secwatch.observer — SEC 8-K summary
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Issuer:     TITAN INTERNATIONAL INC (TWI)
CIK:        0000899751
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0000899751-24-000084
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899751/000089975124000084/0000899751-24-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899751/000089975124000084/twi-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000899751-24-000084

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