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

Titan Machinery (TITN) announced its most recent quarterly financial results on Wednesday, Nov-30-2016. TITN reported $-0.01 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $0.06. The company posted revenue of $332.30 million in the period, compared to analysts expectations of $305.77 million. TITN’s revenue was down -3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Titan Machinery opened for trading at $12.61 and hit $13.03 on the upside on Tuesday, eventually ending the session at $12.96, with a gain of 2.53% or 0.32 points. The heightened volatility saw the trading volume jump to 1,64,089 shares. Company has a market cap of $280 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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