Financial Performance and Market Conditions - The company's financial performance is highly dependent on CNH Industrial's reputation and product competitiveness in the agricultural and construction equipment sectors[93]. - The agricultural equipment market is currently experiencing a downturn, leading to significant reductions in revenues and profitability for the company[109]. - Inflationary pressures and higher interest rates have made equipment purchases less affordable, contributing to a depressed agricultural equipment market and significantly decreased revenue in fiscal 2025[112]. - A significant drop in net farm income or weather disruptions could lead to an oversupply of equipment, negatively affecting sales prices and margins[123]. - Seasonal fluctuations in agricultural and construction equipment sales can significantly impact quarterly results and cash flow[131]. - Changes in tax legislation, such as the 15% global minimum tax, could adversely affect the company's financial results[132]. Operational Risks and Challenges - Supply chain disruptions have previously caused variability in product lead times, impacting inventory balances from quarter to quarter[118]. - The company is subject to risks from international operations, including compliance with foreign laws and fluctuations in currency exchange rates[120]. - The competitive landscape is challenging, with aggressive pricing strategies from competitors affecting profit margins[114]. - Changes in CNH Industrial's operating practices could adversely affect the company's business and results of operations[100]. - The ongoing Russian-Ukraine conflict has significantly disrupted operations in Ukraine, with potential asset write-offs and revenue losses if operations cease[121]. - The company faces risks in its growth strategy, particularly regarding acquisitions, which may not yield expected revenue growth or profitability[139]. - A shortage of qualified service technicians could negatively impact customer service and increase compensation expenses, affecting gross margins[143]. Financial Management and Debt - As of January 31, 2025, the company’s indebtedness includes floorplan financing and long-term debt, which could limit operational flexibility and increase vulnerability to economic conditions[126]. - The company expects to rely on cash flow from operations and borrowings to fund operations, but future performance is uncertain due to various external factors[127]. - As of January 31, 2025, total floorplan payables outstanding were $755.7 million, with $453.3 million at variable interest rates[272]. Currency and Interest Rate Risks - The company attempts to manage foreign currency exchange rate risk through derivative financial instruments, primarily foreign exchange forward contracts[273]. - A hypothetical 10% increase or decrease in foreign exchange rates would not have a material impact on the company's results of operations or cash flows[274]. - A one percentage point increase in interest rates for the next 12 months would decrease pre-tax earnings and cash flow by approximately $4.5 million, while a decrease would increase them by the same amount[272]. - The company is exposed to various market risks, including changes in interest rates and foreign currency exchange rates[271]. Inventory and Asset Management - The company’s inventory management is critical, as equipment inventory represents a substantial portion of total assets, impacting sales and financing costs[122]. - The company has experienced downward adjustments in used equipment values, impacting cost of goods sold and operating income[124]. Cybersecurity and Data Protection - The company maintains cyber risk insurance, but it may not cover all losses from future breaches, and past cybersecurity incidents have not materially impacted financial position[150]. - The efficient operation of the business relies on information technology systems for financial reporting and regulatory compliance, making data security critical[148]. - The European Union General Data Protection Regulation imposes stringent data protection requirements, which could lead to significant penalties for noncompliance[149]. Dealer Agreements and Support - CNH Industrial's financial and marketing support is crucial for the company's competitiveness in the market[95]. - The company's dealer agreements impose significant obligations, including maintaining adequate facilities and workforce to service customer needs[101].

Titan Machinery Inc. (TITN) reported adjusted loss per share of $1.98 in fourth-quarter fiscal 2025 (ended Jan. 31, 2025), missing the Zacks Consensus Estimate of a loss of 87 cents per share. The company had reported earnings per share of $1.05 in the year-ago quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Including one-time items, TITN reported a loss per share of $1.93 in the fourth quarter of fiscal 2025 compared with earnings of $1.05 per share in the year-ago quarter.Ti ...

Titan Machinery Inc. (NASDAQ:TITN) Q4 2025 Earnings Conference Call March 20, 2025 8:30 AM ET Company Participants Jeff Sonnek - Managing Director, ICR Bryan Knutson - President and Chief Executive Officer Bo Larsen - Chief Financial Officer Conference Call Participants Ted Jackson - Northland Securities Mig Dobre - Baird Ben Klieve - Lake Street Capital Markets Matthew Raab - Craig-Hallum Operator Greetings and welcome to Titan Machinery’s Fourth Quarter Fiscal 2025 Earnings Call. At this time, all partici ...

Core Insights - Titan Machinery Inc. reported a significant inventory reduction of approximately $304 million in the fiscal fourth quarter, totaling $419 million since the peak in the fiscal second quarter [1][3] - Service revenue increased by 14.5% for the full fiscal year 2025, or 7.1% on a same-store basis [1][3] - The company provided modeling assumptions for fiscal 2026, anticipating a decline in demand for large agricultural equipment by approximately 30% year-over-year [17] Financial Performance - For the fourth quarter of fiscal 2025, total revenue was $759.9 million, down from $852.1 million in the same quarter last year [4] - Equipment revenue decreased to $621.8 million from $714.0 million year-over-year [4] - Gross profit for the fourth quarter was $51.0 million, a significant drop from $141.0 million in the previous year, resulting in a gross profit margin of 6.7% compared to 16.6% [5] Operating Expenses and Losses - Operating expenses were $96.7 million for the fourth quarter, down from $100.3 million year-over-year [6] - The net loss for the fourth quarter was $43.8 million, translating to a loss per diluted share of $1.93, compared to a net income of $24.0 million and earnings per diluted share of $1.05 in the same quarter last year [8][9] - Adjusted EBITDA for the fourth quarter was negative $46.0 million, compared to positive $45.3 million in the previous year [9] Segment Performance - The Agriculture segment reported revenue of $534.7 million, down from $620.6 million, with a same-store sales decrease of 15.5% [10] - The Construction segment's revenue was $94.6 million, a decrease from $100.1 million, reflecting a same-store sales decrease of 5.5% [11] - The Europe segment saw revenue increase to $65.4 million from $61.6 million, while the Australia segment's revenue decreased to $65.3 million from $69.8 million [12][13] Full Year Results - For fiscal 2025, total revenue was $2.7 billion, down from $2.8 billion in fiscal 2024 [14] - The net loss for the full year was $36.9 million, or $1.63 loss per diluted share, compared to a net income of $112.4 million, or $4.93 earnings per diluted share in the prior year [14] - Adjusted net loss for fiscal 2025 was $29.7 million, or $1.31 loss per diluted share [14] Balance Sheet and Cash Flow - Cash at the end of the fourth quarter was $35.9 million, with inventories at $1.1 billion, down from $1.4 billion as of October 31, 2024 [15] - The company generated net cash provided by operating activities of $70.3 million for fiscal 2025, compared to net cash used of $32.3 million in the previous year [16] 2026 Modeling Assumptions - The company expects Agriculture segment revenue to decline by 20% to 25%, Construction by 5% to 10%, Europe to remain flat to increase by 5%, and Australia to decline by 15% to 20% [19] - Adjusted diluted loss per share is projected to be between $1.25 and $2.00 [19]

