Thursday, May 25, 2017

Titan Machinery Reports Q1 USA SALES DECLINE 17% and Lowers FY2018 EPS Guidance

Titan Machinery Chairman announces in FY2018  press release this morning that 
 "the cost savings for fiscal 2018 will be less than previously expected."

TOTAL Fy2018 Q1 US SALES Declined 17% vs Q1 Fy2017
USA Sales Declined from $157 million to $131 million

Titan Machinery (NASDAQ: TITN $15.67)
First Quarter Results 
                                    FY2015      FY2016    FY2017    FY2018
Equipment Revenue    $345m        $244m      $184m      $168m   
Total Revenue             $465m        $353m      $284m      $264m
Net Income (loss)       -($6.5m)    -($6.2m)   -($3.6m)    -($5.9m)
EPS (loss)                    -($0.31)     -($0.29)    -($0.17)     -($0.27)

Stockholder Equity                     Stock                    Market Cap
April 30,2014:  $405,000,000    $16.50 (5/2014)     $365M 
April 30,2017:  $317,000,000    $17.00 (5/2017)     $375M

Titan Closing 15 locations (20% of USA stores) and Schedules Auction Liquidations to unload inventory to raise additional cash to service debt. 
Management Agrees to Pay CoFounder (former President) $650,000 severence.

Income (LOSS) before income taxes)
FY2015: -($38,340,000)
FY2016: -($56,211,000)
FY2017: -($22,713,000)
total loss for 3 years: -($117,264,000)

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