Titan’s Q3 Numbers Slide

Titan Machinery saw revenues drop in its third quarter this year, falling from $493 million last year to $345.5. The company's equipment sales slid from $343.5 million for the third quarter last year to $215.7 million for the same quarter this year, a 37% decline.

The losses were offset by strategies Titan implemented in preparation for these challenges, including a $217 million (23%) reduction in inventory and $16 million (23%) cut in operating expenses.

The company anticipates that when its fiscal year concludes at the end of January 2016, same-store sales in agriculture will be down by 28 to 33%. It forecasts same-store sales in construction to be down by 8 to 13%. S