Titan Machinery (TITN) Fiscal Q2 2027 Earnings Call: Margins Improve, Guidance Reaffirmed
Source Tradingkey
Key Takeaways
- Fiscal Q2 2027 revenue declined to $496.4 million from $546.4 million, with same-store sales down 6.2%.
- Gross profit was nearly flat at $92.4 million despite lower sales. Gross margin expanded 150 basis points to 18.6%, while equipment margin rose 190 basis points to 8.5% as inventory health improved.
- Titan Machinery reported a net loss of $9.2 million, or $0.40 per share, versus a net loss of $6.0 million, or $0.26 per share, a year earlier. Adjusted EBITDA decreased to $4.6 million from $5.6 million.
- Domestic Agriculture remained under demand pressure, but its pretax loss improved by $9.0 million to $3.3 million. Construction same-store sales increased 9.2%, supported by infrastructure and data center activity.
- Management reaffirmed full-year adjusted EBITDA guidance of $17 million to $29 million and an adjusted diluted loss of $1.25 to $1.75 per share.
- The company raised its Construction and Australia revenue outlooks but lowered its Europe forecast amid weak equipment demand, geopolitical uncertainty and the wind-down of German operations.
Key Financial Data
| Metric | Fiscal Q2 2027 | Prior-year period | Change or context |
|---|---|---|---|
| Revenue | $496.4 million | $546.4 million | Same-store sales down 6.2% |
| Gross profit | $92.4 million | Approximately flat | Lower sales offset by stronger margins |
| Gross margin | 18.6% | — | Up 150 basis points |
| Equipment margin | 8.5% | — | Up 190 basis points |
| Operating expenses | $94.1 million | — | Modestly higher year over year |
| Floorplan and other interest expense | $8.1 million | $11.5 million | Down 30% |
| Net loss | $9.2 million | $6.0 million | Prior year included a $2.2 million tax benefit |
| Diluted loss per share | $0.40 | $0.26 | — |
| Adjusted EBITDA | $4.6 million | $5.6 million | — |
| Quarter-end inventory | $931.5 million | — | Up $28 million from fiscal year-end |
| Cash | Approximately $30 million | — | As of July 31, 2026 |
| Adjusted debt to tangible net worth | 1.6x | — | Below the 3.5x bank covenant |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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