Solid Financial Performance
Titan's Q2 results were within guidance ranges for both revenue ($461 million) and adjusted EBITDA ($30 million), with positive free cash flow of $4 million.
Gross Margin Improvement
Sequential improvement in gross margins by 100 basis points from 14% in Q1, with Ag, EMC, and Consumer segments showing expansion.
Strategic Partnership in Brazil
Titan signed a minority investment and strategic partnership with Brazilian wheel manufacturer, Roderos, enhancing its position in the Brazilian market.
Positive Outlook for Consumer Segment
Expectations of a rebound in the consumer segment due to low channel inventories and positive trends observed in early Q3.
Proactive Growth Initiatives
Expansion of licensing agreement with Goodyear and ongoing investment in product development and strategic partnerships to drive growth.