Titan Machinery Inc

NASDAQ:TITNUnited States

Income Taxes $ 275 $40,452 $ 8,809 $117,483 Adjustments Impact of sale-leaseback financing expense (1) -- -- 11,159 -- ------ ------ ------ ------- Total Adjustments -- -- 11,159 -- ------ ------ ------ ------- Adjusted Income Before Income Taxes $ 275 $40,452 $19,968 $117,483 ====== ====== ====== ======= EBITDA Net Income $ 1,713 $30,193 $ 6,850 $ 88,479 Adjustments Interest expense, net of interest income (3) 4,139 1,380 10,119 3,655 Provision for income taxes (1,438) 10,259 1,959 29,004 Depreciation and amortization 10,274 8,234 28,687 22,871 ------ ------ ------ ------- EBITDA $14,688 $50,066 $47,615 $144,009 Adjustments Impact of sale-leaseback financing expense (1) -- -- 11,159 -- ------ ------ ------ ------- Total Adjustments -- -- 11,159 -- ------ ------ ------ ------- Adjusted EBITDA $14,688 $50,066 $58,774 $144,009 ====== ====== ====== ======= (1) Accounting impact of a one-time, non-cash, sale-leaseback financing expense related to the Company's umbrella purchase for 13 of its leased facilities in the second quarter of fiscal 2025. (2) The tax effect of U.S. related adjustments was calculated using a 25.5% tax rate, determined based on a 21% federal statutory rate and a 4.5% blended state income tax rate. (3) The interest expense add back excludes floorplan interest expense, which was $10.0M and $4.0M for the three months ended October 31, 2024 and 2023, respectively, and $26.3M and $7.8M for the nine months ended October 31, 2024 and 2023, respectively.

Titan Machinery Inc. to Report Fiscal Third Quarter Ended October 31, 2024 Results on Tuesday, November 26, 2024

WEST FARGO, N.D., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN), a leading network of full-service agricultural and construction equipment stores, announced today it will release financial results for the third quarter ended October 31, 2024, on Tuesday, November 26, 2024, followed by an investor conference call at 7:30 a.m. Central time (8:30 a.m. Eastern time).