Titan Machinery (TITN) Slammed on Q2 Profit Miss, Cut EPS Outlook for FY13

September 10, 2012 9:27 AM EDT
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Titan Machinery (Nadaq: TITN) is getting hit Monday following frumpy second-quarter 2013 results and cut guidance for fiscal 2013.

EPS of 25 cents came in 18 cents below views, though sales beat the consensus.

Looking ahead, Titan lowered its fiscal 2013 EPS outlook from $2.55 to $2.75 down to a range of $2.10 to $2.30. The Street is expecting EPS of $2.64.

The new range means Titan expects limited growth in fiscal 2013. The company reported FY12 EPS of $2.18 when it issued first estimates for FY13 EPS.

Shares are down 14 percent early.

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