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What's in the Offing for Titan Machinery's (TITN) Q3 Earnings?

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·5 min read
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  • TITN
  • M
  • HD

Titan Machinery Inc. TITN is scheduled to report third-quarter fiscal 2022 results (ended Oct 31, 2021), before market open on Nov 23.

Q3 Estimates

The Zacks Consensus Estimate for fiscal third-quarter revenues is currently pegged at $430.3 million, indicating an increase of 19.2% from the prior-year quarter’s levels. The consensus mark for earnings is pegged at 61 cents per share, suggesting growth of 5.2% from the year-ago quarter’s levels. The earnings estimates have been stable in the past 60 days.

Q2 Results

In the last reported quarter, Titan Machinery’s revenues and earnings per share improved 24.4% and 97% year over year, respectively. The company beat the Zacks Consensus Estimate on both the counts.

Titan Machinery has surpassed the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average surprise being 90.2%.

Factors to Note

Titan Machinery’s fiscal third-quarter results are likely to reflect improved demand in the end markets across its segments. The company’s solid inventory position, continued success in reducing operating expenses and lower interest expenses might have favored the to-be-reported quarter’s performance.

Solid agriculture market fundamentals, including higher farm income and rising corn, soybean and wheat prices, might have driven Titan Machinery’s Agriculture segment’s fiscal third-quarter performance. Demand for technological advancement of existing equipment along with the need to replace aged fleet might have contributed to the top line. Strong part and service performance has been driving the segment’s revenues lately. The Zacks Consensus Estimate for the Agriculture segment’s fiscal third-quarter revenues is pegged at $273 million, suggesting year-over-year growth of 24%. However, intense drought conditions in some areas might have hurt the segment in the quarter.

The Construction segment’s fiscal third-quarter revenues are likely to reflect strong demand for new and used construction equipment on upbeat construction activity due to reopening of the economy, the low-interest rates, strength in the housing market and improved oil prices. The consensus mark for the Construction segment’s October-end quarter revenues is pegged at $78 million, suggesting a decline from the prior-year quarter’s $79 million.

In the International segment, improved farmer sentiment with strength in global commodity prices and good crop condition across its international footprint might have contributed to revenues in the quarter under review. Supply chain issues might have dented these gains somewhat. In the International segment, the consensus mark for revenues is pegged at $80 million, suggesting a rise of 31% from the prior-year quarter’s reported figure of $61 million.

For the to-be-reported quarter, the Zacks Consensus Estimate for operating profit for the Agriculture segment is pegged at $18.4 million, suggesting year-over-year growth of 35% from the prior-year quarter’s levels. The Construction segment is anticipated to report an operating profit of $0.5 million, suggesting a decline of 66% from the year-ago quarter’s levels. The Zacks Consensus Estimate for the International segment’s operating profit is pegged at $0.5 million, suggesting a turnaround performance from the year-ago quarter’s operating loss of $2.4 million.

Titan Machinery Inc. Price and EPS Surprise

Titan Machinery Inc. Price and EPS Surprise
Titan Machinery Inc. Price and EPS Surprise

Titan Machinery Inc. price-eps-surprise | Titan Machinery Inc. Quote

What the Zacks Model Indicates

Our proven model does not conclusively predict an earnings beat for Titan Machinery this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here, as you will see below.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Titan Machinery is 0.00%.

Zacks Rank: The company currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Price Performance

Titan Machinery’s shares have soared 87.2% in the past year, outperforming the industry’s rally of 59.5%.

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Stocks Poised to Beat Estimates

Here are some companies in the Zacks Retail-Wholesale sector that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Home Depot HD currently has an Earnings ESP of +2.04% and a Zacks Rank of 2. The Zacks Consensus Estimate for fourth-quarter fiscal 2022 earnings has moved up 2.5% in the past 30 days to $2.91 per share, suggesting year-over-year growth of 6.2%.

The Zacks Consensus Estimate for quarterly revenues is pegged at $33.1 billion, which indicates an improvement of 2.6% from the prior-year quarter’s levels. Home Depot has a trailing four-quarter earnings surprise of 12%, on average.

Lowe's Companies LOW currently has an Earnings ESP of +4.5% and a Zacks Rank of 2. The Zacks Consensus Estimate for third-quarter fiscal 2021 earnings has moved up 2.6% in the past 30 days to $2.33 per share, suggesting 17.7% growth from the year-ago quarter’s tally.

The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $21.9 billion, which suggests a decline of 1.8% from the year-ago quarter’s figures. Lowe’s has a trailing four-quarter earnings surprise of 10.1%, on average.

Macy's M currently has an Earnings ESP of +10.6% and a Zacks Rank #2. The Zacks Consensus Estimate for third-quarter fiscal 2021 earnings has moved up 34.6% in the past 30 days to 35 cents per share, calling for a turnaround from a loss of 19 cents reported in the year-ago quarter.

The Zacks Consensus Estimate for quarterly revenues is pegged at $5.33 billion, which indicates an year-over-year improvement of 33.5%. Macy’s has a trailing four-quarter earnings surprise of 269.8%, on average.


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Macy's, Inc. (M) : Free Stock Analysis Report

Lowe's Companies, Inc. (LOW) : Free Stock Analysis Report

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Titan Machinery Inc. (TITN) : Free Stock Analysis Report

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