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UPDATE: Titan Machinery Reports Surge In Q2 Earnings, Lifts Forecast

Courtesy of Benzinga.

Titan Machinery Inc (NASDAQ: TITN) reported a strong rise in its fiscal second-quarter earnings and raised its full-year earnings forecast.

Titan Machinery reported its quarterly profit at $6.29 million, or $0.30 per share, up from $2.71 million, or $0.15 per share, in the year-ago period. Its revenue surged 48% to $310.8 million. However, analysts were expecting earnings of $0.26 per share on revenue of $293 million. Titan Machinery lifted its full-year earnings outlook by $0.03 per share to a range of $1.56 to $1.66 per share. It also raised its revenue forecast by $20 million to a range of $1.33 billion to $1.405 billion.

Titan Machinery shares gained 0.73% to $27.56 in after-hours trading.


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