Titan Machinery Q2 Earnings Beat Estimates

  • Titan Machinery Inc TITN reported second-quarter FY22 sales growth of 24.4% year-on-year, to $377.63 million, beating the analyst consensus of $372.72 million.
  • Equipment sales increased 34.5% Y/Y, and Parts sales rose 6.2%.
  • Gross profit rose 19.6% Y/Y to $75 million, and the margin fell 80 basis points to 19.9%.
  • Operating expenses climbed 7.5% Y/Y to $57.1 million.
  • The operating margin was 4.4%, and operating income for the quarter rose 71.1% to $16.4 million.
  • The company held $65.6 million in cash and equivalents as of July 31, 2021.
  • Net cash provided by operating activities for the six months totaled $28.6 million.
  • Adjusted EBITDA of $23.5 million rose 48.7% Y/Y.
  • Adjusted EPS of $0.57 beat the analyst consensus of $0.44.
  • Outlook: Titan Machinery raised FY22 EPS outlook to $2.00 - $2.20 (prior $1.65 - $1.85) versus the consensus of $1.85.
  • The company noted supply chains remain tight.
  • Price Action: TITN shares are trading lower by 1.96% at $29.34 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!