Sales Take a Dip at Titan, Expenses Down, Too

Revenue for the first quarter of 2019 at Titan Machinery was $246 million compared to $264.1 million in the first quarter last year. Equipment sales were $156.9 million for the first quarter, compared to $167.9 million last year.

Operating expenses decreased by $5.3 million to $46.7 million, or 19.1 percent of revenue, for the first quarter, compared to $52.0 million, or 19.6 percent of revenue, for the first quarter of last year. These decreases are primarily the result of cost savings arising from the company’s fiscal 2018 restructuring efforts.

“Overall, our first quarter margin improvements highlight the enhancements we’ve made to our operating model, and we believe this is setting the foundation for stronger top and bottom line results in fiscal 2019,” said David Meyer, Titan Machinery’s chairman and CEO.

Source: StreetInsider.com