Titan Machinery Inc. · NASDAQ:TITN
Titan Machinery — Q2 2027 Earnings Presentation
21 slides from Titan Machinery's earnings presentation, Aug 27, 2026
Slide 1: Second Quarter FY2027 Earnings Conference Call
Second Quarter FY2027 Earnings Conference Call August 27, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing the words “may,” “could,” “would,” “should,” “believe,” “expect,” “antic
Slide 3: Financial Overview
Financial Overview ▪ Second Quarter FY2027 Results • Revenue $496.4 Million • Pre-Tax Loss $9.2 Million • Diluted Loss Per Share $0.40 ▪ Conference Call Discussion Points • Industry Overviews • Financial Results • Modeling Assumptions 3
Slide 4: Agriculture Segment Overview
Agriculture Segment Overview Q2 FY27 Recap • Same-store sales down 8.4% (versus -18.7% in prior year period) ◦ Farmer profitability remains under pressure ◦ Low commodity prices and high input costs leading to softer equipment demand • Equipment revenue came in modestly ahead of expectations for the
Slide 5: Construction Segment Overview
Construction Segment Overview Q2 FY27 Recap • Same-store sales increase of 9.2% (versus -10.2% in prior year period) ◦ Equipment revenue strength driven by new equipment sales • Rental fleet dollar utilization of 25.6%, up 320 bps year-over-year which is benefiting from rental demand for data center
Slide 6: Europe Segment Overview
Europe Segment Overview Q2 FY27 Recap • Same-store sales down 25.4% (versus +44.0% in prior year period); on a constant currency basis, revenue decreased approximately 33.7% y/y • Wind-down of German operations contributed approximately $11 million, or about one-third of the y/y revenue decline in Q
Slide 7: Australia Segment Overview
Australia Segment Overview Q2 FY27 Recap • Same-store sales increased 35.5% (versus -50.1% in prior year period) ◦ On a constant currency basis, revenue increased approximately 23% ◦ Current period benefited from adding the New Holland brand to six dealerships in fall of 2025 • Market share gains ar
Slide 8: Second Quarter Revenue Analysis
Second Quarter Revenue Analysis Favorable / (in millions of dollars) Q2 FY2027 Q2 FY2026 (Unfavorable) Total Revenue $496.4 $546.4 (9.2)% Equipment $328.5 $376.3 (12.7)% Parts $106.6 $109.2 (2.4)% Service $46.4 $48.8 (4.8)% Rental & Other $14.8 $12.1 +22.1% 8
Slide 9: Second Quarter Financials
Second Quarter Financials Favorable / (in millions of dollars, except per share data) Q2 FY2027 Q2 FY2026 (Unfavorable) Total Revenue $496.4 $546.4 (9.2)% Gross Profit $92.4 $93.6 (1.3)% Gross Profit Margin 18.6% 17.1% +150 bps Operating Expenses $94.1 $92.7 (1.5)% Operating Expense as a % of Revenu
Slide 10: Second Quarter Segment Overview
Second Quarter Segment Overview % of % of Favorable / (in millions of dollars) Q2 FY2027 Q2 FY2026 Revenue Revenue (Unfavorable) Revenue $496.4 $546.4 (9.2)% Agriculture $310.2 $345.8 (10.3)% Construction $78.6 $72.0 +9.2% Europe $66.1 $98.1 (32.6)% Australia $41.4 $30.6 +35.5% Pre-Tax (Loss) Income
Slide 11: Six Months Revenue Analysis
Six Months Revenue Analysis (in millions of dollars) First 6 Months First 6 Months Favorable / FY2027 FY2026 (Unfavorable) Total Revenue $1,018.8 $1,140.8 (10.7)% Equipment $693.2 $813.1 (14.7)% Parts $210.4 $214.9 (2.1)% Service $90.2 $92.8 (2.8)% Rental & Other $25.0 $20.0 +24.8% 11
