Titan Machinery Q1 revenue up 23.7% to $461M, EPS $0.78; raises FY2023 guidance

Titan Machinery Inc.

2023-Q1 EPS reported $0.78 revenue$461,007,000

Revenue $461.0M (+23.7% YoY); GAAP EPS $0.78, adjusted EPS $0.79 (vs $0.46 prior year).
Agriculture segment revenue $318.5M (+38.8% YoY) with pre-tax income $16.4M vs $11.2M.
Construction same-store sales up 24.9%; total revenue $67.0M down slightly due to store divestitures.
International revenue $75.5M (flat YoY); pre-tax income $4.3M includes $0.7M Ukraine bad debt provision.
Raises FY2023 EPS guidance range to $2.85-$3.15 from $2.55-$2.85; completed Mark's Machinery acquisition in April.

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