en.Wedoany.com Reported - Titan Machinery, the world's largest dealer of Case and New Holland equipment, reported declines in both revenue and profit for the first quarter of fiscal 2027.

Consolidated revenue for the quarter was $522 million, down 12.1% year-over-year. Equipment sales fell 16.5% to $365 million. In the aftermarket business, parts revenue decreased 1.7% to $103 million, while service revenue was $44 million, down just 0.5% from the same period last year. Rental and other revenue rose 29.1% to $10 million.

Total gross profit across all segments fell 1.8% to $89 million, but the gross margin for the first quarter improved to 17.1% from 15.3% in the same period last year. Titan Machinery attributed part of the margin improvement to the continued reduction of aging equipment inventory.

The net loss for the first quarter was $12.6 million, narrowing from a net loss of $13.2 million in the same period of the prior fiscal year.

By business segment, construction segment revenue fell 6.5% year-over-year to $68 million, primarily due to lower equipment sales. The segment posted a pretax loss of $0.6 million for the quarter, compared to a pretax loss of $4.2 million in the same period last year. Agricultural equipment revenue decreased 10.4% year-over-year to $344 million, impacted by lower equipment demand and weak grower profitability.

Looking ahead to fiscal 2027, Titan Machinery expects full-year construction equipment revenue to grow 0% to 5% year-over-year, while agricultural equipment revenue is projected to decline 15% to 20%. Titan Machinery operates locations in the U.S. states of North Dakota, South Dakota, Iowa, Minnesota, Nebraska, Wyoming, Idaho, Wisconsin, Kansas, and Colorado, as well as internationally in Romania, Bulgaria, Ukraine, and Australia.

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