Earnings summaries and quarterly performance for Titan Machinery.
Executive leadership at Titan Machinery.
Board of directors at Titan Machinery.
Research analysts who have asked questions during Titan Machinery earnings calls.
Matthew Raab
Craig-Hallum Capital Group
6 questions for TITN
Also covers: ABG, DTC, SEAT +3 more
MD
Mircea Dobre
Robert W. Baird & Co.
6 questions for TITN
Also covers: AGCO, ALG, ASTE +15 more
Benjamin Klieve
Lake Street Capital Markets
5 questions for TITN
Also covers: ANDE, AVD, AVO +10 more
EJ
Edward Jackson
Northland Securities, Inc.
5 questions for TITN
Also covers: ALNT, ALTG, AMPX +8 more
Liam Burke
B. Riley Financial
3 questions for TITN
Also covers: ALTG, BWMN, CCEC +22 more
TJ
Ted Jackson
Northland Securities, Inc.
3 questions for TITN
Also covers: ALTG, CNH, HY +6 more
MD
Mig Dobre
Baird
2 questions for TITN
Also covers: OSK
Ben Klieve
Lake Street Capital Markets
1 question for TITN
Also covers: ANDE, AVD, AVO +13 more
Laura Maher
B.Riley Securities
1 question for TITN
Also covers: BWMN, DY, NPKI +2 more
MC
Min Chung Cho
B. Riley Securities
1 question for TITN
Also covers: ALTG, DY, NR +1 more
Recent press releases and 8-K filings for TITN.
Titan Machinery Discusses Strategy, Market Conditions, and Financial Performance
TITN
Demand Weakening
M&A
New Projects/Investments
- Titan Machinery, the largest CNH dealer globally, focuses on consolidating the CNH network and expanding its footprint in Europe and Australia. While equipment accounts for about 75% of revenue, parts and service, at just under 25% of revenue, contribute 50% to two-thirds or higher of gross profit dollars, with significantly higher gross profitability margins (service in the low 60s%, parts in the low 30s%) compared to equipment (single-digit range).
- The company's M&A strategy prioritizes adding density within its core footprint, aiming for dual-branded dealerships. This includes a recent divestiture of struggling German operations to local New Holland dealers to strengthen the dual-branded strategy.
- Titan Machinery is navigating a significant industry down cycle, with large agricultural volumes projected to decrease by 15%-20% in the upcoming year (FY 2026), potentially reaching multi-decade lows. The company proactively managed inventory, reducing equipment inventories by an expected $550 million from a peak of $1.3 billion by the end of January (fiscal year-end).
- Equipment margins, which were 3% in the first half of fiscal year 2026, improved to 7% in the third quarter, with a goal to approach the historical range of 8%-12%. Floor plan interest, which was recently higher than 50%-56% of inventory being interest-bearing, is now decreasing, contributing to improved financial performance.
Jan 13, 2026, 2:00 PM
TITN Navigates Down Cycle with Strategic Inventory Management and M&A Focus
TITN
Demand Weakening
M&A
New Projects/Investments
- TITN, the largest CNH dealer globally, generates approximately 75% of its revenue from equipment but derives 50% or more of its gross profit from parts and service, which also boasts significantly higher margins (low 60s% for service, low 30s% for parts) compared to equipment (single-digit range).
- The company is actively managing a significant down cycle in the agricultural equipment industry, with industry volumes for large ag projected to be down 15%-20% for the next year, potentially reaching the lowest point in decades. Management expects 2026 to be the bottom of this cycle.
- TITN has proactively managed its equipment inventory, reducing it by approximately $550 million from a peak of $1.3 billion by the end of its fiscal year in January, aiming for a two and a half times turn. This has contributed to an improvement in equipment margins from 3% in the first half of FY 2026 to 7% in Q3 FY 2026.
- Strategic M&A focuses on footprint density and dual-branded dealerships (currently one-third dual-branded in the U.S.), while divesting underperforming assets like those in Germany to enhance sustained profitability.
Jan 13, 2026, 2:00 PM
Titan Machinery Discusses Strategic Divestitures, Market Downturn, and Inventory Progress
TITN
M&A
Demand Weakening
Guidance Update
- Titan Machinery, the largest CNH dealer globally, generates approximately 75% of revenue from equipment and just under 25% from parts and service, with parts and service contributing 50% or more of gross profit dollars. The company's strategy focuses on footprint density and dual-branding, leading to the recent divestiture of dealerships in Germany due to low CNH market share and struggles in that region.
- The company is navigating a market that is two years into a down cycle, with large ag industry volumes projected to be down 15%-20% in the upcoming year (FY 2026), potentially reaching the lowest point in decades.
- Titan Machinery has proactively managed inventory, reducing equipment inventories by approximately $550 million from a peak of $1.3 billion by January (end of FY 2026), aiming for a 2.5 times turn. Equipment margins improved from 3% in the first half of fiscal 2026 to 7% in Q3 fiscal 2026, and the company is working to reduce floor plan interest.
Jan 13, 2026, 2:00 PM
Titan Machinery Reports Q3 2026 Results with Inventory Optimization and Margin Expansion
TITN
Earnings
Guidance Update
Demand Weakening
- Titan Machinery reported Q3 2026 revenue of $644.5 million, a 4.8% decrease year-over-year, with net income of $1.2 million and earnings per diluted share of $0.05.
- The company achieved significant inventory optimization, reducing total inventory by $98 million in the first nine months of fiscal 2026 and raising its full-year reduction target to $150 million.
- Gross profit margin expanded to 17.2% in Q3 2026, up from 16.3% in the prior year, primarily due to a 70 basis point improvement in equipment margins, with domestic ag segment equipment margins reaching 7%.
