Titan Machinery Q3 EPS $1.82 beats prior; raises FY2023 EPS guidance to $4.55-$4.85

Titan Machinery Inc.

2023-Q3 EPS reported $3.70 revenue$1,626,323,000

Revenue $668.8M (+47.3% YoY); EPS $1.82 vs $0.97; net income $41.3M.
Raises FY2023 EPS guidance to $4.55-$4.85 from $3.70-$4.00; Agriculture revenue growth raised to 55-60%.
Adjusted EBITDA $63.5M (+80% YoY); pre-tax margin 8.2% (record).
CFO transition: Bo Larsen to succeed Mark Kalvoda effective Dec 1, 2022.
Inventories increased to $630.4M; operating cash flow negative $7.1M YTD vs +$72.3M prior year due to inventory build.

item 2.02 item 9.01 item 99.1

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Titan Machinery Inc. reported third quarter of fiscal 2023 ended October 31, 2022 results: revenue $668.8 million, net income $41.3 million, EPS $1.82. Guidance raised.

Period: third quarter of fiscal 2023 ended October 31, 2022
Revenue: $668.8 million
Net income: $41.3 million
EPS: $1.82
Guidance: raised
Result: reported results

Exact text from the filing

Titan Machinery Inc. Announces Results for Fiscal Third Quarter Ended October 31, 2022 - Revenue for Third Quarter of Fiscal 2023 Increased 47.3% to $668.8 million - - Third Quarter of Fiscal 2023 EPS Increased 88% to a Record $1.82 - - Increases Fiscal 2023 EPS Modeling Assumption in Range of $4.55-$4.85 -

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Source: SEC EDGAR

accession 0001409171-22-000083

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