Titan Machy Inc Stock Price, News & Analysis

Titan Machinery reported a remarkable 29.1% increase in revenue for fiscal 2023, totaling $2.2 billion. The company achieved a record GAAP EPS of $4.49 and an adjusted EPS of $4.52, reflecting increases of 53.8% and 51.7%, respectively. The fourth quarter revenue reached $583.0 million, up from $507.6 million year-over-year. The Agriculture segment led with revenue of $440.9 million, supported by acquisitions and strong demand. Despite these successes, adjusted EBITDA fell 10.6% to $32.1 million in Q4, affected by delayed shipments. Looking ahead, fiscal 2024 modeling predicts revenue increases across segments and EPS between $4.50 - $5.10.

Titan Machinery Inc. (Nasdaq: TITN) will announce its financial results for the fourth quarter and full year ended January 31, 2023, on March 16, 2023. An investor conference call is scheduled for 7:30 a.m. Central time (8:30 a.m. Eastern time) the same day, with call-in options for U.S. and international participants. A live webcast will also be available on the company's Investor Relations website, and the event will be archived for 30 days.

Titan Machinery operates a network of full-service agricultural and construction equipment dealerships across North America and Europe, representing major CNH Industrial brands.

Titan Machinery Inc. (Nasdaq: TITN) will participate in a fireside chat at the 2023 ICR Conference from January 9-11, 2023, in Orlando, FL. The chat is scheduled for January 10, 2023, at 9:00 am Eastern time. A live webcast will be available on their Investor Relations website and archived for 30 days. Titan Machinery, founded in 1980, operates a network of agricultural and construction equipment stores across North America and Europe, servicing various agricultural sectors.

Titan Machinery (Nasdaq: TITN) announced a purchase agreement to acquire the Idaho dealership assets of Pioneer Farm Equipment Co. The acquisition includes five Case IH agricultural dealerships in southeastern Idaho, with Pioneer generating approximately $60 million in revenue for 2021. This strategic move is expected to close in February 2023 and aims to enhance Titan's presence in the growing agricultural market in the Snake River Valley, aligning with their existing operations and customer service values.

Titan Machinery (TITN) reported a remarkable revenue increase of 47.3% in Q3 Fiscal 2023, reaching $668.8 million. Earnings per share soared by 88% to a record $1.82. The company also raised its EPS guidance for the fiscal year to a range of $4.55 - $4.85. Strong performance was noted across equipment sales, which rose to $509 million, alongside gains in parts and service revenues. Operating efficiency improved, evidenced by a pre-tax margin of 8.2%. Adjusted EBITDA surged 80% to $63.5 million.

Titan Machinery Inc. (Nasdaq: TITN) will release its financial results for the third quarter ending October 31, 2022, on November 30, 2022. This will be followed by an investor conference call at 7:30 a.m. Central time (8:30 a.m. Eastern time). Interested investors can join the live call by dialing (877) 704-4453 in the U.S. or (201) 389-0920 internationally. A replay will be available until December 14, 2022. The event will also be webcast live and archived on the company's website for 30 days.

Titan Machinery Inc. (Nasdaq: TITN) has announced the appointment of Robert (Bo) Larsen as its new Chief Financial Officer and Treasurer, effective December 1, 2022. He will succeed Mark Kalvoda, who will remain in an advisory role until January 15, 2023. Larsen brings extensive financial leadership experience from CNH Industrial and Raven Industries, where he held key finance roles. Chairman and CEO David Meyer expressed confidence in Larsen's ability to contribute positively to the company's growth trajectory.