Loading...
•
Jul 31, 2021
Titan Machinery Q2 2022 Earnings Report
Revenue increased by 24.4% to $377.6 million, GAAP EPS was $0.50, and adjusted EPS was $0.57.
Key Takeaways
Titan Machinery Inc. reported a strong second quarter with revenue increasing by 24.4% to $377.6 million. The company's GAAP EPS was $0.50 and adjusted EPS was $0.57. Equipment demand momentum continued with equipment revenues increasing 35% versus prior year.
Equipment revenue increased 35% versus prior year.
Consolidated pre-tax income growth of 89% compared to prior year second quarter.
Construction segment pre-tax income grew 105% versus the prior year.
International segment pre-tax income increased by $0.9 million, and on an adjusted basis by $2.4 million, versus the prior year.
Revenue by Segment
Forward Guidance
The Company's current expectations for fiscal 2022 modeling assumptions include increased revenue and diluted EPS.
Positive Outlook
- Agriculture revenue up 18-23%
- Construction revenue up 2-7%
- International revenue up 27-32%
- Diluted EPS $2.00 - $2.20
- Inventory shipments are allowing surpassing revenue targets.
Challenges Ahead
- Supply chains remain tight
- Includes the full year impact of the Phoenix and Tucson, AZ store divestitures in January 2021.
- Includes expenses related to ERP implementation.
- Drought conditions in areas of our footprint
- Uncertainty and fluctuating conditions in the capital and credit markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...