Heavy equipment distributor Titan Machinery (NASDAQ: TITN) will be reporting earnings today before market open. Here’s what to look for.
Titan Machinery beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $679.8 million, down 2.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ EPS estimates.
Is Titan Machinery a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Titan Machinery’s revenue to decline 14.5% year on year to $728.6 million, a reversal from the 46.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.63 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Titan Machinery has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Titan Machinery’s peers in the specialty equipment distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. SiteOne delivered year-on-year revenue growth of 5%, beating analysts’ expectations by 1.3%, and Custom Truck One Source reported flat revenue, falling short of estimates by 3.7%. SiteOne traded up 5.9% following the results while Custom Truck One Source was also up 20.8%.
Read our full analysis of SiteOne’s results here and Custom Truck One Source’s results here.
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