v3.26.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The tables below present information about certain operating results, separated by market segments, for the three and six months ended June 30, 2026 and 2025 (amounts in thousands):

Three months ended June 30, 2026
AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$183,637 $154,527 $146,602 $484,766 
Cost of sales162,742 135,216 111,884 409,842 
Gross profit$20,895 $19,311 $34,718 $74,924 
Selling, general and administrative expenses14,370 12,711 19,175 46,256 
Research and development expenses1,664 1,797 1,180 4,641 
Royalty expense1,673 450 530 2,653 
Restructuring and impairment expenses— — 834 834 
Segment profit $3,188 $4,353 $12,999 $20,540 
Corporate & unallocated expenses(7,226)
Interest expense(10,047)
Interest income2,463 
Foreign exchange gain58 
Other income548 
Income before income taxes$6,336 
Six months ended June 30, 2026
AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$381,982 $314,041 $293,816 $989,839 
Cost of sales337,072 276,641 229,753 843,466 
Gross profit$44,910 $37,400 $64,063 $146,373 
Selling, general and administrative expenses27,856 25,767 37,848 91,471 
Research and development expenses3,150 4,056 2,186 9,392 
Royalty expense3,223 834 1,006 5,063 
Restructuring and impairment expenses— — 25,976 25,976 
Segment profit (loss)$10,681 $6,743 $(2,953)$14,471 
Corporate & unallocated expenses(14,942)
Interest expense(19,934)
Interest income4,662 
Foreign exchange gain968 
Other income1,494 
Loss before income taxes$(13,281)
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Three months ended June 30, 2025
AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$193,223 $152,347 $115,260 $460,830 
Cost of sales164,943 134,873 91,741 391,557 
Gross profit$28,280 $17,474 $23,519 $69,273 
Selling, general and administrative expenses13,871 12,494 18,916 45,281 
Research and development expenses1,329 1,652 915 3,896 
Royalty expense1,627 334 458 2,419 
Segment profit$11,453 $2,994 $3,230 $17,677 
Corporate & unallocated expenses(7,517)
Interest expense(9,673)
Interest income2,455 
Foreign exchange loss(2,995)
Other income1,140 
Income before income taxes$1,087 

Six months ended June 30, 2025
AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$390,969 $295,637 $264,932 $951,538 
Cost of sales338,202 263,270 212,149 813,621 
Gross profit$52,767 $32,367 $52,783 $137,917 
Selling, general and administrative expenses25,945 23,515 38,003 87,463 
Research and development expenses2,683 3,501 1,803 7,987 
Royalty expense3,244 681 940 4,865 
Segment profit$20,895 $4,670 $12,037 $37,602 
Corporate & unallocated expenses(15,643)
Interest expense(19,208)
Interest income4,694 
Foreign exchange loss(4,380)
Other income2,274 
Income before income taxes$5,339 

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Schedule of Reconciliation of Revenue from Segments to Consolidated
The tables below present net sales by products and reportable segments for the three and six months ended June 30, 2026 and 2025 (amounts in thousands):
AgriculturalEarthmoving/ConstructionConsumerTotal
Three months ended June 30, 2026
Wheels and Tires [including assemblies]$174,504 $53,779 $138,008 $366,291 
Undercarriage systems and components9,133 100,748 8,594 118,475 
 Total$183,637 $154,527 $146,602 $484,766 
Six months ended June 30, 2026
Wheels and Tires [including assemblies]$361,743 $123,454 $276,247 $761,444 
Undercarriage systems and components20,239 190,587 17,569 228,395 
Total$381,982 $314,041 $293,816 $989,839 

AgriculturalEarthmoving/ConstructionConsumerTotal
Three months ended June 30, 2025
Wheels and Tires [including assemblies]$182,858 $54,138 $107,561 $344,557 
Undercarriage systems and components10,365 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 components19,744 187,086 15,196 222,026 
Total$390,969 $295,637 $264,932 $951,538 
Segment Reporting, Reconciliation of Other Item by Segment to Consolidated
Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):
AgriculturalEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Three months ended June 30, 2026$6,408 $5,393 $5,116 $303 $17,220 
Six months ended June 30, 202612,921 10,632 9,951 789 34,293 
Three months ended June 30, 2025$6,740 $5,314 $4,021 $548 $16,623 
Six months ended June 30, 202512,898 9,777 8,682 1,137 32,494