Titan Machinery (TITN) Misses on Q1 Earnings, Lowers FY25 View
TITNTitan Machinery(TITN) zacks.com·2024-05-25 02:10

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 1.19reportedintheyear−agoquarterduetolowerequipmentgrossmarginsandincrementalfloorplaninterestexpenses.TITN’sresultsreflectweakdemandandhighlevelsofinventoryinmanyproductcategories.Totalrevenueswere1.19 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. ...