Published on 26 May 2023 on Zacks via Yahoo Finance
Titan Machinery (TITN) Q1 Earnings Top Estimates, Sales Miss
Titan Machinery Inc. TITN reported first-quarter fiscal 2024 (ended Apr 30, 2023) earnings per share (EPS) of $1.19, beating the Zacks Consensus Estimate of $1.00. The bottom line improved 55% from earnings per share of 78 cents reported in the last fiscal year’s comparable quarter.Total revenues in the reported quarter were $570 million, up 23.6% from the levels reported in the previous fiscal year’s comparable quarter. The top line, however, missed the consensus mark of $586 million.Equipment revenues rose 20.5% year over year to $429 million and parts revenues were up 41% to $97 million. Revenues generated from services were $35 million in the reported quarter, up 18% from the year-ago quarter’s levels. Meanwhile, rental revenues were up 32% year over year to $8.7 million.
Titan Machinery Inc. Price, Consensus and EPS Surprise