SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

The table below presents information about certain operating results, separated by market segments, for the three and six months ended June 30, 2025 and 2024 (amounts in thousands):


	Three months ended June 30, 2025
	Agriculture		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Net sales	$	193,223	$	152,347	$	115,260	$	—	$	460,830
Cost of sales	164,943		134,873		91,741		—		391,557
Gross profit	$	28,280	$	17,474	$	23,519	$	—	$	69,273
Selling, general and administrative expenses	13,871		12,494		18,916		7,072		52,353

Research and development expenses	1,329		1,652		915		445		4,341
Royalty expense	1,627		334		458		—		2,419
Segment profit (loss)	$	11,453	$	2,994	$	3,230	$	(7,517)	$	10,160
Interest expense							(9,673)		(9,673)
Interest income							2,455		2,455
Foreign exchange loss							(2,995)		(2,995)
Other income							1,140		1,140
(Loss) income before income taxes							$	(16,590)	$	1,087


	Six months ended June 30, 2025
	Agriculture		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Net sales	$	390,969	$	295,637	$	264,932	$	—	$	951,538
Cost of sales	338,202		263,270		212,149		—		813,621
Gross profit	$	52,767	$	32,367	$	52,783	$	—	$	137,917
Selling, general and administrative expenses	25,945		23,515		38,003		14,745		102,208

Research and development expenses	2,683		3,501		1,803		898		8,885
Royalty expense	3,244		681		940		—		4,865
Segment profit (loss)	$	20,895	$	4,670	$	12,037	$	(15,643)	$	21,959
Interest expense							(19,208)		(19,208)
Interest income							4,694		4,694
Foreign exchange loss							(4,380)		(4,380)
Other income							2,274		2,274
(Loss) income before income taxes							$	(32,263)	$	5,339


	Three months ended June 30, 2024
	Agriculture		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Net sales	$	216,330	$	165,564	$	150,276	$	—	$	532,170
Cost of sales	184,027		144,265		123,436		—		451,728
Gross profit	$	32,303	$	21,299	$	26,840	$	—	$	80,442
Selling, general and administrative expenses	13,927		12,121		18,997		6,538		51,583

Research and development expenses	1,162		1,814		834		408		4,218
Royalty expense	1,442		317		560		—		2,319
Segment profit (loss)	$	15,772	$	7,047	$	6,449	$	(6,946)	$	22,322
Interest expense							(9,732)		(9,732)
Interest income							2,545		2,545
Foreign exchange gain							462		462
Other income							3,277		3,277
(Loss) income before income taxes							$	(10,394)	$	18,874


	Six months ended June 30, 2024
	Agriculture		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Net sales	$	456,003	$	330,772	$	227,604	$	—	$	1,014,379
Cost of sales	383,081		286,496		186,990		—		856,567
Gross profit	$	72,922	$	44,276	$	40,614	$	—	$	157,812
Selling, general and administrative expenses	27,321		24,077		26,800		12,805		91,003
Acquisition related expenses	—		—		—		6,196		6,196
Research and development expenses	2,392		3,480		1,170		830		7,872
Royalty expense	3,427		838		1,082		—		5,347
Segment profit (loss)	$	39,782	$	15,881	$	11,562	$	(19,831)	$	47,394
Interest expense							(18,099)		(18,099)
Interest income							5,420		5,420
Foreign exchange gain							187		187
Other income							3,682		3,682
(Loss) income before income taxes							$	(28,641)	$	38,584

Schedule of Reconciliation of Revenue from Segments to Consolidated

The table below presents net sales by products and reportable segments for the three and six months ended June 30, 2025 and 2024 (amounts in thousands):



	Agricultural		Earthmoving/Construction		Consumer		Total
Three months ended June 30, 2025
Wheels and Tires [including assemblies]	$	182,858	$	54,138	$	107,561	$	344,557
Undercarriage systems and components	10,365		98,209		7,699		116,273
Total	$	193,223	$	152,347	$	115,260	$	460,830

Six months ended June 30, 2025
Wheels and Tires [including assemblies]	$	371,225	$	108,551	$	249,736	$	729,512
Undercarriage systems and components	19,744		187,086		15,196		222,026
Total	$	390,969	$	295,637	$	264,932	$	951,538



	Agricultural		Earthmoving/Construction		Consumer		Total
Three months ended June 30, 2024
Wheels and Tires [including assemblies]	$	205,709	$	59,352	$	142,230	$	407,291
Undercarriage systems and components	10,621		106,212		8,046		124,879
Total	$	216,330	$	165,564	$	150,276	$	532,170

Six months ended June 30, 2024
Wheels and Tires [including assemblies]	$	434,743	$	125,597	$	213,584	$	773,924
Undercarriage systems and components	21,260		205,175		14,020		240,455
Total	$	456,003	$	330,772	$	227,604	$	1,014,379

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		Earthmoving/Construction		Consumer		Corporate & Unallocated		Total
Three months ended June 30, 2025	$	6,740	$	5,314	$	4,021	$	548	$	16,623
Six months ended June 30, 2025	12,898		9,777		8,682		1,137		32,494

Three months ended June 30, 2024	6,042		4,623		4,196		561		15,422
Six months ended June 30, 2024	11,750		8,558		6,038		1,077		27,423