In their service revenue forecasts for 2023, half of dealers are forecasting growth of 2% or more, with 15.1% forecasting growth of 8% or more. Just 8.5% forecast a decline in service revenue over 2%.
Despite posting hefty revenue gains through the second quarter and first half of its 2014 fiscal year, Titan Machinery cut its full-year outlook to $2.25-$2.45 billion from its earlier forecast of $2.35-$2.55 billion. Titan, whose biggest brand of ag and construction equipment is Case IH, has 109 locations in the U.S. and Eastern Europe.
Fargo, N.D.-based Titan Machinery, one of the largest farm equipment dealer groups in North America, reported significant increases in revenues, net income and gross profit for fiscal 2009, and the company sees more of the same for the remainder of the calendar year.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.