The company reported a loss of $42.7 million, or 66 cents a share, a significant expansion from the $2.3 million loss recorded during the same period last year. Revenue fell to $335.2 million, missing analyst expectations by more than $100 million. The agricultural segment bore the brunt of this slowdown, with sales tumbling 12% to $156.9 million.
In section Market Quotes
Titan International Shares Plunge on Weak Farm Equipment Demand
A 25% premarket drop greeted Titan International shares as the tire manufacturer reported a deepening third-quarter loss. Farmers, squeezed by the rising costs of fuel and fertilizer, are keeping older equipment in the field longer, causing a sharp contraction in replacement sales for the West Chicago-based company.
CEO Paul Reitz noted that macroeconomic pressures, including elevated interest rates and high input costs, have stifled activity across the firm’s primary markets throughout 2026. In response to these conditions, Titan lowered its full-year sales guidance, now projecting between $1.85 billion and $1.87 billion, down from a previous high-end target of $1.95 billion.
Comments (0)
No comments yet. Be the first!