Latest news with #TitanMachineryInc
Yahoo
23-05-2025
- Business
- Yahoo
Titan Machinery Earnings Beat Estimates in Q1, Revenues Fall Y/Y
Titan Machinery Inc. TITN incurred a loss of 58 cents in first-quarter fiscal 2026 (ended April 30, 2025), which was narrower than the Zacks Consensus Estimate of a loss of 79 cents. The company posted earnings of 41 cents per share in the year-ago quarter. Total revenues were $594 million, down 5.5% from the year-ago quarter. The top line, however, surpassed the consensus mark of $463 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Equipment revenues fell 6.7% year over year to $437 million and parts revenues were down 2.4% to $106 million. Revenues generated from service were $44 million, down 2.4% from the year-ago quarter. Meanwhile, rental revenues were $7.9 million compared with $7.3 million in the year-ago quarter. Titan Machinery Inc. price-consensus-eps-surprise-chart | Titan Machinery Inc. Quote The cost of sales edged down 0.7% year over year to $503 million. Gross profit fell 25.4% year over year to $91 million. The gross margin was 15.3% compared with 19.4% in the year-ago quarter. Margins were down due to lower equipment margins, driven by high levels of inventory and weak expenses decreased 2.8% from the year-ago quarter to $96 million. Loss from operations was $5.7 million against the prior year's income of $22.6 million in the year-ago EBITDA was a negative $3.9 million against the prior year's adjusted EBITDA of $24 million. Agriculture revenues fell 14.1% from the last-year comparable quarter to $384 million. The downside was led by a decline in net farm income and a same-store sales decrease of 14.1%. The segment's loss before taxes was $13 million against income of $13 million in the year-ago revenues were $72 million, up 0.9% from the prior-year comparable quarter, driven by a same-store sales increase of 0.9%. The segment incurred a loss before taxes of $4 million against the year-ago quarter's income of $0.27 revenues were $94 million, up 44.2% from the year-ago quarter's $74 million. The segment reported income before taxes of $4.7 million, up from $1.4 million in the first quarter of fiscal Australia segment reported revenues of $44 million, down 1% year over year. It incurred a loss before taxes of $0.5 million in the first quarter of fiscal 2026, down 15.4% year over year. The cash outflow for operating activities was $6 million against an inflow of $32 million in the first quarter of fiscal 2025. Titan Machinery ended the fiscal first quarter with a cash balance of $21.5 million compared with $36 million at the end of fiscal 2025. The company's long-term debt was $154 million compared with $158 million as of the end of fiscal 2025. The agriculture segment's revenues are predicted to decline 20-25% in fiscal 2026. The Construction segment's revenues are expected to see a decline of 5-10%. Europe's revenues are expected to rise 23-28% compared with fiscal 2025. The Australia segment's revenues are expected to decline 20-25%.The company expects to report a loss of $1.25-$2.00 per share in fiscal 2026, reflecting weak demand. In the past year, shares of Titan Machinery have gained 7.9% compared with the industry's 11.6% increase. Image Source: Zacks Investment Research TITN currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Deere & Company DE reported second-quarter fiscal 2025 (ended April 27) earnings of $6.64 per share, beating the Zacks Consensus Estimate of $5.68. The bottom line decreased 22% from the prior-year quarter on lower shipment sales of equipment operations (comprising Agriculture, and Turf, Construction and Forestry) were $11.17 billion, down 17.9% year over year. However, net sales topped the Zacks Consensus Estimate of $10.65 billion. Total net sales (including financial services and others) were $12.76 billion, down 16% year over Corp. AGCO delivered adjusted earnings per share of 41 cents in first-quarter 2025 compared with the prior-year quarter's $2.32. The reported figure topped the Zacks Consensus Estimate of 3 cents. AGCO's net sales decreased 30% year over year to $2.05 billion in the March-end quarter. The top line beat the Zacks Consensus Estimate of $2.02 billion. Excluding the unfavorable currency-translation impacts of 2.4%, net sales fell 27.6% year over Industrial N.V. CNH reported first-quarter 2025 adjusted earnings per share of 10 cents, which declined from 33 cents in the prior-year quarter. The figure, however, surpassed the Zacks Consensus Estimate of earnings of 9 the first quarter, CNH Industrial's net sales declined nearly 21% from the year-ago level to $3.82 billion but topped the Zacks Consensus Estimate of $3.79 billion. The company's net sales from industrial activities were $3.17 billion, down 23% due to lower shipment volumes. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report CNH Industrial N.V. (CNH) : Free Stock Analysis Report Titan Machinery Inc. (TITN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Titan Machinery Inc (TITN) Q1 2026 Earnings Call Highlights: Navigating Challenges with ...
