Titan International (NYSE:TWI) posted a modest increase in first-quarter revenue, even as the company moves to shutter a domestic manufacturing facility to protect margins against a backdrop of shifting demand in the agricultural and construction sectors.
The Chicago-based manufacturer reported revenue of $505 million for the quarter ended March 31, 2026, a 2.9% increase compared to the same period last year.
Profitability metrics reflected the ongoing pressure of higher manufacturing costs and an evolving product mix.
Gross margin for the quarter stood at 14.1%, while Adjusted EBITDA reached $31 million.
In a strategic move to optimize its footprint, Titan disclosed the planned closure of its Jackson, Tennessee plant.
The exit, expected to be completed by the end of October, will result in approximately $2 million in restructuring charges and a $23 million non-cash impairment.
The decision to consolidate production comes as the company manages a cautious outlook for the second quarter.
Management anticipates Q2 sales between $470 million and $490 million, with adjusted EBITDA projected in the range of $25 million to $30 million.
The guidance suggests a slight deceleration in volume as the global agricultural cycle continues to normalize after a period of post-pandemic intensity.
Despite the near-term restructuring, Titan reaffirmed its full-year 2026 sales guidance of $1.85 billion to $1.95 billion and adjusted EBITDA of $105 million to $115 million.