Titan Machinery (TITN) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended July 2023, Titan Machinery (TITN) reported revenue of $642.57 million, up 29.4% over the same period last year. EPS came in at $1.38, compared to $1.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $599.73 million, representing a surprise of +7.14%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $1.15.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Titan Machinery performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Service: $42.48 million versus the two-analyst average estimate of $43.14 million. The reported number represents a year-over-year change of +27.3%.
Revenue- Equipment: $480.12 million versus $445.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +28% change.
Revenue- Rental and other: $11.46 million versus $12.14 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.6% change.
Revenue- Parts: $108.51 million compared to the $99.73 million average estimate based on two analysts. The reported number represents a change of +39.7% year over year.
Gross Profit- Equipment: $65.32 million compared to the $56.01 million average estimate based on two analysts.
Gross Profit- Rental and other: $4.38 million versus $4.63 million estimated by two analysts on average.
Gross Profit- Service: $28.27 million compared to the $27.60 million average estimate based on two analysts.
Gross Profit- Parts: $35.42 million versus the two-analyst average estimate of $32.09 million.
View all Key Company Metrics for Titan Machinery here>>>
Shares of Titan Machinery have returned -6.6% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Titan Machinery Inc. (TITN) : Free Stock Analysis Report
