SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

We have aggregated our operating segments into reportable segments based on our three customer markets: agricultural, consumer, and earthmoving/construction. These segments are based on the information used by the chief operating decision maker (CODM) to make certain operating decisions, allocate portions of capital expenditures and assess segment performance. The accounting policies of the segments are the same as those described in Note 1, Basis of Presentation and Significant Accounting Policies. Segment external revenues, expenses, and income from operations are determined on the basis of the results of operations of operating units of manufacturing facilities.

We are organized primarily on the basis of products being included in three marketing segments, with each reportable segment including wheels, tires and wheel/tire assemblies. Following our disposition of ITM, our business and segments will no longer include undercarriage systems and components in a range of geographies, and the Purchase Agreement contains the Company’s agreement not to complete in this market for a period of five years following the completion of the Transaction. Given the integrated manufacturing operations and common administrative and marketing support, a substantial number of allocations primarily based on segment sales data must be made to determine operating segment data.

The CODM of Titan is Paul Reitz (our President and CEO). The CODM utilizes both forecasted and actual expense information on a consolidated basis to manage operations. The CODM utilizes segment gross profit and segment operating profit (loss), both in comparison to the prior year and the current forecasted level of gross profit, for purposes of analyzing the segment’s financial performance. The assessment of each segment’s financial performance by the CODM is then utilized to contemplate and execute on business decisions to allocate resources to manage the growth and profitability of each reportable segment and for the Company as a whole. The CODM does not review asset information by segment to manage operations or allocate resources. Therefore, segment assets are not disclosed.

The tables below present information about certain operating results, separated by market segments, for the three and nine months ended September 30, 2026 and 2025 (amounts in thousands):

	Three months ended September 30, 2026
	Agriculture		Consumer		Earthmoving/Construction		Total
Net sales	$	156,878	$	120,900	$	57,399	$	335,177
Cost of sales	144,908		87,545		53,309		285,762
Gross profit	$	11,970	$	33,355	$	4,090	$	49,415
Selling, general and administrative expenses	12,718		17,474		5,090		35,282
Research and development expenses	1,281		774		419		2,474
Royalty expense	1,665		649		372		2,686
Restructuring and other charges	266		1,176		—		1,442
Segment (loss) profit	$	(3,960)	$	13,282	$	(1,791)	$	7,531
Corporate & unallocated expenses							(8,502)
Interest expense							(9,768)
Interest income							2,530
Foreign exchange loss							(707)
Other income							287
Loss from continuing operations before income taxes							$	(8,629)

	Nine months ended September 30, 2026
	Agriculture		Consumer		Earthmoving/Construction		Total
Net sales	$	518,619	$	397,148	$	180,853	$	1,096,620
Cost of sales	464,989		303,406		163,967		932,362
Gross profit	$	53,630	$	93,742	$	16,886	$	164,258
Selling, general and administrative expenses	40,770		55,283		14,373		110,426
Research and development expenses	4,114		2,685		1,252		8,051
Royalty expense	4,987		1,718		1,044		7,749
Restructuring and other charges	266		27,152		—		27,418
Segment profit	$	3,493	$	6,904	$	217	$	10,614
Corporate & unallocated expenses							(23,444)
Interest expense							(29,709)
Interest income							6,745
Foreign exchange loss							(1,103)
Other income							1,549
Loss from continuing operations before income taxes							$	(35,348)

	Three months ended September 30, 2025
	Agriculture		Consumer		Earthmoving/Construction		Total
Net sales	$	177,578	$	125,008	$	54,672	$	357,258
Cost of sales	154,152		95,694		51,338		301,184
Gross profit	$	23,426	$	29,314	$	3,334	$	56,074
Selling, general and administrative expenses	14,429		19,748		4,928		39,105
Research and development expenses	1,260		1,001		385		2,646
Royalty expense	2,173		839		433		3,445
Segment profit (loss)	$	5,564	$	7,726	$	(2,412)	$	10,878
Corporate & unallocated expenses							(7,158)
Interest expense							(9,727)
Interest income							2,707
Foreign exchange loss							(1,962)
Other loss							(2,504)
Loss from continuing operations before income taxes							$	(7,766)

	Nine months ended September 30, 2025
	Agriculture		Consumer		Earthmoving/Construction		Total
Net sales	$	548,804	$	374,744	$	163,223	$	1,086,771
Cost of sales	476,089		295,178		151,409		922,676
Gross profit	$	72,715	$	79,566	$	11,814	$	164,095
Selling, general and administrative expenses	40,886		57,997		13,429		112,312
Research and development expenses	3,683		2,603		1,097		7,383
Royalty expense	5,487		1,814		1,009		8,310
Segment profit (loss)	$	22,659	$	17,152	$	(3,721)	$	36,090
Corporate & unallocated expenses							(22,801)
Interest expense							(28,935)
Interest income							6,751
Foreign exchange loss							(4,750)
Other loss							(814)
Loss from continuing operations before income taxes							$	(14,459)

Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):

	Agricultural		Consumer		Earthmoving/Construction		Corporate & Unallocated		Total
Three months ended September 30, 2026	$	6,115	$	4,713	$	2,237	$	262	$	13,327
Nine months ended September 30, 2026	18,767		14,389		6,538		927		40,621
Three months ended September 30, 2025	$	6,546	$	4,609	$	2,016	$	362	$	13,533
Nine months ended September 30, 2025	19,633		13,327		5,846		1,038		39,844