secwatch.observer — SEC 8-K summary
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Issuer:     TITAN INTERNATIONAL INC (TWI)
CIK:        0000899751
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000899751-24-000058
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Titan Q1 revenue $482M, adj. EPS $0.29; Q2 guidance $525-575M; Carlstar integration on track
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- Q1 net sales $482.2M down 12% YoY; gross profit $77.4M (16.0%); adjusted gross margin 16.7% (excl. $3.4M inventory step-up).
- Adjusted EPS $0.29; adjusted EBITDA $50M; net debt $370M; $15M remaining under $50M share buyback authorization.
- Ag segment sales $239.7M (-21.6%); Earthmoving/Construction $165.2M (-16.9%); Consumer $77.3M (+76.3%) from Carlstar.
- Q2 guidance: revenue $525-575M, adj. EBITDA $45-55M, FCF $30-40M, capex $15-20M. No full-year guidance due to macro uncertainty.
- Carlstar acquisition closed Feb 29, contributed ~1 month; expected synergies $5-6M in 2024, $25-30M long-term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899751/000089975124000058/0000899751-24-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899751/000089975124000058/twi-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000899751-24-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer