Financial Performance - For the first quarter of fiscal 2026, the company reported a net loss of $13.2 million, or $0.58 per diluted share, compared to a net income of $9.4 million, or $0.41 per diluted share in the same period of fiscal 2025[65]. - Total revenue for the first quarter of fiscal 2026 decreased by 5.5% or $34.4 million, primarily due to challenging industry conditions and a projected 23.6% decline in net farm income compared to 2022[76]. - Gross profit for the first quarter of fiscal 2026 decreased by 25.3% or $30.8 million, with a gross profit margin declining to 15.3% from 19.4% in the prior year quarter[78]. - The company reported a loss before income taxes of $17.3 million for the first quarter of fiscal 2026, compared to an income of $12.8 million in the same period of fiscal 2025[86]. - Net cash provided by operating activities was $6.2 million for the first three months of fiscal 2026, a significant improvement from a net cash used of $32.4 million in the prior year[101]. Revenue Breakdown - Total revenue for the first quarter of fiscal 2026 was $594.3 million, a decrease of 5.5% compared to $628.7 million in the same period of fiscal 2025[86]. - Agriculture segment revenue decreased by 14.1% to $384.4 million, primarily due to lower equipment sales driven by challenging industry conditions[87]. - Equipment revenue for the first quarter of fiscal 2026 was $436.8 million, a decrease of 6.7% compared to $468.1 million in the same period of fiscal 2025[76]. - Parts revenue decreased by 2.4% to $105.6 million, while service revenue also saw a decline of 2.4% to $44.0 million in the first quarter of fiscal 2026[76]. - The construction segment reported a revenue increase of 0.9% to $72.1 million, but incurred a loss before income taxes of $4.2 million[89][90]. Operating Metrics - The absorption rate for the company decreased to 75.5% in the first quarter of fiscal 2026, down from 77.1% in the same period last year, primarily due to lower gross profit[79]. - Operating expenses decreased by 2.8% to $96.4 million, but as a percentage of revenue, operating expenses increased to 16.2% from 15.8% year-over-year[80]. - The gross profit margin for equipment sales dropped significantly to 6.8% from 11.9% in the prior year, reflecting lower equipment margins driven by softer retail demand[78]. - Equipment inventory turnover decreased from 2.0 times to 1.7 times over the rolling 12 months ended April 30, 2025, indicating a decline in demand[97]. Segment Performance - The company operates through four reportable segments: Agriculture, Construction, Europe, and Australia, with principal revenue sources including new and used equipment sales, parts sales, service, and equipment rental[61]. - Europe segment revenue increased by 44.2% to $93.9 million, attributed to higher equipment demand from EU stimulus programs[91]. - Shared Resources loss before income taxes was $4.5 million for the first quarter of fiscal 2026, compared to a loss of $1.4 million in the same period last year[94]. Tax and Debt - The effective tax rate improved to 23.6% in the first quarter of fiscal 2026 from 26.2% in the same period of fiscal 2025[83]. - Total long-term debt, including finance lease obligations, was $211.2 million, primarily fixed rate debt[109]. Foreign Currency Risk - The company manages foreign currency exchange rate risk through derivative financial instruments, primarily foreign exchange forward contracts[110]. - A hypothetical 10% increase or decrease in foreign exchange rates would not have a material impact on results of operations or cash flows[110]. - The Ukrainian subsidiary had $1.0 million of net monetary assets denominated in Ukrainian hryvnia (UAH) as of April 30, 2025[110]. - The continuation of the Russia/Ukraine conflict could lead to significant UAH devaluations or more stringent payment controls in the future[110]. - Fluctuating foreign currency exchange rates may adversely impact results of operations, cash flows, and net investment in foreign operations[111].

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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.Titan Machinery’s Q1 Revenues Decline Y/YTotal 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. ...

Titan Machinery (TITN) Q1 2026 Earnings Call May 22, 2025 08:30 AM ET Company Participants Jeff Sonnek - Managing DirectorBryan Knutson - President, CEO & DirectorBo Larsen - CFO & TreasurerLiam Burke - Managing Director Conference Call Participants Edward Jackson - MD & Senior Research AnalystMircea Dobre - Associate Director of Research & Senior Research AnalystBen Klieve - Senior Research AnalystMatthew Raab - Equity Research Analyst Operator Greetings, and welcome to the Titan Machinery First Quarter Fi ...

