TITN
Titan Machinery Inc.16.22
+0.07+0.43%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '26
Key Stats
Market Cap
379.11MP/E (TTM)
-Basic EPS (TTM)
-2.72Dividend Yield
0%Recent Filings
8-K
10-Q
Q3 FY2026 results
Titan Machinery posted Q3 FY2026 revenue of $644.5M, down 5.2% y/y yet steady sequentially, with gross profit edging up 0.5% to $111.0M at 17.2% margin—lifted by equipment margins expanding to 8.1% on $3.7M manufacturer incentives. Operating income slipped to $10.3M from $11.5M y/y, but net income held at $1.2M or $0.05 diluted EPS (22,780 diluted shares). Europe surged 87.6% on Romanian EU subsidies, offsetting Agriculture's 12.7% drop from weak crop receipts; cash climbed to $48.8M on $83.9M YTD operating cash flow, inventories down to $1.0B, floorplan at $739.6M (3.08%-9.15%). Acquired Farmers Implement for $13.4M cash in May 2025, recognizing $1.4M goodwill. Signed Germany divestiture November 6, 2025. Commodity prices pressure farm demand.
8-K
Q3 revenue down, margins up
Titan Machinery reported Q3 fiscal 2026 revenue of $644.5 million, down 5.2% year-over-year, yet gross margins expanded to 17.2% on favorable sales mix and $98 million nine-month inventory cuts. Europe surged 87.6% via stimulus; agriculture dipped 12.7% on weak demand. Raised full-year inventory reduction target to $150 million. Inventory slashed $98M.
10-Q
Q2 FY2026 results
Titan Machinery's Q2 FY2026 revenue fell 13.8% y/y to $546.4M, driven by a 19.1% drop in equipment sales amid softening agricultural demand, while parts and service held steady with gross margins of 31.7% and 64.2%. Gross profit dipped 16.7% to $93.6M, yielding a 17.1% margin versus 17.7% last year, as equipment margins contracted to 6.6% from 9.2%; operating income shrank to $0.7M from $15.8M, but net loss widened modestly to $6.0M or $0.26 per diluted share from $4.3M or $0.19, with EPS aligning to 22,764 weighted shares. Europe surged 44% on stimulus-fueled equipment buys, offsetting agriculture's 18.5% decline, yet Australia halved after backlog clearance. Cash stood at $32.7M with $49.9M YTD operating cash flow; total debt eased to $164.5M, bolstered by $1.5B floorplan availability sans covenant breaches. The May 2025 Farmers Implement acquisition added $13.4M cash outlay and $1.4M goodwill in agriculture. Inventory turns slowed. Tariffs threaten export-sensitive farm income.
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