SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Segment Reporting Information, by Segment

The table below presents information about certain operating results, separated by market segments, for the three months ended March 31, 2025 and 2024 (amounts in thousands):


	Three months ended March 31, 2025
	Agriculture		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Net sales	$	197,746	$	143,290	$	149,672	$	—	$	490,708
Cost of sales	173,259		128,397		120,408		—		422,064
Gross profit	$	24,487	$	14,893	$	29,264	$	—	$	68,644
Selling, general and administrative expenses	12,074		11,021		19,087		7,673		49,855

Research and development expenses	1,354		1,849		888		453		4,544
Royalty expense	1,617		347		482		—		2,446
Segment profit (loss)	$	9,442	$	1,676	$	8,807	$	(8,126)	$	11,799
Interest expense							(9,535)		(9,535)
Interest income							2,239		2,239
Foreign exchange loss							(1,385)		(1,385)
Other income							1,134		1,134
(Loss) income before income taxes							$	(15,673)	$	4,252


	Three months ended March 31, 2024
	Agriculture		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Net sales	$	239,673	$	165,208	$	77,328	$	—	$	482,209
Cost of sales	199,054		142,231		63,554		—		404,839
Gross profit	$	40,619	$	22,977	$	13,774	$	—	$	77,370
Selling, general and administrative expenses	13,394		11,956		7,803		6,267		39,420
Acquisition related expenses	—		—		—		6,196		6,196
Research and development expenses	1,230		1,666		336		422		3,654
Royalty expense	1,985		521		522		—		3,028
Segment profit (loss)	$	24,010	$	8,834	$	5,113	$	(12,885)	$	25,072
Interest expense							(8,367)		(8,367)
Interest income							2,875		2,875
Foreign exchange loss							(275)		(275)
Other income							405		405
(Loss) income before income taxes							$	(18,247)	$	19,710

Schedule of Reconciliation of Revenue from Segments to Consolidated

The table below presents net sales by products and reportable segments for the three months ended March 31, 2025 and 2024 (amounts in thousands):


	Agricultural Segment		Earthmoving/Construction Segment		Consumer Segment		Total





Three months ended March 31, 2025
Wheels and Tires [including assemblies]	$	188,367	$	54,413	$	142,175	$	384,955
Undercarriage systems and components	9,379		88,877		7,497		105,753
Total	$	197,746	$	143,290	$	149,672	$	490,708


	Agricultural Segment		Earthmoving/Construction Segment		Consumer Segment		Total





Three months ended March 31, 2024
Wheels and Tires [including assemblies]	$	229,034	$	66,245	$	71,354	$	366,633
Undercarriage systems and components	10,639		98,963		5,974		115,576
Total	$	239,673	$	165,208	$	77,328	$	482,209

Segment, Reconciliation of Other Items from Segments to Consolidated

Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):


	Agricultural Segment		Earthmoving/Construction Segment		Consumer Segment		Corporate & Unallocated		Total

Three months ended March 31, 2025	$	6,158	$	4,463	$	4,661	$	589	$	15,871


Three months ended March 31, 2024	5,708		3,935		1,842		516		12,001