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."

Revenue increased 8.1% to $1.4 billion for fiscal 2021. Net income for fiscal 2021 was $19.4 million compared to $14 million for the prior year.

David Meyer, Titan Machinery's Chairman and chief executive officer, stated, "We exceeded our third quarter top-line expectations due to strong parts and service performance in our Agriculture segment and better than anticipated equipment sales in our Construction and International segments."

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.

Titan Machinery announced the donation of $25,000 to the Equipment Dealers Assn. Foundation (EDF). Established in 1988, the Equipment Dealers Foundation provides ongoing funding for workforce development initiatives and temporary assistance for dealership employees affected by national disasters.

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.

This episode of the “Thought Leader Series” features Titan Machinery’s Jeff Bowman. Bowman maintains that dealers and farmers should not go back to all the same procedures and practices that pre-dated the pandemic, citing advances made in automated parts lockers, video support, staggered technician schedules and other areas. He covers his forward-looking observations on the customer experience (online and in-store), employees and permanent expense reductions.

A recent press release from the dealership group said the company had reopened some locations as of May 4 with more to follow.

Despite seeing a slowdown in the fourth quarter of its fiscal 2020 period, annual revenues were up 3.5% on strong aftermarket results, as parts sales rose 11.1% and service grew by 14.2%. Overall, equipment sales increased by about slightly under 1%.