Titan Machinery(TITN) - 2024 Q4 - Annual Results

Revenue Growth - Revenue for Fiscal 2024 increased 24.9% to a record $2.8 billion[7] - Revenue for Q4 2024 increased to $852.1 million, up 46.2% from $583.0 million in Q4 2023[26] - Equipment revenue for Q4 2024 was $714.0 million, a 51.6% increase from $471.0 million in Q4 2023[26] - Agriculture segment revenue for Q4 2024 was $620.6 million, a 40.8% increase year-over-year[15] - Construction segment revenue for Q4 2024 was $100.1 million, up 17.7% year-over-year[16] - Agriculture segment revenue for Q4 2024 was $620.593 million, a 40.8% increase from $440.891 million in Q4 2023[35] - Construction segment revenue for Q4 2024 was $100.095 million, a 17.7% increase from $85.067 million in Q4 2023[35] Segment Performance - Europe segment revenue for Q4 2024 was $61.6 million, a 3.6% increase excluding foreign currency effects[17] - Australia segment revenue for Q4 2024 was $69.8 million[18] Profitability and Margins - Record Fiscal 2024 EPS of $4.93, an increase of 9.8%[7] - Gross profit for Q4 2024 was $141.0 million, with a gross profit margin of 16.6%, down from 18.7% in Q4 2023[27] - Net income for Q4 2024 was $23.963 million, compared to $18.112 million in Q4 2023[32] EBITDA and Cash Flow - EBITDA for Q4 2024 was $45.3 million, a 42.2% increase year-over-year[14] - EBITDA for Q4 2024 was $45.270 million, up from $31.838 million in Q4 2023[37] - Net cash used for operating activities in Fiscal 2024 was $32.3 million, compared to $10.8 million provided in Fiscal 2023[22] - Cash at the end of the period was $38.066 million, down from $43.913 million at the beginning of the period[33] Inventory and Assets - Inventories increased to $1.3 billion as of January 31, 2024, up from $703.9 million the previous year[20] - Total assets increased to $1,992.261 million in 2024, up from $1,188.695 million in 2023[25] Future Outlook - Fiscal 2025 modeling assumptions include Agriculture segment revenue growth of Flat - Up 5% and Construction segment revenue growth of Up 3 - 8%[1] - The company expects consolidated revenue growth in fiscal 2025, driven by the O'Connors acquisition and steady growth in parts and service business[28]