Shares of Titan International (TWI) plummeted 9.21% in pre-market trading on Thursday following the release of disappointing second-quarter financial results. The tiremaker's performance fell short of analyst expectations, sparking concerns among investors.

Titan reported Q2 revenue of $461 million, missing the analyst consensus estimate of $478 million by 3.60%. This represents a significant 13.41% decrease compared to the same period last year when sales were $532.17 million. More alarmingly, the company posted a quarterly loss of $0.02 per share, falling well below the expected profit of $0.03 per share. This marks a stark reversal from the $0.10 earnings per share recorded in the same quarter last year.

Despite the challenging environment, Titan managed to maintain a 15% gross margin and reported an adjusted EBITDA of $30 million, which was within the company's guidance. CEO Paul Reitz attributed the underperformance to "higher interest rates and tariff uncertainties" impacting end markets. Looking ahead, Titan expects Q3 sales between $450 million and $475 million, with adjusted EBITDA forecasted at $25 million to $30 million. The company remains optimistic, anticipating that current inventory levels will drive an upward sales trend in the future. However, the market's immediate reaction suggests investors are wary of the near-term headwinds facing the company.