LONDON, UK / ACCESSWIRE / January 04, 2018 / Active-Investors.com has just released a free earnings report on Titan Machinery Inc. (NASDAQ: TITN) ("Titan"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TITN. Titan Machinery reported its third quarter fiscal 2018 operating results on November 30, 2017. The agriculture and construction equipment seller outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Titan Machinery most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the third quarter of fiscal 2018, Titan's revenue was $330.3 million compared to $332.3 million in Q3 FY17. The Company's revenue numbers topped analysts' estimates of $309.4 million.

During Q3 FY18, Titan's equipment sales were $216.0 million compared to $212.2 million in Q3 FY17. The Company's parts sales were $64.7 million for the reported quarter compared to $69.3 million in the year-ago same period. Titan's revenue generated from service was $31.5 million for Q3 FY18 compared to $33.8 million in Q3 FY17, while revenue from rental and other was $18.1 million versus $17.0 million in the year-earlier corresponding quarter.

Titan's gross profit for Q3 FY18 totaled $61.5 million compared to $58.4 million in Q3 FY17. The Company's gross profit margin was 18.6% in the reported quarter compared to 17.6% in the year-ago same period, primarily due to improved equipment margins.

For Q3 FY18, Titan's operating expenses decreased by $2.8 million to $50.4 million, or 15.2% of revenue, compared to $53.1 million, or 16.0% of revenue, for Q3 FY17. The Company stated that restructuring efforts that were completed early in the reported quarter are expected to continue to reduce operating expenses on a going forward basis. Titan's restructuring costs were $2.6 million for Q3 FY18. The restructuring costs recognized in the reported quarter are the result of the Company's restructuring plan that was announced on February 09, 2017, and subsequently led to the consolidation of 15 dealership locations. The Company anticipates completing all restructuring activities by the end of fiscal 2018.

During Q3 FY18, Titan's net income including non-controlling interest was $2.4 million, or earnings per diluted share of $0.11 compared to a net income including non-controlling interest of $0.3 million, or earnings per diluted share of $0.01, for Q3 FY17. On an adjusted basis, the Company's net income including non- controlling interest for the reported quarter was $4.4 million, or adjusted earnings per diluted share of $0.20, compared to adjusted net loss including non-controlling interest of $0.2 million, or adjusted loss per diluted share of $0.01, for the year-ago same period, and came in ahead of Wall Street's estimates of $0.08 per share.

Titan Machinery's Segment Results

During Q3 FY18, the Agriculture segment's revenue was $186.5 million compared to $205.5 million in Q3 FY17. The segment's pre-tax income for the reported quarter was $4.9 million compared to pre-tax loss of $1.8 million in the year-ago same period, while adjusted pre-tax income was $5.5 million compared to adjusted pre-tax loss of $2.3 million in Q3 FY17.

For Q3 FY18, the Construction segment's revenue totaled $72.9 million compared to $80.8 million in the year-earlier same quarter. The segment's pre-tax loss for the reported quarter was $2.4 million versus a pre-tax loss of $0.1 million in the year-ago comparable period, and adjusted pre-tax loss was $0.7 million compared to adjusted pre-tax income of $0.1 million in the year-earlier same quarter.

During Q3 FY18, the Company's international segment revenue was $70.9 million compared to $45.9 million in Q3 FY17. The increase in revenue was primarily due to increased equipment revenue as the result of the build-out of the Company's footprint, availability of subvention funds and positive crop conditions in certain of its markets. The segment's pre-tax income for Q3 FY18 was $2.5 million, compared to a pre-tax income of $0.6 million in Q3 FY17.

Balance Sheet and Cash Flow

Titan ended Q3 FY18 with $43.9 million of cash. The Company's inventory level increased to $529.8 million as of October 31, 2017, compared to $478.3 million as of January 31, 2017. This inventory increase included a $62.3 million increase in equipment inventory, which reflected an increase in new equipment inventory of $108.3 million, partially offset by a $46.0 million decrease in used equipment inventory. The Company had $322.4 million outstanding floorplan payables on $727.4 million total discretionary floorplan lines of credit as of October 31, 2017, compared to $233.2 million outstanding floorplan payables as of January 31, 2017.

During the first nine months of fiscal 2018, Titan repurchased $30.1 million face value amount of senior convertible notes with $29.5 million in cash. The Company has now retired $84.4 million, or approximately 56%, of the original face value of its senior convertible notes during fiscal 2017 and the first nine months of fiscal 2018 with $75.1 million in cash.

In the first nine months of fiscal 2018, Titan's net cash provided by operating activities was $56.0 million compared to $74.4 million in the first nine months of fiscal 2017. Taking these adjustments into account, adjusted net cash used for operating activities was $10.8 million in the first nine months of fiscal 2018, compared to adjusted net cash provided by operating activities of $34.4 million in first nine months of fiscal 2017.

Stock Performance Snapshot

January 03, 2018 - At Wednesday's closing bell, Titan Machinery's stock slightly rose 0.32%, ending the trading session at $21.74.

Volume traded for the day: 317.94 thousand shares, which was above the 3-month average volume of 188.26 thousand shares.

Stock performance in the last month ? up 0.79%; previous three-month period ? up 36.13%; past twelve-month period ? up 46.79%; and year-to-date ? up 2.69%

After yesterday's close, Titan Machinery's market cap was at $485.02 million.

The stock is part of the Services sector, categorized under the Industrial Equipment Wholesale industry. This sector was up 0.5% at the end of the session.

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