Titan Machinery (TITN) Releases Earnings Results, Misses Expectations By $-0.07 EPS

Titan Machinery (TITN) reported quarterly earnings results on Thursday, Aug-25-2016. The company reported $-0.12 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $-0.05. The company posted revenue of $278.30 million in the period, compared to analysts expectations of $291.62 million. The company’s revenue was down -16.7% compared to the same quarter last year.

Titan Machinery opened for trading at $10.77 and hit $11.5 on the upside on Tuesday, eventually ending the session at $11.46, with a gain of 6.31% or 0.68 points. The heightened volatility saw the trading volume jump to 1,03,143 shares. Company has a market cap of $247 M.

Titan Machinery Inc. owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company has three segments: Agriculture Construction and International. Within its segments it engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services and equipment rental and other activities. It sells new agricultural and construction equipment manufactured under the CNH Industrial family of brands as well as equipment from a variety of other manufacturers. The used equipment it sells is primarily from inventory purchased through trade-ins from its customers and selective purchases. It sells parts and provide in-store and on-site repair and maintenance services. It also rents equipment and provides ancillary services such as equipment transportation global positioning system (GPS) signal subscriptions and finance and insurance products.

Titan Machinery

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