Titan Q2 net sales $532M (+11% YoY), adj EPS $0.10, guides Q3 rev $450-500M

TITAN INTERNATIONAL INC

2024-Q2 EPS reported $0.16 revenue$1,014,379,000

Net sales $532.2M (up 11% YoY) driven by Carlstar acquisition; Ag segment fell 20%, Consumer tripled.
Adjusted EPS $0.10, adj EBITDA $49M; operating income $22.3M, down from $45.9M YoY on lower margins.
Free cash flow $53M; net debt reduced to $326M from $370M, net leverage 1.8x. Repurchased 775,000 shares in Q2.
Q3 guidance: revenue $450-500M, adj EBITDA $25-30M, free cash flow $20-30M, reflecting continued industry headwinds.
Carlstar acquisition contributed to consumer segment; company targets $5-6M synergy benefit in 2024 and $25-30M long-term.

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