Titan International Appoints New CTO and CFO
Titan International announced a series of executive appointments. David Martin, previously SVP & CFO, has been appointed SVP and Chief Transformation Officer, or CTO. In this newly created role, David Martin will lead enterprise-wide transformation initiatives focused on strategic alignment, operational agility, and long-term value creation. He will oversee the critical alignment of information technology, including acceleration of AI adoption, along with human capital, and risk management functions and initiatives. Tony Eheli, formerly VP and Chief Accounting Officer, has been appointed SVP and CFO. Eheli has been responsible for Titan's global financial reporting, audit oversight, and operational controls, as well as leadership of the North American operational finance organization. Prior to joining Titan, Eheli served in several finance leadership roles at Danaher, and in roles of increasing responsibility at PwC. Jim Pach, formerly Corporate Controller, has been appointed VP and Chief Accounting Officer. Prior to joining Titan, Jim Pach worked in senior accounting roles at various public companies, and in roles of increasing responsibility at PwC. These appointments are effective immediately.
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- Performance Exceeds Expectations: Titan International reported a 7% year-over-year sales increase in Q4 2025, with adjusted EBITDA rising 18% to $11 million, surpassing expectations and demonstrating the company's resilience amid challenges in the agricultural sector and the advantages of its diversified product portfolio.
- Segment Performance Highlights: The EMC segment saw a remarkable 21% sales growth to $141 million, becoming the most optimistic business area for the company, reflecting strong drivers from infrastructure spending and mineral demand, indicating significant future growth potential.
- Optimistic Future Outlook: Management anticipates Q1 2026 revenues between $490 million and $510 million, with adjusted EBITDA projected at $28 million to $33 million, indicating confidence in market recovery, particularly as equipment inventories stabilize.
- Strategic Investment and Innovation: Management reiterated a revenue forecast for 2026 of $1.85 billion to $1.95 billion, with 15% of sales expected to come from new products launched in the past three years, showcasing the company's ongoing commitment to product innovation and market adaptability.
- Strong Financial Performance: Titan International reported Q4 2025 revenues between $490 million and $510 million, with Adjusted EBITDA expected to range from $28 million to $33 million, indicating robust market performance and improved profitability.
- EMC Segment Outperformance: The EMC segment achieved a remarkable 21% revenue growth and a 3.4 percentage point increase in gross margin, showcasing Titan's enhanced competitiveness in high-demand markets, with continued growth anticipated in 2026.
- Agricultural Segment Outlook: Although the Ag segment saw a modest 2.6% revenue increase in Q4, demand for smaller equipment is expected to outpace high-horsepower units, reflecting farmers' strategies in response to high costs and low commodity prices, potentially driving future sales growth.
- Flexible Market Strategy: Titan's diversified supply chain and One Stop Shop strategy enhance its ability to adapt to market changes, with expectations of benefiting from OEM inventory replenishment in 2026, further solidifying its market leadership position.
- Earnings Performance: Titan International reported a Q4 GAAP EPS of -$0.88, missing expectations by $0.60, indicating challenges in profitability, while revenue reached $410 million, up 6.9% year-over-year, beating market expectations by $13.14 million, suggesting sustained sales momentum.
- Financial Health: CFO Tony Eheli noted that the company ended the year with a strong balance sheet and maintained a disciplined expense profile, which improved margins and profitability, laying a foundation for future investments and demonstrating resilience amid adversity.
- Future Outlook: Titan International expects Q1 2026 sales between $490 million and $510 million, with adjusted EBITDA projected between $28 million and $33 million, reflecting an optimistic outlook for future market activity despite uncertainties.
- Annual Projections: The company anticipates full-year revenue in the range of $1.85 billion to $1.95 billion, slightly below the consensus of $1.86 billion, with adjusted EBITDA expected between $105 million and $115 million, indicating a need to navigate market challenges while sustaining growth.
- Earnings Announcement Date: Titan International is set to announce its Q4 earnings on February 26 before market open, with consensus EPS estimate at -$0.28 and revenue estimate at $396.86 million, reflecting a 3.5% year-over-year growth.
- Historical Performance Review: Over the past two years, Titan International has only beaten EPS estimates 38% of the time and revenue estimates 25% of the time, indicating significant volatility in its performance metrics.
- Expectation Revision Status: In the last three months, there have been no upward revisions to EPS estimates, with three downward revisions, while revenue estimates also saw no upward revisions and one downward revision, suggesting market caution regarding future performance.
- Investment Risk Advisory: Although Titan International's shares are perceived as cheap, analysts warn of persistent investment risks, urging investors to carefully assess the company's financial health before making decisions.
- Board Member Change: Titan International announces that Kim Marvin has resigned from the Board of Directors after approximately 24 months of service due to time constraints and other professional commitments, indicating stability in executive turnover for the company.
- Acknowledgment of Contributions: CEO Paul Reitz expressed gratitude for Kim's contributions over the past two years, highlighting the operational continuity provided post-Carlstar acquisition and the value of his engineering and financial expertise, reflecting the company's emphasis on talent.
- No Replacement Planned: Titan International currently has no intention of replacing this board seat, suggesting a preference for maintaining the existing governance structure and operational stability at this stage.
- Company Background: Titan International is a leading global manufacturer of off-highway wheels and tires, headquartered in West Chicago, Illinois, focusing on meeting OEM and aftermarket customer needs in the agricultural, earthmoving, and consumer markets, underscoring its significant position in the industry.
- Earnings Release Schedule: Titan International will release its Q4 2025 financial results before the market opens on February 26, 2026, providing investors with critical financial data and future outlook to analyze the company's performance.
- Teleconference Details: Following the earnings release, Titan will hold a teleconference and webcast on the same day at 9:00 a.m. Eastern Time, allowing participants to engage through a designated dial-in number or the company website, enhancing investor interaction.
- Webcast Access: Investors can access the live webcast via Titan's official website under the 'Investor Relations' section, ensuring they log in at least 10 minutes prior to the event for smooth participation.
- Company Background: Titan International is a leading global manufacturer of off-highway wheels and tires, focusing on agricultural, construction, and consumer markets, offering a wide range of products that meet OEM and aftermarket specifications, highlighting its significant position in the industry.






