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Get filing alertsTitan Machinery Q1 revenue falls 12% to $522M, narrows loss, reaffirms full-year guidance
Filed June 9, 2026 · Period ending June 9, 2026 · ~1 min read
Key Changes
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Q1 fiscal 2027 revenue declined 12.1% YoY to $522.4M, driven by equipment sales down 16.5% to $364.7M as agricultural demand softened amid continued pressure on grower profitability.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Gross margin improved 180 basis points to 17.1% from 15.3% prior year, driven by stronger equipment margins from aged inventory reductions and higher parts/service mix. Net loss narrowed to $12.6M ($0.55/share) from $13.2M ($0.58/share).
Exhibit 99.1 view on EDGAR → -
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Europe segment revenue dropped 35.6% to $60.4M, swinging to $0.9M pre-tax loss from $4.7M income, primarily due to lower equipment demand following the end of EU stimulus programs in Romania.
Exhibit 99.1 view on EDGAR → -
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Company reaffirmed fiscal 2027 guidance: Agriculture revenue down 15-20%, Adjusted EBITDA $17.0-$29.0M, Adjusted Net Loss $28.0-$40.0M ($1.25-$1.75/share), noting Q1 came in modestly better than expectations.
Exhibit 99.1 view on EDGAR → -
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Total inventories increased $11.7M sequentially to $914.8M at quarter-end, with floorplan payables rising to $589.0M from $553.8M against $1.5B in available credit lines.
Exhibit 99.1 view on EDGAR →
Summary
Titan Machinery reported first-quarter fiscal 2027 results showing revenue down 12% year-over-year to $522.4 million, with the decline concentrated in equipment sales as agricultural demand remains pressured by weak grower profitability.
Despite lower top-line, the company narrowed its net loss to $12.6 million from $13.2 million in the prior-year quarter, aided by a 180-basis-point improvement in gross margin to 17.1%. The margin expansion reflects progress reducing aged inventory and a favorable revenue mix shift toward higher-margin parts and service.
Segment performance was mixed: Agriculture and Construction both improved pre-tax losses despite revenue declines, while Europe swung to a loss as revenue fell 36% following the end of EU stimulus programs in Romania. Management reaffirmed full-year guidance calling for Agriculture revenue down 15-20% and an Adjusted Net Loss of $28-40 million, noting Q1 performance came in modestly better than internal expectations. Inventory increased $11.7 million sequentially to $914.8 million, with floorplan payables rising to $589 million against $1.5 billion in available credit. The results reflect a company navigating a challenging demand environment while making operational progress on margins and inventory management.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Titan Machinery announced Q1 fiscal 2027 financial results for the three months ended April 30, 2026.
Added in current filing · verify on EDGAR →
On June 9, 2026, Titan Machinery Inc. (the “Company”) issued a press release announcing its financial results for the three months ended April 30, 2026.
The company disclosed its financial results for the first quarter of fiscal year 2027, covering the three months ended April 30, 2026. A conference call to discuss these results was scheduled for 7:30 a.m. Central time on June 9, 2026.
Event · Item 99.1
Titan Machinery filed an 8-K disclosing a press release dated June 9, 2026, with no material event details provided in the filing body.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Press Release dated June 9, 2026
The company filed an 8-K referencing a press release dated June 9, 2026, as Exhibit 99.1. The filing body does not disclose the content of the press release, making it impossible to assess the materiality or nature of the announced event without reviewing the exhibit itself.
Event · Exhibit 99.1
Titan Machinery reported Q1 FY2027 results with revenue down 12.1% YoY to $522.4M, net loss improved to $12.6M, and reaffirmed full-year guidance.
Added in current filing · view on EDGAR →
For the first quarter of fiscal 2027, revenue was $522.4 million compared to $594.3 million in the first quarter last year. Equipment revenue was $364.7 million for the first quarter of fiscal 2027, compared to $436.8 million in the first quarter last year. Parts revenue was $103.8 million for the first quarter of fiscal 2027, compared to $105.6 million in the first quarter last year. Service revenue was $43.8 million for the first quarter of fiscal 2027, compared to $44.0 million in the first quarter last year. Rental and other revenue was $10.2 million for the first quarter of fiscal 2027, compared to $7.9 million in the first quarter last year.
Titan Machinery reported total revenue of $522.4 million for Q1 fiscal 2027, down 12.1% from $594.3 million in the prior-year quarter. The decline was driven primarily by equipment revenue falling 16.5% to $364.7 million, while parts, service, and rental revenue remained relatively flat. The revenue decrease reflects softening demand in agricultural equipment driven by continued pressure on grower profitability.
