Titan International reports Q1 adjusted EPS 1c, consensus 5c

Reports Q1 revenue $490.7M, consensus $464.25M. CEO Paul Reitz stated, “There are no other manufacturers in our industry with the domestic production capabilities of Titan. This means that tariffs applied consistently across the globe should benefit us because many of our competitors have significantly greater exposure to tariffs due to their higher dependence on overseas production. With the breadth of our product portfolio combined with our global platform, we are nimble and the best suited in our industry to meet our customers’ long-term needs in a dynamic market landscape. We are actively assessing the evolving situation and will make timely decisions on supply chain and production plans that are the result of data driven analysis and our evaluation of longer-term trade policy. Our revenues of $491M and Adjusted EBITDA of $31M were both at the higher end of our guidance range. That success was well-earned against the backdrop of continued OEM destocking of finished goods across all three of our primary end markets. Our aftermarket business continues to perform better than our OEM-pointed operations and is an integral part of our One Stop Shop strategy.”