Titan International, Inc. reported a strong third quarter with net sales of $530.7 million, an increase of 17.8% compared to the same quarter last year. The company's adjusted EBITDA was $61.2 million, compared to $35.1 million in the prior year period. Free cash flow was $40 million for the quarter, and the company reduced its debt by $35 million.
Net sales were $531 million, an 18% year-over-year increase, the strongest Q3 sales level in TWI history.
Gross margin was 16.5% versus 13.4% a year ago.
Free cash flow was $40 million in Q3.
Reported EPS of $0.68/share, a YoY growth of $0.50/share
The company expects to finish the year at the top end of its previously communicated targets for sales, adjusted EBITDA, and free cash flow.
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