Titan Machinery (TITN) Misses Q4 EPS by 5c, Revenues Beat; Offers FY20 EPS Guidance Below Consensus

Titan Machinery (NASDAQ: TITN) reported Q4 EPS of ($0.04), $0.05 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $359.6 million versus the consensus estimate of $354.82 million.

David Meyer, Titan Machinery’s Chairman and Chief Executive Officer, stated, “In the fiscal fourth quarter, we successfully captured seasonal year end North American agriculture equipment sales activity with strong equipment revenue resulting in solid cash flow generation and a healthy ending inventory position. We once again realized top and bottom line quarterly improvement in our Construction business as we continue to focus on operational initiatives. We are pleased with the integration of our recent German dealership acquisition (AGRAM) and anticipate continued contributions from this business going forward. The strength of our balance sheet, combined with improved year over year top and bottom line performance in all segments of our business, has us well positioned as we enter fiscal 2020.”

GUIDANCE:

Titan Machinery sees FY2020 EPS of $0.75-$0.95, versus the consensus of $0.96.

For earnings history and earnings-related data on Titan Machinery (TITN) click here.

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