Titan Machinery Q3 revenue beats estimates, raises inventory reduction target

Overview

• Titan Machinery Q3 fiscal 2026 revenue beats analyst expectations

• Adjusted EPS for fiscal Q3 beats consensus, reflecting improved equipment margins

• Company achieved $98 mln inventory reduction, raises fiscal 2026 target to $150 mln

Outlook

• Titan Machinery raises fiscal 2026 inventory reduction target to $150 mln

• Company expects equipment margins to moderate in Q4 due to inventory efforts

• Titan anticipates non-cash valuation allowance increasing Q4 tax expense by $0.35-$0.45/share

Result Drivers

• INVENTORY OPTIMIZATION - Titan Machinery achieved $98 mln inventory reduction, contributing to improved equipment margins

• SALES MIX - Equipment margins beat expectations due to favorable sales mix and improved inventory position

• FOOTPRINT OPTIMIZATION - Strategic divestitures in U.S. and Germany to focus resources on profitable markets

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

• Wall Street's median 12-month price target for Titan Machinery Inc is $24.00, about 31.5% above its November 24 closing price of $16.45

Press Release: ID:nGNX1bSXf5

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