Total Revenue: $594.3 million, a decrease from $628.7 million in the prior year period. Same Store Sales: Decreased by 5.5%. Gross Profit: $90.9 million, down from $121.8 million in the prior year. Gross Profit Margin: 15.3%. Operating Expenses: $96.4 million, a decrease from $99.2 million in the prior year. Net Loss: $13.2 million or $0.58 per diluted share, compared to net income of $9.4 million or $0.41 per diluted share in the prior year. Agriculture Segment Revenue: $384.4 million, with a same store sales decrease of 14.1%. Construction Segment Revenue: $72.1 million, with a same store sales increase of 0.9%. European Segment Revenue: $93.9 million, a 44.2% increase, with a same store sales increase of 44%. Australia Segment Revenue: $44 million, with a same store sales decrease of 1%. Inventory: Total inventories at $1.1 billion, with equipment inventory reduced by approximately $13 million sequentially to $913 million. Floorplan and Other Interest Expense: $11.1 million, decreased 15.3% sequentially. Adjusted Debt to Tangible Net Worth Ratio: 1.8, below the bank covenant of 3.5 times. Warning! GuruFocus has detected 11 Warning Signs with TITN. Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Titan Machinery Inc (NASDAQ:TITN) demonstrated strong inventory management, maintaining total inventories at $1.1 billion, consistent with expectations. The company's customer care initiative, focusing on parts and service, provides a stable revenue foundation, contributing significantly to gross profit. The European segment, particularly in Romania, showed robust growth due to EU stimulus funds, with sales increasing by 44.2%. Titan Machinery Inc (NASDAQ:TITN) received recognition from CNH with two top dealer awards for superior customer service. The construction segment showed modest growth and stability, supported by infrastructure projects despite broader economic uncertainties. The agricultural segment faced significant challenges, with a same store sales decrease of 14.1% and a pretax loss of $12.8 million. Overall revenue decreased by 5.5% compared to the prior year, reflecting a challenging market environment. Net loss for the first quarter was $13.2 million, a significant decline from the previous year's net income of $9.4 million. The Australian segment faced softer retail demand than anticipated, leading to a downward revision of full-year revenue expectations. Interest expenses increased year-over-year, with floorplan and other interest expenses rising to $11.1 million from $9.5 million. Q: Are there any positive outlooks on the agricultural sector despite the tough environment? A: Bryan Knutson, President and CEO, mentioned that government payments have started to come through, providing some stability. Trade negotiations and recent rains in the Upper Midwest have also helped sentiment. However, the USDA's net farm income projections heavily rely on government subsidies, which remain uncertain. Q: How does the construction sector compare to agriculture in terms of market challenges? A: Bryan Knutson noted that while construction is more positive, with contractors starting to fill their project backlogs, it is still heavily dependent on the interest rate environment. Robert Larsen, CFO, added that construction is coming off record years, and the current modest step back is due to uncertainty and higher interest rates, unlike the historically low volumes in agriculture. Q: What kind of government support is expected for the agricultural sector, and how can analysts track it? A: Robert Larsen explained that the USDA is looking at additional payments for natural disaster events from 2023 and 2024. Analysts can track these developments on the USDA website, which provides specifics and timelines for the payments. Q: Is the agricultural market at a trough, and what does that imply for the future? A: Bryan Knutson indicated that while not calling a specific bottom, the current market aligns with historical trough levels, being 36% below the average from 2024 back to 2000. This suggests the market is operating near the bottom of the cycle, although the timing of a turnaround remains uncertain. Q: Can you provide an update on inventory management, particularly in different regions? A: Bryan Knutson stated that the $100 million inventory reduction target is a minimum, with most reductions expected in agriculture and Europe. The focus is on reducing used inventory levels and optimizing the mix, especially in high-demand areas like high horsepower tractors. Q: What is driving the increased revenue guidance for the European segment, particularly in Romania? A: Bryan Knutson explained that Romania represents about half of their European