10-Q · June 9, 2026
Titan Machinery Inc. reported Q1 fiscal 2027 results with revenues of $522.4 million, a 12.1% decline from the prior year. The company recorded a net loss of $12.6 million, or $0.55 per diluted share, slightly improved…
Earnings analysis · 10-Q
TITN earnings analysis
Filed September 3, 2026 · Our reading of the company's report
The latest report
Titan Machinery delivered $496.4 million of quarterly revenue, beating consensus by 2.38%, while posting a $0.40 EPS loss versus the $0.35 estimate. Gross margin improved 150 basis points to 18.6%, but Europe demand…
Read full summary
Titan Machinery delivered $496.4 million of quarterly revenue, beating consensus by 2.38%, while posting a $0.40 EPS loss versus the $0.35 estimate. Gross margin improved 150 basis points to 18.6%, but Europe demand weakened materially and the company remains loss-making. Fiscal 2027 adjusted loss-per-share guidance was maintained at ($1.75)-($1.25), with improved Construction and Australia assumptions offset by a sharper expected European decline. The filing reports no material changes to the risk factors from the January 31, 2026 Form 10-K.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.4
- Gross margin
- 18.6%
What stood out
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Revenue Beat Consensus
Quarterly revenue was $496.4 million, 2.38% above the $484.8 million consensus estimate, although the filing data indicates a weaker demand backdrop in key agriculture markets.
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Gross Margin Expanded 150 bps
Gross margin expanded 150 basis points to 18.6%, indicating improved execution and inventory clearing versus the prior reported period.
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Full-Year Loss Guidance Reaffirmed
Management reaffirmed fiscal 2027 adjusted diluted loss-per-share guidance of ($1.75)-($1.25), despite the quarterly adjusted EPS loss of $0.40 versus the $0.35 consensus estimate.
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Construction and Australia Outlook Improved
Construction revenue expectations were raised to growth of 5%-10% from flat-to-up 5%, while Australia expectations increased to growth of 15%-20% from 10%-15%.
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Large Non-Interest-Bearing Floorplan Base
The company reported $623.6 million of floorplan payables at July 31, 2026, including $351.7 million that was non-interest bearing, supporting inventory financing flexibility.
What to watch
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Europe Demand Deterioration
Europe revenue expectations were lowered to a decline of 30%-40% from the prior outlook of down 20%-25%, signaling materially weaker regional demand.
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EPS Miss and Continuing Losses
The quarterly EPS loss was $0.40 versus the $0.35 consensus estimate, a $0.05 miss, despite the revenue beat; profitability remains under pressure.
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Interest-Rate and Leverage Exposure
A one-percentage-point change in interest rates would affect pretax earnings and cash flow by approximately $2.7 million. Of $623.6 million in floorplan payables, approximately $271.8 million was variable-rate.
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Long-Term Debt Burden
At July 31, 2026, total long-term debt, including finance lease obligations, was $221.6 million, primarily fixed-rate debt, adding to the company’s financing burden.
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Ukraine Currency and Geopolitical Risk
The Ukrainian subsidiary had $2.7 million of net monetary assets denominated in Ukrainian hryvnia; continued Russia/Ukraine conflict-related devaluation or payment controls could adversely affect results and cash flows.
Management's outlook
Fiscal 2027 adjusted diluted loss-per-share guidance was reaffirmed at ($1.75)-($1.25). Segment assumptions were revised to Construction revenue growth of 5%-10% from flat-to-up 5%, Europe revenue decline of 30%-40% from down 20%-25%, and Australia revenue growth of 15%-20% from up 10%-15%.
Earlier filings 4
10-K · March 31, 2026
Titan Machinery Inc. reported revenues of $2.43 billion for the fiscal year ending January 31, 2026, reflecting a decline of 10.2% from fiscal 2025, largely due to challenging agricultural market conditions. While the…
10-Q · December 4, 2025
Titan Machinery Inc. reported a mixed Q3 2026 performance with revenues of $680 million, which was a slight increase compared to the prior quarter but a 5.2% decline year-over-year. Despite the decrease in revenue, the…
10-Q · September 4, 2025
Titan Machinery Inc. delivered mixed results for the second quarter of fiscal 2026, with revenue of $546.4 million, showing a 13.8% decrease year-over-year. The company reported a net loss of $6 million, or $0.26 per…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.