Titan Machinery Inc. (NASDAQ: TITN) has reported its financial results for the fiscal first quarter ended April 30, 2025. The company's revenue for the first quarter of fiscal 2026 was $594.3 million, compared to $628.7 million in the first quarter of the previous year. Equipment revenue was $436.8 million for the first quarter of fiscal 2026, down from $468.1 million in the first quarter of the previous year. Parts revenue was $105.6 million for the first quarter of fiscal 2026, compared to $108.2 million in the first quarter of the previous year. Revenue generated from service was $44.0 million for the first quarter of fiscal 2026, down from $45.1 million in the first quarter of the previous year. Revenue from rental and other was $7.9 million for the first quarter of fiscal 2026, compared to $7.3 million in the first quarter of the previous year.
Gross profit for the first quarter of fiscal 2026 was $90.9 million, compared to $121.8 million in the first quarter of the previous year. The company's gross profit margin was 15.3% in the first quarter of fiscal 2026, down from 19.4% in the first quarter of the previous year.
The company reported a net loss of $13.2 million for the first quarter of fiscal 2026, with a loss per diluted share of $0.58, compared to net income of $9.4 million, with earnings per diluted share of $0.41, for the first quarter of the previous year. EBITDA in the first quarter of fiscal 2026 was $2.6 million, compared to $30.9 million in the first quarter of the previous year.
In terms of segment results, the agriculture segment revenue for the first quarter of fiscal 2026 was $384.4 million, compared to $447.7 million in the first quarter of the previous year, reflecting a same-store sales decrease of 14.1%. The construction segment revenue for the first quarter of fiscal 2026 was $72.1 million, compared to $71.5 million in the first quarter of the previous year, reflecting a same-store sales increase of 0.9%. The Europe segment revenue for the first quarter of fiscal 2026 was $93.9 million, compared to $65.1 million in the first quarter of the previous year, which includes a $2.1 million negative impact related to foreign currency fluctuations. The Australia segment revenue for the first quarter of fiscal 2026 was $44.0 million, compared to $44.4 million in the first quarter of the previous year, which includes a $2.0 million negative impact related to foreign currency fluctuations.
The company's cash at the end of the first quarter of fiscal 2026 was $21.5 million. Inventories were flat at $1.1 billion as of April 30, 2025, compared to January 31, 2025. Outstanding floorplan payables were $769.6 million on $1.5 billion total available floorplan and working capital lines of credit as of April 30, 2025, compared to $755.7 million outstanding floorplan payables as of January 31, 2025.
Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $19.88. If you want to know more, read the company's complete 8-K report here.