Added in current filing · view on EDGAR →
Gross profit for the first quarter of fiscal 2027 was $89.3 million, compared to $90.9 million in the first quarter last year. Gross profit margin was 17.1% in the first quarter of fiscal 2027, compared to 15.3% in the first quarter last year. ... In the first quarter of fiscal 2027, net loss improved to $12.6 million, with loss per diluted share of $0.55, compared to a net loss of $13.2 million, with loss per diluted share of $0.58, for the same period last year. Adjusted EBITDA in the first quarter of fiscal 2027 was $1.0 million, compared to $2.6 million in the first quarter last year.
Despite lower revenue, gross profit margin improved 180 basis points to 17.1% from 15.3% in the prior-year quarter, driven by stronger equipment margins from reductions in aged inventory and a higher mix of parts and service revenue. Net loss improved to $12.6 million ($0.55 per diluted share) from $13.2 million ($0.58 per share) in the prior year. Adjusted EBITDA declined to $1.0 million from $2.6 million.
Added in current filing · view on EDGAR →
Agriculture Segment - Revenue for the first quarter of fiscal 2027 was $344.2 million, compared to $384.4 million in the first quarter last year, reflecting a same-store sales decrease of 8.2%. ... Pre-tax loss for the first quarter of fiscal 2027 improved to $6.2 million, compared to pre-tax loss of $12.8 million in the first quarter last year. Construction Segment - Revenue for the first quarter of fiscal 2027 was $67.5 million, compared to $72.1 million in the first quarter last year, reflecting a same-store sales decrease of 6.5% ... Pre-tax loss for the first quarter of fiscal 2027 improved to $0.6 million, compared to pre-tax loss of $4.2 million in the first quarter last year. Europe Segment - Revenue for the first quarter of fiscal 2027 was $60.4 million, including a $4.2 million benefit related to foreign currency fluctuations versus the prior year period, compared to $93.9 million in the first quarter last year. ... Pre-tax loss for the first quarter of fiscal 2027 was $0.9 million, compared to pre-tax income of $4.7 million in the first quarter last year.
Agriculture segment revenue declined 10.4% to $344.2 million with same-store sales down 8.2%, but pre-tax loss improved to $6.2 million from $12.8 million. Construction segment revenue fell 6.5% to $67.5 million, with pre-tax loss improving to $0.6 million from $4.2 million. Europe segment revenue dropped 35.6% to $60.4 million (down 40.2% excluding foreign currency benefits), swinging to a $0.9 million pre-tax loss from $4.7 million income, primarily due to lower equipment demand following the end of EU stimulus programs in Romania.
Added in current filing · view on EDGAR →
Total inventories increased by $11.7 million to $914.8 million as of first quarter end, as compared to January 31, 2026. Equipment inventories increased by $10.4 million in the first quarter ended April 30, 2026. Outstanding floorplan payables were $589.0 million on $1.5 billion total available floorplan and working capital lines of credit as of April 30, 2026, compared to $553.8 million outstanding floorplan payables as of January 31, 2026.
Total inventories increased $11.7 million sequentially to $914.8 million at quarter-end, with equipment inventories up $10.4 million. Floorplan payables increased to $589.0 million from $553.8 million at fiscal year-end, against $1.5 billion in total available floorplan and working capital credit lines. The company continues to focus on inventory optimization and reducing aged inventory.
Added in current filing · view on EDGAR →
The Company reaffirms its previously issued guidance; the following is a summary of its current expectations for fiscal 2027 modeling assumptions: ... Agriculture Down 15% - Down 20% ... Construction Flat - Up 5% ... Europe (1) (2) Down 20% - Down 25% ... Australia Up 10% - Up 15% ... Adjusted EBITDA $17.0 - $29.0 ... Adjusted Consolidated Pre-tax Loss (1) ($28.0) - ($39.0) ... Tax Expense $0.0 - $1.0 ... Adjusted Net Loss (1) ($28.0) - ($40.0) ... Adjusted Diluted Loss Per Share (1) ($1.25) - ($1.75)
Titan reaffirmed its full fiscal 2027 guidance, expecting Agriculture segment revenue down 15-20%, Construction flat to up 5%, Europe down 20-25%, and Australia up 10-15%. The company projects Adjusted EBITDA of $17.0-$29.0 million, Adjusted Net Loss of $28.0-$40.0 million, and Adjusted Diluted Loss Per Share of $1.25-$1.75. Management noted that while Q1 performance came in modestly better than expectations, the underlying industry demand environment remains challenged.
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