The stock may react positively to margin expansion and inventory improvements, but investors should monitor execution against challenging FY2027 revenue guidance, particularly in Agriculture and Europe segments.
Price Chart
Executive Summary
Titan Machinery reported fiscal 2026 full-year revenue of $2.427 billion, down 10.2% YoY, with a net loss of $54.2 million. Despite the revenue decline, the company achieved a $206 million inventory reduction and improved gross margins to 13.5% in Q4 (up from 6.7% YoY). Adjusted EBITDA increased to $13.9 million. Management guided for FY2027 revenue declines of 15-20% in Agriculture and 20-25% in Europe, but expects adjusted EBITDA to improve to $17–29 million.
Key Financial Metrics
Key Facts
- Fiscal 2026 revenue was $2.427 billion, down 10.2% YoY from $2.702 billion
- Net loss was $54.2 million ($2.38 per share), compared to $36.9 million ($1.63 per share) in FY2025
- Adjusted EBITDA was $13.9 million in FY2026, up from $12.8 million in FY2025
- Q4 gross margin improved to 13.5% from 6.7% YoY due to reduced inventory impairments
- Total inventory decreased by $205.6 million to $903.1 million
- FY2027 guidance calls for Agriculture revenue down 15-20%, Europe down 20-25%, but adjusted EBITDA expected to rise to $17–29 million
Financial Impact
Revenue down $275 million YoY, net loss widened by $17.3 million, but adjusted EBITDA improved and inventory reduced by $206 million
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Agriculture | $1.6B | -17.5% |
| Construction | $311.0M | -6.2% |
| Europe | $377.7M | +44.7% |
| Australia | $180.5M | -18.4% |
Risk Factors
- Continued revenue declines expected in key segments for FY2027
- Margin pressure from remaining aged inventory in first half of FY2027
- Softening demand due to lower commodity prices and high interest rates
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-019629 |
| Document: titn-20260319.htm | 0001628280-26-019629 |
| Document: 0001628280-26-019629-index-headers.html | 0001628280-26-019629 |
| Document: 0001628280-26-019629-index.html | 0001628280-26-019629 |
| Document: 0001628280-26-019629.txt | 0001628280-26-019629 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | SC 13G | $23.12 | awaiting T+20 | — | $23.26 (+0.63%) |
Jun 9, 2026 20w ago | 8-K | $20.61 $17.50 | ▼ −15.09% | ▼ −16.54% | $23.26 (+12.88%) |
May 19, 2026 23w ago | Press Release | $19.05 $19.41 | ▲ +1.89% | ▲ +0.90% | $23.26 (+22.13%) |
Apr 29, 2026 25w ago | DEFA14A | $20.27 $21.64 | ▲ +6.76% | ▲ +1.30% | $23.26 (+14.78%) |
Mar 19, 2026 31w ago | 8-K | $14.15 $20.35 | ▲ +43.82% | ▲ +36.20% | $23.26 (+64.42%) |
Mar 19, 2026 31w ago | Press Release | $14.15 $20.35 | ▲ +43.82% | ▲ +36.20% | $23.26 (+64.42%) |
Mar 5, 2026 33w ago | Press Release | $18.95 $17.24 | ▼ −9.02% | ▼ −5.24% | $23.26 (+22.77%) |
US Market Status
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