Slide 12: Six Months Financials
Six Months Financials (in millions of dollars, except per share) First 6 Months First 6 Months Favorable / FY2027 FY2026 (Unfavorable) Total Revenue $1,018.8 $1,140.8 (10.7)% Gross Profit $181.7 $184.6 (1.6)% Gross Profit Margin 17.8% 16.2% +160 bps Operating Expenses $188.5 $189.1 +0.3% Operating E
Slide 13: Six Months Segment Overview
Six Months Segment Overview (in millions of dollars) First 6 Months % of First 6 Months % of Favorable / FY2027 Revenue FY2026 Revenue (Unfavorable) Revenue $1,018.8 $1,140.8 (10.7)% Agriculture $654.5 $730.1 (10.4)% Construction $146.1 $144.1 +1.4% Europe $126.5 $192.0 (34.1)% Australia $91.7 $74.5
Slide 14: Balance Sheet Highlights
Balance Sheet Highlights ▪ $30 Million of Cash ▪ Equipment Inventory Increased $22 Million as of July 31, 2026 vs. January 31, 2026 • $62 Million increase in new equipment and a $40 Million decrease in used equipment ▪ Rental Fleet Assets Increased to $78 Million as of July 31, 2026 from $71 Million
Slide 15: Equipment Inventory Financing
Equipment Inventory Financing (1) Non-Interest Bearing floorplan is equipment that is in its initial interest free financing period from the OEM (2) Excludes CNH Parts Note (3) Equity is equipment inventory not financed with floorplan (4) Inventory turns are calculated by dividing cost of sales on e
Slide 16: FY2027 Modeling Assumptions
FY2027 Modeling Assumptions: (in millions, except per share data and percentages) Previous Assumptions Current Assumptions Segment Revenue Agriculture Down 15% - Down 20% Down 15% - Down 20% Construction Flat - Up 5% Up 5% - Up 10% Europe (1) (2) Down 20% - Down 25% Down 30% - Down 40% Australia Up
Slide 17: Appendix
Appendix TITAN MACHINERY Power & Precision to Grow Po
Slide 18: Operating Expenses & Absorption
Operating Expenses & Absorption(1) Operating Expenses & Absorption (1) Operating Expenses Absorption Rate $500 95% $450 90% $400 82.7% 82.9% 82.9% 85% $350 79.0% 80% $300 Millions 75.0% 75.1% Rate 74.2% 74.1% 74.0% $250 72.3% 73.1% 75% 72.0% $200 70% $150 65% $100 60% $50 $— 55% FY16 FY17 FY18 FY19
Slide 19: Same Store Results
Same Store Results (1) Three Months Ended July 31, Percent Six Months Ended July 31, Percent (in thousands of dollars) 2026 2025 Change 2026 2025 Change Same Store Sales Agriculture $ 307,298 $ 335,352 (8.4)% $ 649,360 $ 708,092 (8.3)% Construction 78,639 71,987 9.2 % 146,102 144,116 1.4 % Europe 63
Slide 20: Adjusted Debt to Tangible Net Worth
Adjusted Debt to Tangible Net Worth (1) Adjusted Debt Tangible Net Worth Adjusted Debt to Tangible Net Worth 4.5 $1,200 $1,100 4.0 $1,000 3.5 $900 3.0 $800 $700 Millions 2.5 Ratio $600 1.8 2.0 1.7 $500 1.5 1.6 $400 1.5 0.9 $300 1.0 $200 0.5 $100 $— — Q4 FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q2 FY27 (1) Under
Slide 21: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (in thousands) Three Months Ended July 31, Six Months Ended July 31, 2026 2025 2026 2025 EBITDA Net Loss $ (9,150) $ (6,000) $ (21,766) $ (19,204) Adjustments Interest expense, net of interest income 4,255 4,442 8,662 8,834 Floorplan interest expense 3,664 6,812 7,216