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Last $13.13 USD
Change Today -0.07 / -0.53%
Volume 128.9K
TITN On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

titan machinery inc (TITN) Snapshot

Open
$13.20
Previous Close
$13.20
Day High
$13.82
Day Low
$12.92
52 Week High
04/14/14 - $20.40
52 Week Low
12/10/14 - $10.69
Market Cap
281.1M
Average Volume 10 Days
127.3K
EPS TTM
$0.35
Shares Outstanding
21.4M
EX-Date
--
P/E TM
37.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for TITAN MACHINERY INC (TITN)

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titan machinery inc (TITN) Details

Titan Machinery Inc. owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. The company operates through three segments: Agriculture, Construction, and International. It sells new and used equipment comprising agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers. The company’s agricultural equipment include application equipment and sprayers, combines and attachments, hay and forage equipment, planting and seeding equipment, precision farming technology, tillage equipment, and tractors for farming, and home and garden applications. The company’s construction equipment comprise articulated trucks, compact track loaders, compaction equipment, cranes, crawler dozers, excavators, forklifts, loader/backhoes, loader/tool carriers, motor graders, skid steer loaders, telehandlers, skid steers, and wheel loaders for commercial and residential construction, road and highway construction, and mining applications. Titan Machinery Inc. also sells maintenance and replacement parts of equipment that it sells, as well as for other types of equipment. In addition, the company provides repair and maintenance services consisting of warranty repairs, onsite repair services, and scheduling off-season maintenance services, as well as notifies customers of periodic service requirements; provides training programs to customers; and sells extended warranty services. Further, it rents equipment; and provides ancillary equipment support activities. As of March 9, 2015, the company operated a network of 92 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, Colorado, Arizona, and New Mexico, including 2 outlet stores; and 16 European dealerships in Romania, Bulgaria, Serbia, and Ukraine. Titan Machinery Inc. was founded in 1980 and headquartered in West Fargo, North Dakota.

2,497 Employees
Last Reported Date: 04/11/14
Founded in 1980

titan machinery inc (TITN) Top Compensated Officers

Founder, Chairman and Chief Executive Officer
Total Annual Compensation: $500.0K
President and Director
Total Annual Compensation: $500.0K
Chief Financial Officer and Chief Accounting ...
Total Annual Compensation: $285.0K
Compensation as of Fiscal Year 2014.

titan machinery inc (TITN) Key Developments

Titan Machinery Inc. Reports Preliminary Unaudited Financial Results for the Fourth Quarter and Fiscal Year Ended January 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016; to Implement Realignment Plan in First Quarter of Fiscal 2016; Provides Impairment Guidance for the Fourth Quarter Ended January 31, 2015

Titan Machinery Inc. reported preliminary unaudited financial results for the fourth quarter and fiscal year ended January 31, 2015. For the fourth quarter of fiscal 2015, revenue is expected to be approximately $491 million compared to revenue of $708.6 million in the fourth quarter last year. Pre-tax loss for the fourth quarter of fiscal 2015 is expected to be approximately $37 million. Excluding the non-cash impairment charges, realignment costs of $0.5 million and Ukraine currency devaluation of $0.8 million, adjusted pre-tax loss for the fourth quarter of fiscal 2015 is expected to be approximately $5 million. This compares to pre-tax income of $2.8 million in the fourth quarter last year, which included a $10.0 million non-cash impairment charge. Fourth quarter of fiscal 2014 adjusted pre-tax income was $12.8 million. Net loss attributable to common stockholders for the fourth quarter of fiscal 2015 is expected to be in the range of $26.3 million to $27.4 million, or $1.25 to $1.30 per diluted share. This net loss includes the non-GAAP adjustments totaling approximately $22.6 million or $1.07 per diluted share. Excluding these non-GAAP items, adjusted net loss attributable to common stockholders for the fourth quarter of fiscal 2015 is expected to be in the range of $3.7 million to $4.8 million, or $0.18 to $0.23 per diluted share. For the fourth quarter of fiscal 2014, net loss attributable to common stockholders was $0.4 million, or a loss per diluted share of $0.02. Excluding non-GAAP items totaling $7.8 million or $0.37 per share related to impairment and income tax valuation allowance on certain deferred tax assets of its International dealerships, adjusted net income attributable to common stockholders for the fourth quarter of fiscal 2014 was $7.4 million, or $0.35 per diluted share. For the full year ended January 31, 2015, revenue is expected to be approximately $1.90 billion compared to $2.23 billion last year. Pre-tax loss for fiscal 2015 is expected to be approximately $38 million. Excluding the non-cash impairment charge of $31 million, realignment costs of $3 million and Ukraine currency devaluation of $6 million, adjusted pre-tax income is expected to be approximately $2 million. This compares to pre-tax income of $18.4 million, or adjusted pre-tax income of $28.4 million last year. GAAP net loss attributable to common stockholders for fiscal 2015 is expected to be in the range of $30.9 million to $32.0 million, or $1.48 to $1.53 per diluted share. Adjusted net loss attributable to common stockholders for fiscal 2015 is expected to be in the range of $1.4 million to $2.5 million, or $0.07 to $0.12 per diluted share. For fiscal 2014, GAAP net income attributable to common stockholders was $8.7 million, or $0.41 per diluted share. Adjusted net income attributable to common stockholders for fiscal 2014 was $16.5 million, or $0.78 per diluted share. For the fiscal year ended January 31, 2015, net cash provided by operating activities is expected to be approximately $41.300 million on a GAAP basis. The company evaluates its cash flow from operating activities net of all floorplan payable activity. Taking this adjustment into account, adjusted net cash provided by operating activities is expected to be approximately $82.100 million for the fiscal year ended January 31, 2015. For the fiscal year 2016, the company’s pro forma benefit to pre-tax earnings of the headcount reduction is estimated to be approximately $21 million or $0.59 per share, which equates to a pro forma benefit of approximately $20 million or $0.56 per share for fiscal 2016. The company expects agriculture same store sales down 20% to 25%, construction same store sales flat, international same store sales flat and expects to be profitable on an adjusted diluted earnings per share basis. The company is recognizing non-cash impairment charges of approximately $31 million in the fourth quarter of fiscal 2015, primarily related to goodwill and other intangible assets within the Agriculture segment. To better align its business in certain markets, the company is reducing its headcount by approximately 14%, which includes headcount reductions at stores in each of its operating segments and its Shared Resource Center. This includes the closing of three Agriculture stores and one Construction store. In addition, the company is reducing discretionary spending levels across all parts of the business and is restructuring certain employee compensation and benefit programs to better align pay for performance. The realignment costs associated with the headcount reductions and store closings are estimated to total approximately $2.0 million, of which $0.1 million was recognized in the fourth quarter of fiscal 2015 and $1.9 million or $0.05 per diluted share is expected to be recognized in the first quarter of fiscal 2016.