business and is benefiting from EU stimulus funds dedicated to supporting the industry. This has led to a significant increase in equipment demand, driving the revised revenue guidance. Q: How do you expect margins to evolve in the European segment given the increased revenue guidance? A: Bryan Knutson noted that European equipment margins are expected to be around 15.5%, higher than the US side. The strength in Europe is beneficial, while domestic ag margins are expected to improve as inventory optimization progresses. Q: What are the expectations for domestic agriculture same-store sales in Q2 and the back half of the year? A: Bryan Knutson expects Q2, Q3, and Q4 equipment sales to be down about 30% year-over-year for domestic agriculture. Parts and service are expected to remain flat, with the first half of the year accounting for a larger portion of total revenue due to pre-sales. Q: What initiatives from OEM partners are you hoping for to stimulate demand in the second half of the year? A: Bryan Knutson mentioned discussions with OEMs about financing programs and incentives to bridge the gap in farmer profitability. The goal is to stimulate demand and address the aging fleet issue as the market remains at trough levels. Q: How do you expect parts and service margins to trend, and what was the traffic like in the first quarter? A: Robert Larsen expects parts and service margins to remain slightly positive. Traffic was down low single digits in Q1, better than expected, and the focus remains on maintaining flat performance in parts and service despite a challenging equipment market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data
San Francisco Chronicle
22-05-2025
- Business
- San Francisco Chronicle
Titan Machinery: Fiscal Q1 Earnings Snapshot
WEST FARGO, N.D. (AP) — WEST FARGO, N.D. (AP) — Titan Machinery Inc. (TITN) on Thursday reported a loss of $13.2 million in its fiscal first quarter. On a per-share basis, the West Fargo, North Dakota-based company said it had a loss of 58 cents. The agriculture and construction equipment seller posted revenue of $594.3 million in the period. _____
Yahoo
22-05-2025
- Business
- Yahoo
Titan Machinery: Fiscal Q1 Earnings Snapshot
WEST FARGO, N.D. (AP) — WEST FARGO, N.D. (AP) — Titan Machinery Inc. (TITN) on Thursday reported a loss of $13.2 million in its fiscal first quarter. On a per-share basis, the West Fargo, North Dakota-based company said it had a loss of 58 cents. The agriculture and construction equipment seller posted revenue of $594.3 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on TITN at Sign in to access your portfolio
Yahoo
16-05-2025
- Business
- Yahoo
Titan Machinery Completes Acquisition of Farmers Implement & Irrigation
WEST FARGO, N.D., May 16, 2025 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN), a leading network of full-service agricultural and construction equipment stores, today announced that it has completed the acquisition of the dealership assets of Farmers Implement & Irrigation, a two-store New Holland dealership in Brookings and Watertown, South Dakota. The transaction closed on May 15, 2025. For the full calendar year 2024, Farmers Implement & Irrigation generated revenue of approximately $20 million. Bryan Knutson, Titan Machinery Chief Executive Officer, commented, 'This acquisition aligns with our strategic growth initiatives and allows us to expand our New Holland presence in the productive eastern South Dakota region. We are honored to build upon the strong foundation that David Gullickson and his family established over his remarkable 53-year career. Their commitment to customer service aligns perfectly with our customer care strategy and has created a loyal customer base that we look forward to serving.' About Titan Machinery Inc. Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, owns and operates a network of full service agricultural and construction equipment dealer locations in North America, Europe and Australia, servicing farmers, ranchers, and commercial applicators. The network consists of US locations in Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, South Dakota, Washington, Wisconsin, and Wyoming. The international network includes European stores located in Bulgaria, Germany, Romania, and Ukraine and Australian stores located in New South Wales, South Australia, and Victoria in Southeastern Australia. The Titan Machinery locations represent one or more of the CNH Industrial Brands, including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, and CNH Industrial Capital. Additional information about Titan Machinery Inc. can be found at Investor Relations Contact:ICR, Sonnek, jsonnek@ Director646-277-1263
