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Titan Machinery Inc. (symbol: TITN) is a prominent network of full-service agricultural and construction equipment stores, providing a range of solutions through sales, service, and rentals. Headquartered in West Fargo, ND, the company represents a diversified mix of dealerships across Arizona, Colorado, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Dakota, Wisconsin, and Wyoming.
With 75 stores, Titan Machinery is a leading dealer for major brands such as Case IH, Case Construction, New Holland Agriculture, and New Holland Construction, among others. The company's core business segments include:
- Agriculture: This segment offers machinery and attachments for both large-scale farming and home gardening purposes.
- Construction: Providing heavy construction and light industrial machinery, this segment covers a wide range of equipment needs.
- Europe and Australia: Expanding its global footprint, this segment supports international operations and growth.
Titan Machinery is committed to meeting specialized customer demands with a varied list of shortline equipment. The company also emphasizes career growth, offering competitive pay and industry-leading benefits to its employees. For more information about career opportunities, visit titanmachinery.com/careers.
The company's recent achievements include the strategic acquisition of O'Connors, anticipated to drive growth and synergies within Titan Machinery's operations. Despite challenges such as the ongoing Russia-Ukraine conflict's impact on its Ukrainian subsidiary, the company remains resilient, navigating supply chain disruptions, fluctuating market conditions, and increased competition.
For the latest updates and developments, investor presentations, and financial measures, Titan Machinery provides ongoing communication to keep stakeholders informed. As the company continues to evolve, its focus remains on sustaining growth, improving profitability, and strengthening its market position.
Titan Machinery (Nasdaq: TITN), a network of agricultural and construction equipment stores, announced it will release its fiscal third quarter 2024 financial results on Tuesday, November 26, 2024. The company will host an investor conference call at 7:30 a.m. Central time. U.S. investors can participate by dialing (877) 704-4453, while international callers can dial (201) 389-0920. A replay will be available until December 10, 2024. A live webcast will be accessible on the company's website and archived for 30 days.
Titan Machinery Inc. (Nasdaq: TITN) reported financial results for Q2 FY2025 ended July 31, 2024. Key points:
- Revenue: $633.7 million, down from $642.6 million in Q2 last year
- Net loss: $4.3 million, or $0.19 per diluted share
- Adjusted net income: $4.0 million, or $0.17 per diluted share (excluding one-time expense)
- EBITDA: $9.1 million, down from $50.4 million last year
- Adjusted EBITDA: $20.2 million
The company faced challenging market conditions impacting farmer sentiment and agriculture equipment sales. In response, Titan is managing inventory levels, implementing cost control measures, and focusing on higher-margin parts and service businesses. The company reiterated its recently updated fiscal 2025 modeling assumptions.
Titan Machinery Inc. (Nasdaq: TITN) announced preliminary results for Q2 FY2025 ended July 31, 2024. The company expects revenue of approximately $634 million, with adjusted pre-tax income of about $6.9 million and adjusted EPS of $0.17. These figures exclude a non-cash sale-leaseback financing expense of $11.2 million. TITN updated its FY2025 guidance, projecting lower revenue across all segments due to softer retail demand, lower commodity prices, and high interest rates. The company now expects adjusted diluted EPS of $0.00 to $0.50, down from the previous $2.25 to $2.75. TITN is focusing on reducing inventory levels, implementing cost controls, and growing its parts and service businesses to navigate the current challenging environment.
Titan Machinery (Nasdaq: TITN) reported its fiscal Q1 2025 results, showing a revenue increase to $628.7M from $569.6M YoY. Equipment revenue rose to $468.1M, parts to $108.2M, and services to $45.1M. However, the gross profit margin decreased to 19.4% from 20.8%, and net income dropped to $9.4M from $27.0M. Operating expenses increased to $99.2M due to past acquisitions.
Segment-wise, agriculture revenue grew by 5.8%, construction remained flat, Europe saw a 13.4% decline, and Australia reported $44.4M in revenue. The company updated its fiscal 2025 assumptions, lowering expected revenue and diluted EPS ranges. Cash at quarter-end was $35.7M, with inventory rising to $1.4B. Net cash used for operating activities decreased to $32.4M.
Titan Machinery Inc. (Nasdaq: TITN) will release its financial results for the first quarter ended April 30, 2024, on May 23, 2024. The company, known for its full-service agricultural and construction equipment stores, will also host an investor conference call. Investors can participate via phone or webcast. A telephone replay and webcast archive will be available for a time.
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