Titan International Inc (NYSE: TWI)

Titan is a global manufacturer and supplier of wheels, tires, and undercarriage components serving original equipment manufacturers and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.

The company designs, produces, and distributes a broad range of products under brands such as Goodyear Farm Tire, Titan Tire, Carlstar and other brands to meet diverse equipment specifications.

Titan generates revenue primarily through the sale of wheels, tires, and assembled units to OEMs and through aftermarket channels including independent distributors and dealers.

The company also earns royalties from trademark licensing agreements with Goodyear and Carlisle for the manufacture and sale of branded tires.

The company operates through the following segments.

• Agricultural Segment: This segment manufactures wheels, tires, and components for tractors, combines, plows, planters, irrigation equipment and other farm machinery, offering products under the Goodyear Farm Tire, Titan Tire, Carlstar, ACES and other brands and providing complete wheel tire assemblies to OEM and aftermarket customers.

• Earthmoving/Construction Segment: This segment produces wheels, tires, and undercarriage systems for equipment such as skid steers, cranes, excavators, loaders and military vehicles, offering products under the Titan brand and providing wheel tire assemblies for select applications.

• Consumer Segment: This segment manufactures wheels and tires for outdoor power equipment, power sports, trailers and small to midsize agricultural and construction equipment, offering products under the Carlstar, ITP, Black Rock, Goodyear and Unique brands and providing wheel tire assemblies to selected OEM customers.

Titan holds a strong position in the global off highway wheel, tire and undercarriage market due to its ability to manufacture both wheels and tires, enabling it to deliver complete assemblies. The company competes with firms such as Accuride, Gianetti, Moveero, Jantsa, Kenda, Maxin, OTR, Pronar, Rimex, Trelleborg Group, Topy Industries Ltd, Wanda and Wheels India Limited in the wheel market and with Alliance Tire Company Ltd, Balkrishna Industries Limited, Bridgestone/Firestone, Michelin, Mitas a.s. and Pirelli in the tire market. Titan’s competitive advantages include its long term customer relationships, integrated production capabilities and a reputation for quality and service.

Titan serves a diverse customer base that includes original equipment manufacturers in the agricultural, construction and consumer sectors as well as aftermarket distributors and dealers. The company’s top customers comprise AGCO Corporation, Caterpillar Inc., CNH Global N. V., Deere & Company, Hitachi Ltd., Kubota Corporation, Liebherr and Volvo. These ten largest accounts together represented approximately 33% of net sales in 2025.