Titan Machinery Inc. Announces Results for Fiscal First Quarter Ended April 30, 2018

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Go back to Titan Machinery Inc. Announces Results for Fiscal First Quarter Ended April 30, 2018

Titan Machinery (TITN) Tops Q1 EPS by 1c, Revenues Miss

May 31, 2018 6:47 AM EDT

Titan Machinery (NASDAQ: TITN) reported Q1 EPS of ($0.07), $0.01 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $246 million versus the consensus estimate of $276.27 million.

David Meyer, Titan Machinerys Chairman and Chief Executive Officer, stated, "During the first quarter, we experienced improvements in gross and pre-tax margins driven by higher equipment margins, lower interest expense and our better-positioned expense structure. These results were partially offset by the late start to the spring planting season, which affected certain areas of our business including parts and service revenue. Overall, our first quarter margin... More