Titan International, Inc. filed a Current Report on Form 8-K on November 13, 2026, disclosing the recasting of historical financial results to reflect the discontinuation of its ITM business. The company previously entered into a Sale and Purchase Agreement on September 21, 2026, to sell the ITM business, a move that began with the Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
To assist investors in evaluating the company's continuing operations, Titan International provided supplemental historical financial information for the three months ended March 31, 2026 and 2025, and the three months ended June 30, 2026 and 2025. This data, furnished as Exhibit 99.1 to the 8-K, retrospectively adjusts the financial statements to present the ITM business as discontinued operations.
The recast financials detail the performance of continuing operations. For the three months ended June 30, 2026, continuing operations reported a net loss of $1.3 million, or a loss of $0.02 per share. In contrast, the discontinued ITM business reported net income of $7.6 million for the same period. The company also reported adjusted EBITDA of $22.2 million for continuing operations and $11.9 million for discontinued operations during the second quarter of 2026.
The cash flow statement for continuing operations showed net cash provided by operating activities of $30.3 million for the three months ended June 30, 2026. The company ended the period with $179.8 million in cash and cash equivalents, an increase of $8.5 million from the beginning of the quarter.
