Stock Monitor: W.W. Grainger Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 27, 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 fourth quarter and fiscal 2018 operating and financial results on March 29, 2018. The agriculture and construction equipment seller outperformed top- and bottom-line expectations and provided guidance for the fiscal year 2019. 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 fourth quarter of fiscal 2018, Titan's revenue grew 7% to $339.6 million compared to revenue of $317.6 million in Q4 FY17. The Company's reported numbers beat analysts' estimates of $315.0 million.

During Q4 FY18, Titan's Equipment sales were $252.6 million, up 11% compared to $226.9 million in Q4 FY17. The Company's Parts sales were $45.5 million for the reported quarter compared to $48.7 million in the year earlier same quarter. Titan's revenue generated from service was $26.5 million for Q4 FY18 compared to $28.0 million in Q4 FY17.

During Q4 FY18, Titan's gross profit increased 7% to $52.1 million compared to $48.8 million in Q4 FY17. The Company's gross profit margin was relatively flat at 15.3% in the reported quarter compared to 15.4% in the prior year's same quarter, as the impact of higher equipment margins was offset by a change in the Company's gross profit mix. For Q4 FY18, Titan's operating expenses were $50.3 million, or 14.8% of revenue, compared to $52.2 million, or 16.5% of revenue, for Q4 FY17.

In Q4 FY18, Titan's net income including non-controlling interest was $1.7 million, or $0.08 per diluted share, compared to a net loss including non-controlling interest of $8.2 million, or $0.38 per diluted share, for Q4 FY17.

On an adjusted basis, Titan's net loss including non-controlling interest was $2.1 million, or $0.10 per diluted share, compared to adjusted net loss including non-controlling interest of $6.6 million, or $0.31 per diluted share, for Q4 FY17. The adjusted amount for the reported quarter excluded a gain of $1.8 million that occurred as a result of the Tax Cuts and Jobs Act (Tax Act) enacted in December 2017 and a $2.4 million net benefit related to income tax valuation allowance adjustments. Titan's reported numbers were ahead of Wall Street's estimates for a loss of $0.14 per share.

For the fiscal year 2018, Titan's revenue was $1.20 billion compared to $1.21 billion in FY17.

Titan's net loss including non-controlling interest was $7.0 million, or $0.32 per diluted share, for FY18 compared to net loss including noncontrolling interest of $14.5 million, or $0.65 per diluted share, for FY17. The Company's adjusted net loss including noncontrolling interest for fiscal 2018 was $2.7 million, or $0.12 per diluted share, compared to $14.2 million, or $0.65 per diluted share, for the prior year.

Titan Machinery's Segment Results

During Q4 FY18, the Agriculture segment's revenue was $205.3 million compared to $201.1 million in Q4 FY17. The segment's pre-tax income was $2.2 million for the reported quarter compared to pre-tax loss of $5.9 million in the year ago corresponding period. The Agriculture segment's adjusted pre-tax income was $2.0 million for Q4 FY18 compared to an adjusted pre-tax loss of $4.8 million in Q4 FY17.

For Q4 FY18, the Construction segment's revenue totaled $85.8 million compared to $81.7 million in Q4 FY17. The segment's pre-tax loss was $3.2 million for the reported quarter versus a pre-tax loss of $4.4 million in the prior year's comparable quarter. The Construction segment's adjusted pre-tax loss was $2.6 million for Q4 FY18 compared to $3.0 million in Q4 FY17.

In Q4 FY18, the International Segment recorded revenue of $48.5 million compared to $34.8 million in Q4 FY17. The segment's pre-tax loss was $1.1 million for the reported quarter compared to pre-tax loss of $0.4 million in the year earlier same quarter. Titan's adjusted pre-tax loss was $1.1 million for Q4 FY18 compared to $0.1 million in Q4 FY17.

Cash Matters

Titan ended Q4 FY18 with $53.4 million of cash. The Company's equipment inventory level increased to $400.0 million as of January 31, 2018, compared to $395.7 million as of January 31, 2017. Titans' ratio of total liabilities to tangible net worth was 1.4 as of January 31, 2018.

During FY18, Titan repurchased $30.1 million in face value amount of its senior convertible notes with $29.5 million in cash. The Company has retired $84.4 million, or approximately 56%, of the original face value amount of its senior convertible notes during fiscal 2017 and 2018 with $75.1 million in cash.

For the fiscal year ended January 31, 2018, Titan's net cash provided by operating activities was $95.8 million. The Company's adjusted net cash provided by operating activities was $45.6 million for FY18 compared to $88.8 million for FY17.

Outlook

For fiscal year 2019, Titan is forecasting revenue growth in its Agriculture and International segment in the range of 0% to 5%, while in the Construction segment the Company is estimating growth between 3% to 8% on a y-o-y basis. Titan is projecting FY19 earnings in the range of $0.335 to $.055 per share.

Stock Performance Snapshot

April 26, 2018 - At Thursday's closing bell, Titan Machinery's stock fell 6.14%, ending the trading session at $19.25.

Volume traded for the day: 171.93 thousand shares.

Stock performance in the previous six-month period ? up 33.22%; and past twelve-month period ? up 19.20%

After yesterday's close, Titan Machinery's market cap was at $432.16 million.

The stock is part of the Services sector, categorized under the Industrial Equipment Wholesale industry. This sector was up 1.0% at the end of the session.

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