- Strategic initiatives include divesting certain stores from the Heartland AG Systems integration and dealership operations in Germany, while expanding the dual-brand strategy in regions like Australia.
- Management indicated that equipment demand remains under pressure due to factors such as depressed commodity prices and high interest expenses, with no near-term recovery expected in the agricultural equipment market.
Nov 25, 2025, 1:30 PM
Titan Machinery Reports Q3 2026 Results and Updates Fiscal 2026 Guidance
TITN
Earnings
Guidance Update
Demand Weakening
- Titan Machinery reported Q3 2026 total revenue of $644.5 million, reflecting a 4.8% decrease in same-store sales year-over-year, with net income of $1.2 million and diluted earnings per share of $0.05. Gross profit margin expanded to 17.2%.
- The company made significant progress on inventory optimization, reducing total inventory by $98 million through the first nine months of fiscal 2026 and raising its full-year reduction target to $150 million.
- Fiscal 2026 revenue expectations were refined, with the Construction segment now projected to be down 5%-10% (previously down 3%-8%) and the Europe segment expected to be up 35%-40% (previously up 30%-40%).
- Titan Machinery reaffirmed its adjusted diluted loss per share guidance for fiscal 2026 in the range of -$1.50 to -$2.00, which includes an anticipated non-cash valuation allowance of $0.35-$0.45 per share in the fourth quarter.
- The company is undertaking footprint optimization initiatives, including divesting German dealership operations and certain Heartland Ag Systems stores, while expanding its dual-brand strategy in Australia and North America.
Nov 25, 2025, 1:30 PM
Titan Announces Q3 FY2026 Financial Results and Updates FY2026 Outlook
TITN
Earnings
Guidance Update
Demand Weakening
- Titan (TITN) reported Q3 FY2026 revenue of $644.5 million, pre-tax income of $2.8 million, and diluted earnings per share of $0.05.
- In Q3 FY2026, Agriculture segment revenue declined 12.7% to $420.9 million, and Construction segment revenue declined 10.1% to $76.7 million, while Europe segment revenue increased 87.6% to $117.0 million.
- For the full fiscal year 2026, Titan maintains its outlook for Agriculture segment revenue to be down 15% to 20% and Construction segment revenue down 5% to 10%, with Europe segment revenue projected to be up 35% to 40%.
- The company reported a diluted loss per share of $(0.79) for the first nine months of FY2026.
Nov 25, 2025, 1:30 PM
Titan Machinery Reports Q3 2026 Results
TITN
Earnings
Guidance Update
Demand Weakening
- TITN reported Q3 2026 total revenue of $644.5 million, a 4.8% decrease in same-store sales year-over-year, with net income of $1.2 million and earnings per diluted share of $0.05.
- The company made significant progress on inventory optimization, reducing total inventory by $98 million through the first nine months of fiscal 2026 and raising its full-year reduction target to $150 million.
- Gross profit margin expanded to 17.2% in Q3 2026, up from 16.3% in the prior year, driven by improved equipment margins, particularly in domestic ag, which reached 7% in Q3 compared to 3.1% in the first half of the fiscal year.
- For fiscal 2026, the company reaffirmed its adjusted diluted loss per share guidance in a range of a loss of $1.50-$2, noting an anticipated non-cash valuation allowance in Q4 that will increase tax expense by approximately $0.35-$0.45 per share.
- Segment-wise, Europe saw an 88% increase in same-store sales due to EU subvention funds, while domestic ag and construction experienced declines of 12.3% and 10.1% respectively.
Nov 25, 2025, 1:30 PM
Titan Machinery Inc. Announces Fiscal Third Quarter 2026 Results
TITN
Earnings
Guidance Update
Demand Weakening
- Titan Machinery Inc. reported revenue of $644.5 million for the fiscal third quarter ended October 31, 2025, a decrease from $679.8 million in the prior year period.
- Net income for the quarter was $1.2 million, resulting in diluted earnings per share of $0.05, compared to $1.7 million and $0.07, respectively, in the same period last year.
- The company achieved a cumulative inventory reduction of $98 million through the first nine months of fiscal 2026 and increased its full-year fiscal 2026 inventory reduction target to $150 million.
- Gross profit for Q3 2026 was $111.0 million, with a gross profit margin of 17.2%, an increase from 16.3% in the prior year period.
- Fiscal 2026 modeling assumptions were updated, with Construction segment revenue now expected to be down 5% - down 10% and Europe segment revenue up 35% - up 40%. The Adjusted Diluted Loss Per Share guidance of ($1.50) - ($2.00) now includes an anticipated non-cash valuation allowance of ($0.35) to ($0.45) per share in Q4.
Nov 25, 2025, 12:09 PM
Titan Machinery Reports Q2 2026 Results and Updates Guidance
TITN
Earnings
Guidance Update
Demand Weakening
- Titan Machinery reported a net loss of $6 million or $0.26 per diluted share for Q2 2026, compared to an adjusted net income of $4 million or $0.17 per diluted share in the prior year period. Total revenue decreased 14% to $546.4 million.
- The company narrowed its adjusted diluted loss per share guidance for fiscal year 2026 to a range of $1.5 to $2.
- Titan Machinery is confident it will exceed its $100 million inventory reduction target for the full year, having already achieved a cumulative equipment inventory reduction of $365 million from peak levels in Q2 of the prior year.
- Equipment margins are expected to remain subdued through fiscal 2026, with the full year consolidated equipment margin now projected at approximately 6.6%, a 100 basis point decrease from previous expectations.
Aug 29, 2025, 1:36 AM
Quarterly earnings call transcripts for Titan Machinery.
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