earnings
confidence high
sentiment positive
materiality 0.80
Titan Machinery Q2 revenue up 31.5% to $496.5M, record EPS $1.10, raises FY2023 EPS guidance to $3.70-$4.00
Titan Machinery Inc.
2023-Q2 EPS reported
$1.88
revenue$957,549,000
- Revenue $496.5M (+31.5% YoY); net income $25.0M vs $11.2M; diluted EPS $1.10 vs $0.50.
- Raises FY2023 diluted EPS guidance to $3.70-$4.00 from $2.90-$3.20; agriculture revenue growth guidance raised to 50-55%.
- Agriculture revenue $349.0M (+59% YoY); Construction same-store sales up 14.9%; International constant currency revenue up 11.3%.
- Heartland Ag Systems acquisition closed Aug 2022; expects revenue synergies and extended favorable agriculture cycle.