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    1. Distributor

    Titan Machinery Revenue Jumps 6 Percent in Fiscal Q2

    Aug. 29, 2019
    Distributor Titan Machinery posted $315 million in revenue for the fiscal second quarter of 2020, ended July 31, compared to $297.2 million in the second quarter of fiscal 2019, a 6-percent increase.

    Distributor Titan Machinery posted $315 million in revenue for the fiscal second quarter of 2020, ended July 31, compared to $297.2 million in the second quarter of fiscal 2019, a 6-percent increase. Rental revenue declined from $15 million in fiscal Q219 to $14.5 million, a decline of 3.3 percent.

    Parts revenue was $59.2 million compared to $55.5 million a year ago, a 6.7-percent increase. Service revenue also increased from $23.2 million a year ago to $26.8 in fiscal Q220, a 15.8-percent leap.

    For the first six months of the fiscal year, total revenue was $408.4 million compared to $371.4 million for the first six months of fiscal 2019, a 10-percent hike. Rental revenue was $24.1 million, compared to $24 million a year ago, essentially flat.

    For the first six months of the fiscal year, parts revenue jumped 8.6 percent, a 15 percent hike.

    “In the fiscal second quarter, we achieved better than expected growth in our Agriculture segment and our Construction segment achieved its fourth consecutive quarter of increased quarter-over-quarter top and bottom line results,” said Titan Machinery chairman and CEO David Meyer. “These positives were met with lower results from our International segment, which was impacted by unfavorable conditions and a tough comparison to the prior year.”

    The construction segment’s revenue for the fiscal second quarter was $84 million, compared to $77.5 million in the second quarter last year, an 8.4 percent increase.

    Primarily a Case dealership, Titan Machinery also features JLG, Bomag, Atlas Copco, Skyjack, Grove, Wacker Neuson, K-Tec and others. Based in West Fargo, N.D., the company is No. 53 on the RER 100.

    About the Author

    Michael Roth | Editor

    Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.