David Meyer, Titan Machinery's chairman and chief executive officer, stated, "The fiscal first quarter exceeded our expectations on all fronts with impressive operating leverage that showcases the earnings power of our efficient dealership network."
Titan Machinery, Case IH’s largest dealer of farm equipment, reported consolidated revenues slipped 3.7% for the period ended July 31, 2020, but year-over-year sales from its agriculture segment increased by 2% for the quarter.
RDO Equipment Co.’s new, full-service store in Dayton is now open. The Dayton store is the result of an integration between two previously separate stores in the area and is designed to better meet the equipment and technology needs of customers in the north metro area.
Titan Machinery Inc. (Nasdaq: TITN) reported financial results for the fiscal first quarter ended April 30, 2020, which included first quarter revenues of $310.2 million compared to $278.3 million in the same period a year earlier.
According to a report from Branson Tri Lakes News, S&H Farm Supply has announced the opening of their 5th location in Branson, Mo. The location's general manager, Scott Crowder, says the location will specialize in small tractors and implements and won't carry larger equipment, such as hay rakes.
Greenway Equipment has acquired three dealership locations in Arkansas from Maus Implement. This brings Greenway’s store count to 31. The John Deere dealership group added locations in Morrilton, Russellville and Damascus, according to a published report in Arkansas Business.
Titan Machinery turned in a strong performance during the first quarter of its fiscal year 2020 ended April 30, 2019. In addition to higher top and bottom line results, Titan Machinery managers also highlighted the retirement of remaining senior convertible note principal balance on May 1, 2019, along with lower floorplan and other interest expense as reasons for the upbeat quarterly report.
On May 15, Angela Lekatsas will assume her new role as president and CEO of Cervus Equipment. She is replacing Graham Drake, who is a co-founder of Cervus, which is one of only three farm equipment dealership groups in the U.S. and Canada that is publicly held.
MirTech Harvest Center, the dealership group representing Claas in the Western Delta region of the U.S., has opened a new store in Boyle, Miss., its fourth location since signing on to represent Claas in the region in 2016.
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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.