Tire manufacturer Titan International reported its fourth quarter and full year 2024 results on February 26.

Along with announcing the sales results, Paul Reitz, president and CEO, commented on tariffs and their potential impact. He said at this point, Titan doesn’t anticipate the currently planned tariffs to be an issue for the company to navigate.

However, he went on to say that he does, quote, “think it is a mistake to place a tariff on raw steel without also implementing one on all steel related products from the tariffed countries to close the loop for companies trying to avoid that tariff.”

Reitz says in the long run, tariffs should be a net positive for Titan, saying quote, “We expect, as we have during more complex and volatile times, that Titan will continue to leverage its leading product portfolio, strong domestic manufacturing and distribution footprint, and global presence to allow us to serve our customers and mitigate their risks better than our competition."

Net sales in the agricultural segment were $157.1 million for the three months ended December 31, 2024, down about 18% vs. the fourth quarter of 2023. For the full year, net sales came in at $788.6 million, down nearly 20% vs. the year before. Titan attributed the change in net sales was primarily driven by lower global demand for agricultural equipment, particularly in North America and Europe.

Reitz noted that conversations with some OEM customers are taking a more positive tone as of late, with several asking about Titan’s readiness to ramp up production in the second half of the year.  

“We expect, as we have during more complex and volatile times, that Titan will continue to leverage its leading product portfolio, strong domestic manufacturing and distribution footprint, and global presence to allow us to serve our customers and mitigate their risks better than our competition."

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