Core Insights - Titan Machinery Inc. reported a significant inventory reduction of approximately $304 million in the fiscal fourth quarter, totaling $419 million since the peak in the fiscal second quarter [1][3] - Service revenue increased by 14.5% for the full fiscal year 2025, or 7.1% on a same-store basis [1][3] - The company provided modeling assumptions for fiscal 2026, anticipating a decline in demand for North American large agriculture equipment by approximately 30% year-over-year [17][18] Financial Performance - For the fourth quarter of fiscal 2025, total revenue was $759.9 million, down from $852.1 million in the same quarter last year [4] - Equipment revenue decreased to $621.8 million from $714.0 million year-over-year, while parts revenue slightly declined to $89.3 million from $90.8 million [4] - Gross profit for the fourth quarter was $51.0 million, a significant drop from $141.0 million in the previous year, resulting in a gross profit margin of 6.7% compared to 16.6% [5] Operating Expenses and Losses - Operating expenses were $96.7 million for the fourth quarter, down from $100.3 million year-over-year, but operating expense as a percentage of revenue increased to 12.7% from 11.8% [6] - The company reported a net loss of $43.8 million for the fourth quarter, compared to a net income of $24.0 million in the same period last year [8] - Adjusted EBITDA was negative $46.0 million, contrasting with positive EBITDA of $45.3 million in the fourth quarter of the previous year [9] Segment Performance - The Agriculture segment's revenue for the fourth quarter was $534.7 million, down from $620.6 million, reflecting a same-store sales decrease of 15.5% [10] - The Construction segment's revenue decreased to $94.6 million from $100.1 million, with a same-store sales decrease of 5.5% [11] - The Europe segment saw revenue increase to $65.4 million from $61.6 million, while the Australia segment's revenue decreased to $65.3 million from $69.8 million [12][13] Full Year Results - For fiscal 2025, total revenue was $2.7 billion, down from $2.8 billion in fiscal 2024, with a net loss of $36.9 million compared to a net income of $112.4 million in the prior year [14] - Adjusted net loss for fiscal 2025 was $29.7 million, or $1.31 loss per diluted share [14] - The company generated adjusted EBITDA of $12.8 million in fiscal 2025, a significant decrease from $189.3 million in fiscal 2024 [14] Balance Sheet and Cash Flow - Cash at the end of the fourth quarter was $35.9 million, with inventories at $1.1 billion, down approximately $419 million from the peak inventory of $1.5 billion [15] - Net cash provided by operating activities was $70.3 million for fiscal 2025, compared to net cash used of $32.3 million in fiscal 2024 [16] 2026 Modeling Assumptions - The company expects segment revenue for fiscal 2026 to decline, with Agriculture down 20% to 25%, Construction down 5% to 10%, Europe flat to up 5%, and Australia down 15% to 20% [20] - Adjusted diluted loss per share is projected to be between $1.25 and $2.00 [20]

WEST FARGO, N.D., March 13, 2025 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN), a leading network of full-service agricultural and construction equipment stores, announced today it will release financial results for the fourth quarter and full year ended January 31, 2025, on Thursday, March 20, 2025, followed by an investor conference call at 7:30 a.m. Central time (8:30 a.m. Eastern time). Investors interested in participating in the live call can dial (877) 704-4453 from the U.S. International c ...

Core Insights - Titan Machinery Inc. will participate in a fireside chat at the 2025 ICR Conference scheduled for January 13-15, 2025 [1][2] - The fireside chat is set for January 14, 2025, at 8:30 am Eastern Time, with a live audio webcast available [2] Company Overview - Titan Machinery Inc. was founded in 1980 and is headquartered in West Fargo, North Dakota [3] - The company operates a network of full-service agricultural and construction equipment dealer locations across North America, Europe, and Australia [3] - The U.S. locations span multiple states including Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, South Dakota, Washington, Wisconsin, and Wyoming [3] - Internationally, Titan Machinery has stores in Bulgaria, Germany, Romania, Ukraine, and Australia [3] - The company represents various CNH Industrial Brands, including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, and CNH Industrial Capital [3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File No. 001-33866 TITAN MACHINERY INC. (Exact name of registrant as specified in its charter) Delaware 45-0357838 (State or Ot ...

Titan Machinery Inc. (TITN) reported earnings per share (EPS) of 7 cents in third-quarter fiscal 2025 (ended Oct. 31, 2024), meeting the Zacks Consensus Estimate. The bottom line declined 95% from EPS of $1.32 in the year-ago quarter.Total revenues in the reported quarter were $680 million, down 2.1% from the year-ago quarter’s $694 million. The top line, however, surpassed the consensus mark of $669 million.Equipment revenues fell 5.1% year over year to $495 million, while parts revenues rose 5.3% to $121 ...

Titan Machinery Inc. (NASDAQ:TITN) Q3 2025 Earnings Conference Call November 26, 2024 8:30 AM ET Company Participants Jeff Sonnek - Managing Director, ICR Bryan Knutson - President and Chief Executive Officer Bo Larsen - Chief Financial Officer and Treasurer Conference Call Participants Alex Rygiel - B. Riley Securities Benjamin Klieve - Lake Street Capital Mircea Dobre - Baird Edward Jackson - Northland Securities Operator Greetings. Welcome to Titan Machinery Inc. Third Quarter Fiscal 2025 Earnings Call. ...