Titan Machinery (NASDAQ:TITN) stock is falling hard on Thursday following the release of its preliminary earnings report for the second quarter of fiscal 2025.
That starts with the company expecting revenue of approximately $634 million during the quarter. This would miss Wall Street’s revenue estimate of $634.6 million for the period. Titan Machinery attributes this to softer retail demand than it expected.
That earnings report also includes expectations for adjusted earnings per share of 17 cents, which would match what Wall Street is expecting from the company. However, this is a significant drop from the $1.38 per share reported in the same period of the year prior.
Bryan Knutson, president and CEO of Titan Machinery, said the following in the earnings report:
“Lower commodity prices and sustained high interest rates, along with mixed growing conditions across our footprint, have negatively affected farmer sentiment resulting in lower agriculture equipment sales in our fiscal second quarter.”
2025 Outlook Slams TITN Stock
Titan Machinery also updated its fiscal 2025 guidance alongside these preliminary earnings. It expects adjusted EPS to range from flat to 50 cents. Its prior guidance was adjusted EPS of $2.25 to $2.75. The new guidance is well below Wall Street’s estimate of $2.26 per share.
TITN stock is down 24.5% as of Thursday morning.
Investors will want to stick around for more of the most recent stock market stories today!
We have all of the hottest stock market news investors need to know about on Thursday. That includes what’s going on with shares of Turnstone Biologics (NASDAQ:TSBX) stock, SciSparc (NASDAQ:SPRC) stock and VS Media (NASDAQ:VSME) stock today. You can catch up on all of these matters at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
