Titan Machinery Earnings: Everything You Must Know Now

Titan Machinery, Inc. (NASDAQ:TITN) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Titan Machinery, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.36 in the year-earlier quarter.

Revenue: Rose 4.74% to $441.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Titan Machinery, Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company met the mean analyst estimate of $-0.02. It beat the average revenue estimate of $440.78 million.

Quoting Management: David Meyer, Titan Machinery’s Chairman and Chief Executive Officer, stated, “As we previously reported, our first quarter results were impacted by abnormally delayed spring weather. For our Agriculture segment, weather conditions in the second quarter have begun to normalize and the planting progress has significantly improved. We expect the Agriculture revenue that was delayed in the first quarter reflected primarily a timing issue and will be realized in the coming quarters. As a result, we continue to anticipate top line sales growth and are reiterating our annual 2014 sales guidance that we issued on our fiscal 2013 year-end release.”

Key Stats (on next page)…

Revenue decreased 43.7% from $784.51 million in the previous quarter. EPS decreased to $-0.02 in the quarter versus EPS of $0.73 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.37 to a profit $0.24. For the current year, the average estimate has moved down from a profit of $2.59 to a profit of $1.81 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)