Titan Machinery Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 31, 2014; Revised Earnings Guidance for the Fiscal Year Ending January 31, 2015

Titan Machinery Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2014. For the third quarter of fiscal 2015, revenue was $493.1 million, compared to $588.0 million in the third quarter last year. Income from operations was $15.2 million against $18.6 million reported last year. Pre-tax income for the third quarter of fiscal 2015 was $5.7 million against $18.6 million reported last year. Net income attributable to common stockholders for the third quarter of fiscal 2015 was $2.4 million, or earnings per diluted share of $0.11 against net income attributable to common stockholders of $5.7 million, or $0.27 per diluted share, in the third quarter last year. Adjusted net income attributable to common stockholders for the third quarter of fiscal 2015 was $2.9 million, or $0.14 per diluted share against $5.7 million, or $0.27 per diluted share reported last year. For the nine months ended October 31, 2014, revenue was $1.41 billion, compared to $1.52 billion in the same period last year. Income from operations was $28.9 million against $37.0 million reported last year. Loss before income taxes was $1.1 million against income before income taxes of $15.6 million reported last year. Net loss attributable to common stockholders for the first nine months of fiscal 2015 was $4.6 million, or loss per diluted share of $0.22. This compares to net income of $9.1 million, or $0.43 per diluted share, in the same period last year. Adjusted net earnings for the first nine months of fiscal 2015 was $2.3 million, or an earnings per diluted share of $0.11 against $9.1 million, or $0.43 per diluted share reported last year. Net cash used for operating activities was $82.6 million on a GAAP basis against $107.4 million reported last year. Adjusted net cash provided by operating activities was $0.7 million against adjusted net cash used for operating activities of $12.0 million reported last year. For the fiscal year ending January 31, 2015, the company is revising its annual outlook. The company expects revenue to be in the range of $1.85 billion to $2.0 billion, compared to its previous range of $1.9 billion to $2.1 billion. The company expects adjusted net income attributable to common stockholders to be in the range of $2.1 million to $6.4 million, compared to its previous range of $6.4 million to $12.7 million. The company also expects adjusted earnings per diluted share to be in the range of $0.10 to $0.30, compared to its previous range of $0.30 to $0.60, based on estimated weighted average diluted common shares outstanding of 21.1 million. The company expects GAAP net loss attributable to common stockholders to be in the range of $0.5 million to $4.8 million, compared to the previous range of breakeven to $6.3 million GAAP net income attributable to common stockholders, and GAAP loss per diluted share to be in the range of $0.02 to $0.23, compared to the previous range of $0.00 to $0.30 GAAP income per diluted share, based on estimated weighted average diluted common shares outstanding of 21.1 million. The company expects to generate annual Non-GAAP cash flow from operations in the range of $40.0 million to $60.0 million for fiscal 2015, compared to the previous range of $50.0 to $70.0 million.

Titan Machinery, Inc. to Report Q3, 2015 Results on Dec 10, 2014

Titan Machinery, Inc. announced that they will report Q3, 2015 results at 9:00 AM, Eastern Standard Time on Dec 10, 2014

 

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