Titan Machinery reports Q3 EPS 5c, consensus (30c)

Reports Q3 revenue $644.5M, consensus $593.97M. “Our Q3 results demonstrate continued progress on our inventory optimization initiatives, with cumulative inventory reductions of $98M through the first nine months of the fiscal year, positioning us to increase our reduction target from $100M up to $150M for the full year FY26,” stated Bryan Knutson, CEO. “Equipment margins beat expectations for the quarter driven by a more favorable sales mix and our improved inventory position, though we expect margins to moderate a bit in the fourth quarter as we look to continue our inventory optimization efforts. Additionally, as part of our broader footprint optimization strategy, we made select divestitures both domestically and in Germany, allowing us to focus our resources in markets where we can better leverage our operational expertise while delivering improved returns for our shareholders. Despite a challenging environment for the agriculture industry, our parts and service businesses continue to provide critical stability – keeping us closely engaged with our customers. We remain focused on positioning the business to emerge from this cycle stronger and better prepared for improved market conditions.”