Private investment firm Dimensional Fund Advisors LP currently holds the largest stake of publicly-traded Case IH dealership Titan Machinery at 7.51%. This amounts to almost 1.7 million shares valued at $58.3 million.
According to Titan Machinery’s Aug. 25 second quarter fiscal year 2023 earnings report, the company had $556.4 million in inventory as of July 31, its third quarter in a row of inventory increases.
In its latest earnings report, Titan Machinery forecast an 8-13% decline in international revenue for its fiscal year 2023, which "includes a reduction in revenue of approximately 75% from our Ukraine subsidiary compared to fiscal 2022."
Revenue for the fiscal year 2022 increased 21.3% to $1.7 billion for fiscal 2022. Net income for fiscal 2022 was $66 million, or $2.92 per diluted share, compared to $19.4 million, or $0.86 per diluted share, for the prior year.
Two-store AGCO and Claas dealer MM Weaver posted on its website that it is "engaged in discussions" with 5-store Case IH and AGCO dealer Binkley & Hurst about a merger between the two companies.
In its earnings report for the third quarter of its fiscal year 2021, Titan Machinery, Case IH’s largest North American dealer, reported ag revenue of $220.6 million, up 3.1% compared to $214.1 million in the same quarter last year.
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There was plenty of technology on display at the World Dairy Expo in Madison, Wis., a few weeks ago. Farm Equipment editor Mike Lessiter caught up with Monarch Tractor’s John Issacson and got his take on the top 5 applications in autonomy right now.