Titan Machinery’s fourth quarter revenue is up 6.6 percent over last year to $359.6 million. Gross profits for the quarter are up $3.5 million from last year to $55.6 million. Titan Machinery Chief Financial Mark Kalvoda says equipment revenue drove the gross profits. “The benefit of higher equipment margins is largely offset by a change in gross profit mix, which was a result of a higher portion of equipment revenue as compared to higher margin parts and service revenue.” Full year revenue increased 5.8 percent to $1.3 billion and net income for the 2019 fiscal year was $12.2 million. Kalvoda says the increase in revenue is largely by equipment and parts sales.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.