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Jul 31, 2020
Titan Machinery Q2 2021 Earnings Report
Reported solid second quarter top and bottom line performance.
Key Takeaways
Titan Machinery Inc. reported revenue of $303.5 million and a GAAP EPS of $0.28 for the second quarter of fiscal 2021. The company's Agriculture segment showed growth in pre-tax income, driven by parts and service businesses. Modeling assumptions for the full fiscal year 2021 were introduced.
Revenue for the second quarter of fiscal 2021 was $303.5 million.
GAAP EPS for the second quarter of fiscal 2021 was $0.28, and adjusted EPS was $0.29.
Agriculture segment produced 9.3% growth in pre-tax income.
Company introduced modeling assumptions for fiscal full year 2021.
Titan Machinery
Titan Machinery
Titan Machinery Revenue by Segment
Revenue by Segment
Agriculture Revenue
CapyFin.comConstruction Revenue
CapyFin.com Forward Guidance
The Company is introducing annual modeling assumptions for fiscal year 2021, which are expected to be impacted by the challenging global economy due to the COVID-19 pandemic.
Positive Outlook
- Agriculture: Up 0-5%
- Diluted EPS: $0.55 - $0.75
- Adjusted Diluted EPS: $0.65 - $0.85
Challenges Ahead
- Construction: Down 5-10%
- International: Down 10-15%
- Excludes approximately $0.10 per diluted share impact of anticipated ERP-related expenses. The new ERP system is anticipated to be implemented in the first half of fiscal 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income