– Updates Fiscal 2025 Modeling Assumptions – – Company to Hold Conference Call to Discuss Fiscal Second Quarter Results on August 29, 2024 – WEST FARGO, N.D., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN) (the “Company”), a leading network of full-service agricultural and construction equipment stores, today announced preliminary results for the fiscal second quarter ended July 31, 2024. “Lower commodity prices and sustained high interest rates, along with mixed growing conditions a ...

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 April 30, 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 Othe ...

Titan Machinery Inc. (TITN) reported earnings per share (EPS) of 41 cents in first-quarter fiscal 2025 (ended Apr 30, 2024), which missed the Zacks Consensus Estimate of 67 cents. The bottom line marked a 66% plunge from EPS of $1.19 reported in the year-ago quarter due to lower equipment gross margins and incremental floorplan interest expenses. TITN’s results reflect weak demand and high levels of inventory in many product categories. Total revenues were $628.7 million, up 10.4% from the year-ago quarter. ...

财务数据和关键指标变化 - 第一季度总收入为6.287亿美元,同比增长10.4% [38] - 设备收入增长9%,零件收入增长12%,服务收入增长29%,租赁及其他收入下降16.1% [39] - 毛利润为1.22亿美元,毛利率同比下降140个基点至19.4%,主要由于设备利润率下降 [40] - 营业费用同比增长21.9%,主要由于近12个月内完成的收购带来的影响以及持续增加服务能力 [41] - 财务费用同比增加7百万美元,主要由于存货融资规模增加 [42] - 净利润为940万美元,每股收益0.41美元,去年同期为2700万美元,每股收益1.19美元 [43] 各条业务线数据和关键指标变化 农业分部 - 销售额增长5.8%至4.477亿美元,同店销售增长4.3% [44] - 增长受到农场收入下降和宏观经济因素影响导致的需求疲软 [44] - 但基本面仍然良好,包括精准农业技术带来的效率提升、老旧设备更新需求以及农场财务状况良好 [46] - 分部税前利润为1300万美元,去年同期为2420万美元 [46] 建筑分部 - 同店销售下降0.7%至7150万美元,设备销售略有增长但零件销售下降 [47] - 去年冬季降雪较少导致除雪设备和零件需求下降 [47] - 但行业基本面稳定,预计全年建筑活动将保持健康水平 [47] - 分部税前利润为30万美元,去年同期为450万美元 [47] 欧洲分部 - 销售额下降12.5%至6510万美元,剔除汇率影响下降13.4% [49] - 新设备需求下降,但零件和服务收入有所增长 [49] - 下半年同比将有所改善,因为去年下半年需求有所下滑 [50] - 分部税前利润为140万美元,去年同期为640万美元 [50] 澳大利亚分部 - 销售额为4440万美元,税前亏损50万美元 [51] - 与预期一致,同比有所增长,因为去年同期为收购前 [51] - 该分部季节性特征与美国农业业务类似,上半年占45%,下半年占55% [52] 公司战略和发展方向及行业竞争 - 公司正专注于提升客户服务策略,以推动更稳定的零件、服务和精准农业业务增长 [33] - 同时严格控制可控的固定成本和存货管理,以应对行业需求下滑 [33][34] - 这些措施将使公司在下一个周期中的财务表现大幅改善,体现公司在过去几年中的战略改善 [34] 管理层对经营环境和未来前景的评论 - 行业正从供给受限和需求旺盛转向供给过剩和需求疲软 [16][17] - 主要原因是制造商交货时间恢复正常,以及农场收入下降、利率上升和宏观不确定性影响农场主情绪 [17][18] - 公司将采取更积极的策略来管理存货,将存货周转率控制在2.2-3.2次的健康水平 [19][20][21] - 这一过程可能持续到2026财年,但公司已经明确了需要采取的措施 [21] 其他重要信息 - 公司正密切关注受到龙卷风和洪水影响的员工和社区,安全和健康是当前的首要任务 [36] - 公司正在严格控制非收入相关岗位的招聘,但会继续支持关键的服务能力建设 [25][26] 问答环节重要的提问和回答 问题1 **Ben Klieve 提问** 询问公司对2026财年末存货水平的预期 [69][70][71] **Bo Larsen 回答** - 2025财年末存货水平预计与年初相当 - 2026财年存货将有更大幅度下降,目标是达到2.2-3.2次的健康存货周转率区间 [70][71] 问题2 **Mircea Dobre 提问** 询问公司在农业分部和建筑分部采取的降低存货的具体措施 [78][83][84][85] **Bryan Knutson 回答** - 采取各种措施如利息优惠、延长质保期等来刺激销售,以更积极的方式管理存货 [87] - 这些措施最终都会反映在毛利率的下降 [87] 问题3 **Edward Jackson 提问** 表示之前的问题已经得到解答,没有其他问题 [90]

Titan Machinery (TITN) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -38.81%. A quarter ago, it was expected that this agriculture and construction equipment seller would post earnings of $0.99 per share when it actually produced earnings of $1.05, delivering a surprise of 6.06%. O ...

Titan Machinery Inc. Announces Results for Fiscal First Quarter Ended April 30, 2024 - Updates Fiscal 2025 Modeling Assumptions - West Fargo, ND – May 23, 2024 – 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, 2024. "Our first quarter results reflected an industry-wide transition to a more challenging market environment, characterized ...

WEST FARGO, N.D., May 23, 2024 (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, 2024. "Our first quarter results reflected an industry-wide transition to a more challenging market environment, characterized by softening demand and excess supply of inventory in many product categories as OEM delivery timelines return ...

WEST FARGO, N.D., May 23, 2024 (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, 2024. "Our first quarter results reflected an industry-wide transition to a more challenging market environment, characterized by softening demand and excess supply of inventory in many product categories as OEM delivery timelines returne ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ___________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED JANUARY 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-33866 ___________________________________________ TITAN MACHINERY INC. (Exact name of registrant as specified in its charter) Delaware 45-03 ...

Titan Machinery Inc. (NASDAQ:TITN) Q4 2024 Earnings Conference Call March 21, 2024 8:30 AM ET Company Participants Jeff Sonnek - Investor Relations Bryan Knutson - President and Chief Executive Officer Bo Larsen - Chief Financial Officer Conference Call Participants Ted Jackson - Northland Securities Larry De Maria - William Blair Joe Grabowski - R. W. Baird Ben Klieve - Lake Street Capital Markets Alex Rygiel - B. Riley Ted Jackson - Northland Securities Operator Greetings. Welcome to the Titan Machinery I ...