Titan Machinery (TITN) Reports Q3 Earnings: What Key Metrics Have to Say
Titan Machinery (TITN) reported $694.12 million in revenue for the quarter ended October 2023, representing a year-over-year increase of 3.8%. EPS of $1.32 for the same period compares to $1.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $723.27 million, representing a surprise of -4.03%. The company delivered an EPS surprise of -12.58%, with the consensus EPS estimate being $1.51.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $44.77 million versus the two-analyst average estimate of $43.68 million. The reported number represents a year-over-year change of +14.9%.
Revenue- Equipment: $521.78 million compared to the $547.59 million average estimate based on two analysts. The reported number represents a change of +2.5% year over year.
Revenue- Rental and other: $12.61 million versus the two-analyst average estimate of $15.02 million. The reported number represents a year-over-year change of +4.2%.
Revenue- Parts: $114.96 million versus $118.15 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
Gross Profit- Equipment: $67.18 million versus the two-analyst average estimate of $69.25 million.
Gross Profit- Rental and other: $4.41 million compared to the $5.59 million average estimate based on two analysts.
Gross Profit- Service: $30.37 million compared to the $28.08 million average estimate based on two analysts.
Gross Profit- Parts: $36.38 million compared to the $37.71 million average estimate based on two analysts.
View all Key Company Metrics for Titan Machinery here>>>
Shares of Titan Machinery have returned +2.3% over the past month versus the Zacks S&P 500 composite's +10.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform 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
