earnings
confidence high
sentiment positive
materiality 0.82
Titan Machinery reports record FY2022 EPS $2.92, guides FY2023 $2.55-$2.85; acquires Mark's Machinery
Titan Machinery Inc.
2022-FY EPS reported
$2.92
revenue$1,711,906,000
- Full-year FY2022 revenue $1.7B (+21.3% YoY); GAAP EPS $2.92, Adj EPS $2.98 (up 173% YoY).
- Q4 FY2022 net income $22.4M ($0.99/diluted EPS) vs $0.8M ($0.03) prior year; includes one-time benefits from incentives and store sale.
- FY2023 guidance: diluted EPS $2.55-$2.85; Agriculture rev +22-27%, Construction -12-17%, International -8-13%; Ukraine headwind ~$0.25/share.
- Acquiring Mark's Machinery (two Case IH dealerships in SD); all cash; expected close April 2022; accretive to EPS.
- Ukraine exposure: <5% of total revenue/assets; at-risk assets ~$28M; expects $0.25 EPS loss in FY2023.