Titan Q2 EPS $1.38, rev $642.6M (+29% YoY); acquires O'Connors in Australia

Titan Machinery Inc.

2024-Q2 EPS reported $2.56 revenue$1,212,199,000

Q2 FY2024 revenue $642.6M (+29.4%), diluted EPS $1.38 vs $1.10, net income $31.3M.
Acquiring J.J. O'Connor & Sons, largest Case IH dealer in Australia; Oct 2023 close expected with partial-year rev $70-90M.
Construction guidance raised to +5-10% (from flat); Europe lowered to +5-10% (from +8-13%); Agriculture reaffirmed +20-25%.
FY2024 diluted EPS guidance $4.60-$5.25 includes ~$0.10-$0.15 from O'Connors; underlying ex-O'Connors $4.50-$5.10.
Inventory $979.4M (up 39% since Jan 31); operating cash flow used $122.7M in H1 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 0.98

Titan Machinery Inc. reported fiscal second quarter ended July 31, 2023 results: revenue $642.6 million, net income $31.3 million, EPS $1.38.

Period: fiscal second quarter ended July 31, 2023
Revenue: $642.6 million
Net income: $31.3 million
EPS: $1.38
Result: reported results

Exact text from the filing

Titan Machinery Inc. Announces Results for Fiscal Second Quarter Ended July 31, 2023 - Revenue for Second Quarter of Fiscal 2024 Increased 29.4% to $642.6 million - - Second Quarter of Fiscal 2024 EPS Increased 25% to $1.38

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Source: SEC EDGAR

accession 0001409171-23-000066

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