975124000013/0000899751-24-000013-index.htm
- Earnings Releases
  TITAN INTERNATIONAL INC reported fourth quarter ended December 31, 2023 results: revenue $390.2 million.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $390.2 million
  - Result: reported results
  source text: Net sales for the fourth quarter ended December 31, 2023, were $390.2 million, compared to $509.8 million in the comparable quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/899751/000089975124000013/0000899751-24-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.