Financial Data and Key Metrics Changes - Total revenue for Q1 fiscal 2026 was $594.3 million, a decrease of 5.5% from $628.7 million in the prior year period [17] - Gross profit decreased to $90.9 million from $121.8 million, with a gross profit margin of 15.3% [17] - Net loss for Q1 was $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 previous year [19] Business Line Data and Key Metrics Changes - Agriculture segment revenue decreased by 14.1% to $384.4 million, with a pretax loss of $12.8 million compared to pretax income of $13 million in the prior year [19] - Construction segment saw a slight increase in same store sales by 0.9% to $72.1 million, but reported a pretax loss of $4.2 million compared to pretax income of $0.3 million last year [20] - European segment revenue increased by 44.2% to $93.9 million, with a pretax income of $4.7 million compared to $1.4 million in the prior year [20] - Australia segment revenue decreased by 1% to $44 million, with a pretax loss of $0.6 million compared to a loss of $0.5 million last year [21] Market Data and Key Metrics Changes - Domestic agriculture market remains subdued, with farmers in a wait-and-see mode due to commodity prices and government aid uncertainty [10][11] - European market, particularly Romania, benefited from EU stimulus funds, leading to increased buying activity [13] - Australian market conditions are similar to the domestic agriculture segment, with lower new order activity due to dry conditions and low commodity prices [15] Company Strategy and Development Direction - The company is focused on optimizing inventory and managing through the current market cycle, with a target of reducing equipment inventory by $100 million [22][23] - The strategy includes leveraging parts and service revenue, which is expected to contribute significantly to gross profit despite equipment sales pressures [9][27] - The company aims to emerge from the current down market as a stronger entity, emphasizing customer service and operational efficiency [16] Management's Comments on Operating Environment and Future Outlook - Management anticipates a subdued retail environment due to weak farmer profitability and undefined government support programs [6][7] - The company expects continued challenges in the agriculture segment, with revenue projected to decline by 20% to 25% for the full year [24] - For the construction segment, revenue is expected to decline by 5% to 10%, while the European segment is projected to grow by 23% to 28% [25][26] Other Important Information - The company has successfully reduced equipment inventory by approximately $13 million sequentially, with a cumulative reduction of $406 million from peak levels [22] - The adjusted debt to tangible net worth ratio was 1.8, well below the bank covenant of 3.5 times [22] Q&A Session Summary Question: Is there any positive outlook on the agricultural sector? - Management noted that some government payments have started to come through, providing stability, but the overall outlook remains challenging [32] Question: How is the construction sector performing? - Management indicated that while the construction sector is cautious, there is more optimism compared to agriculture, with contractors starting to fill their project backlogs [36][38] Question: What is the status of government support programs? - The USDA is looking to provide additional funding for natural disaster relief, which could help stabilize the agricultural sector [42][44] Question: Are there specific areas where inventory needs to be reduced? - Management highlighted that the focus is on reducing used inventory levels, particularly in the agriculture segment, while maintaining a healthy inventory mix [56][57] Question: What are the expectations for same store sales in agriculture? - Management expects same store sales in agriculture to be down about 30% year over year for Q2, with a challenging back half of the year anticipated [72]

Titan Machinery (TITN) came out with a quarterly loss of $0.58 per share versus the Zacks Consensus Estimate of a loss of $0.79. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.58%. A quarter ago, it was expected that this agriculture and construction equipment seller would post a loss of $0.87 per share when it actually produced a loss of $1.98, delivering a surprise of -127.59%.Over the ...

First Quarter FY2026 Earnings Conference Call May 22, 2025 Safe Harbor Statement Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "intend" and similar expressions may constitute forward-looking statements. Except for historical inform ...

Modifies Segment Revenue and Reiterates EPS Modeling Assumptions for Fiscal 2026WEST FARGO, N.D., May 22, 2025 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN) ("Titan" or the "Company"), a leading network of full-service agricultural and construction equipment stores, today reported financial results for the fiscal first quarter ended April 30, 2025. "Our fiscal first quarter results demonstrated our ability to advance our short term goals in a challenging market environment, and while headwinds per ...

Acquisition Details - Titan Machinery Inc. has completed the acquisition of the dealership assets of Farmers Implement & Irrigation, aligning with its strategic growth initiatives [1][2] - Farmers Implement & Irrigation, a New Holland dealership, has two locations in South Dakota and generated revenues of $20 million in 2024 [2][3] - The acquisition enhances Titan Machinery's New Holland presence in eastern South Dakota [3] Financial Guidance - For fiscal 2026, the agriculture segment's revenues are expected to decline by 20-25%, while the construction segment's revenues are projected to decrease by 5-10% [4] - The company anticipates a loss of $1.25 to $2.00 per share in fiscal 2026, indicating weak demand [4] Stock Performance - Over the past year, Titan Machinery's shares have decreased by 9.6%, contrasting with the industry's growth of 13.5% [5] Earnings Expectations - Titan Machinery is set to report its first-quarter fiscal 2026 earnings, with a consensus estimate of a loss of 79 cents per share, compared to earnings of 41 cents per share in the same quarter last year [9] - The revenue estimate for the first quarter is pegged at $493 million, reflecting a year-over-year growth of 26.4% [9]

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. ...