Lower Margins, Drought Concerns Weigh on Titan Machinery’s 2Q Earnings

Despite a revenue increase of 32% in its second quarter ended July 31, Titan Machinery (TITN), pressured by tight margins and farmer uncertainty caused by the widespread drought throughout the country’s major growing regions, saw its profits for the period fall by 17%. As a result, the company lowered its outlook for net income for the full-fiscal year. 

Titan, which is Case IH’s largest ag equipment retailer, with 99 locations and two outlet stores in…

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