Titan’s Ag Segment Sets Quarterly Margin Record

Titan Machinery reported a 37 percent increase in consolidated revenue for the third quarter.

Chairman and CEO David Meyer said this about the strong quarter: “The combination of our larger base of revenues, healthy inventory position and lean infrastructure has allowed for powerful operating leverage that drove a 109 percent increase in pre-tax income for the quarter. At the segment-level, this operating leverage is visible in our agriculture segment, which benefited from better-than-expected crop yields across our footprint, and produced a pre-tax margin of 7 percent, which is a record quarterly high margin for the segment.”

Source: Titan Machinery