Titan Machinery Inc
NASDAQ:TITN
Titan Machinery Inc
Titan Machinery, Inc. engages in the management of agricultural and construction equipment stores. The company is headquartered in West Fargo, North Dakota and currently employs 2,288 full-time employees. The company went IPO on 2007-12-06. The firm operates its business through three reportable segments: Agriculture, Construction and International, within which the Company engaged in four principal business activities, including new and used equipment sales, parts sales, equipment repair and maintenance services, and equipment rental and other activities. Its agriculture stores in the United States are located in Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Wyoming. The Company’s construction stores are located in Colorado, Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin. Its international stores are located in the European countries of Bulgaria, Germany, Romania and Ukraine. The company has a network of approximately 74 stores located in the United States and over 35 stores in Europe.
Titan Machinery, Inc. engages in the management of agricultural and construction equipment stores. The company is headquartered in West Fargo, North Dakota and currently employs 2,288 full-time employees. The company went IPO on 2007-12-06. The firm operates its business through three reportable segments: Agriculture, Construction and International, within which the Company engaged in four principal business activities, including new and used equipment sales, parts sales, equipment repair and maintenance services, and equipment rental and other activities. Its agriculture stores in the United States are located in Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Wyoming. The Company’s construction stores are located in Colorado, Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin. Its international stores are located in the European countries of Bulgaria, Germany, Romania and Ukraine. The company has a network of approximately 74 stores located in the United States and over 35 stores in Europe.
Revenue Decline: Revenue in Q3 was $644.5 million, down 4.8% year-over-year, mainly due to weaker demand in domestic ag, construction, and Australia, though Europe was a bright spot.
Inventory Reduction: Titan reduced inventory by $98 million in the first nine months and raised its full-year reduction target from $100 million to $150 million, emphasizing quality improvements and aged inventory reduction.
Equipment Margins: Equipment margins beat expectations in Q3, reaching 8.1% (domestic ag at 7%), but are expected to moderate to about 7% in Q4 due to sales mix and ongoing inventory actions.
Parts & Service Strength: Over half of gross profit now comes from parts and service, providing stability as equipment demand stays weak.
Footprint Optimization: The company divested certain U.S. and German stores, focusing on stronger markets and leveraging its service network for better returns.
Guidance Updates: Construction segment revenue guidance was lowered to down 5–10%, while Europe guidance was raised to up 35–40% for the year, reflecting strong Romania results.
Adjusted EPS Outlook: The company reaffirmed full-year adjusted diluted loss per share guidance of a loss between $1.50 and $2, noting a noncash tax valuation allowance will increase reported tax expense by $0.35–0.45 per share.
