Titan Machinery Inc. · NASDAQ:TITN
Titan Machinery — Q1 2027 Earnings Presentation
24 slides from Titan Machinery's earnings presentation, Jun 9, 2026
Slide 1: First Quarter FY2027 Investor Deck
First Quarter FY2027 Investor Deck
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: Executive Management
Executive Management • BRYAN KNUTSON – PRESIDENT/ CHIEF EXECUTIVE OFFICER ◦ Transitioned to CEO February 2024 ◦ Joined Titan Machinery in 2002 ◦ Executive Leadership Team since 2016 ◦ Titan Machinery COO since 2017, Promoted to President/COO 2022 ◦ Vice Chairman of the Pioneer Equipment Dealers Asso
Slide 4: Company Overview
COMPANY OVERVIEW TITAN MACHINERY Power & Precision to Grow Po
Slide 5: Financial Snapshot
Financial Snapshot COMPANY SUMMARY: NASDAQ: TITN Stock Price (as of 4/30/2026) $20.91 Book Value per share (1) $24.30 Cash (1) $29.6M Debt (1)(2) $176.6M Market Cap (as of 4/30/2026) $487.4M (1) Balance sheet data as of most recently filed quarterly report, for the period ended April 30, 2026 (2) Lo
Slide 6: About Our Business
About Our Business YTD FY27 Revenue Mix by Segment 12% 10% 13% 65% Europe Australia Construction Agriculture by Source 2% 8% 20% 70% Rental Service Parts Equipment 6
Slide 7: Our Company
Our Company Global Distribution Footprint Snapshot • Contiguous network of 90 North America stores: ◦ Highly productive farming region ◦ Vast construction footprint • International footprint of 32 stores in Eastern Europe and 15 stores in Australia • Management depth, expertise & systems to support
Slide 8: Financial Overview
Financial Overview Recent Fiscal 2027 Financial Results: First Quarter & LTM (1) Revenue Adjusted Pre-Tax Loss Adjusted Diluted Loss per Share ($ in millions) ($ in millions) (12)% $2,668 $2,355 $(12) $(0.58) $(0.55) $(17) 5% (12)% 28% $(35) $594 $522 $(2.33) $(2.19) 6% $(70) 51% 1Q26 1Q27 LTM26 LTM
Slide 9: Agriculture Segment Overview
Agriculture Segment Overview Q1 FY27 Recap • Same-store sales decline of 8.2% (versus decline of 14.1% in prior year period) ◦ Farmer profitability remains under pressure given the combination of a low commodity environment and high input prices, which is driving weaker equipment demand • Stronger-t
Slide 10: Construction Segment Overview
Construction Segment Overview Q1 FY27 Recap • Same-store sales decline of 6.5% (versus increase of 0.9% in prior year period) ◦ Equipment delivery timing created temporary year-over-year headwind that is expected to reverse for balance of FY27 ◦ Heightened activity in infrastructure and data center
Slide 11: Europe Segment Overview
Europe Segment Overview Q1 FY27 Recap • Same-store sales decrease of 37.0% (versus increase of 44.0% in prior year period) • Reflecting the normalization of demand in Romania following the prior year period, which had benefited from European Union stimulus funds • Majority of Germany wind-down compl
Slide 12: Australia Segment Overview
Australia Segment Overview Q1 FY27 Recap • Same-store sales increase of 14.3% (versus decline of 1.0% in prior year period) ◦ On a constant currency basis, revenue increased 2.8% ◦ Contribution benefit from the Bellevue Machinery acquisition in fall 2025 • Pre-tax loss of $1.8 million compared to $0
Slide 13: First Quarter Revenue Analysis
First Quarter Revenue Analysis (in millions of dollars) Q1 FY2027 Q1 FY2026 Change Total Revenue $522.4 $594.3 -12.1% Equipment $364.7 $436.8 -16.5% Parts $103.8 $105.6 -1.8% Service $43.8 $44.0 -0.6% Rental & Other $10.2 $7.9 +30.0% 13
Slide 14: First Quarter Financials
First Quarter Financials (in millions of dollars, except per share data) Q1 FY2027 Q1 FY2026 Change Total Revenue $522.4 $594.3 -12.1% Gross Profit $89.3 $90.9 -1.8% Gross Profit Margin 17.1% 15.3% +180 bps Operating Expenses $94.4 $96.4 -2.1% Operating Expense as a % of Revenue 18.1% 16.2% +190 bps
Slide 15: First Quarter Segment Overview
First Quarter Segment Overview % of % of Change (in millions of dollars) Q1 FY2027 Q1 FY2026 Revenue Revenue ($) Revenue $522.4 $594.3 -12.1% Agriculture $344.2 $384.4 -10.4% Construction $67.5 $72.1 -6.5% Europe $60.4 $93.9 -35.6% Australia $50.3 $44.0 +14.3% Pre-Tax (Loss) Income (1) $(12.5) (2.4)
Slide 16: Same Store Results
Same Store Results (1) Three Months Ended April 30, Percent (in thousands of dollars) 2026 2025 Change Same Store Sales Agriculture $ 343,160 $ 373,684 (8.2)% Construction 67,463 72,129 (6.5)% Europe 52,859 83,853 (37.0)% Australia 50,265 43,963 14.3 % Total $ 513,747 $ 573,629 (10.4)% Same Store Gr
Slide 17: Balance Sheet Highlights
Balance Sheet Highlights ▪ $30 Million of Cash ▪ Equipment Inventory Increased $10 Million as of April 30, 2026 vs. January 31, 2026 • $41 Million increase in new equipment and a $31 Million decrease in used equipment ▪ Rental Fleet Assets Increased to $75 Million as of April 30, 2026 from $71 Milli
Slide 18: FY2027 Modeling Assumptions
FY2027 Modeling Assumptions: Current Expectations Fiscal 2027 Segment Revenue (in millions, except per share data and percentages) Agriculture Down 15% - Down 20% Construction Flat - Up 5% Europe (1) (2) Down 20% - Down 25% Australia Up 10% - Up 15% Adjusted EBITDA $17.0 - $29.0 Adjusted Consolidate
Slide 19: Appendix
Appendix TITAN MACHINERY Power & Precision to Grow Po
Slide 20: 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 21: Equipment Turns
Equipment Inventory Lookback New Inventory Used Inventory Inventory Turns (1) 1.75 5.0 4.5 1.50 4.0 1.25 3.4 3.3 3.5 Equipment Turns 3.0 Billions $ 1.00 2.2 2.5 2.0 0.75 1.8 1.8 2.0 1.6 1.6 1.5 1.9 1.4 1.4 1.8 0.50 1.2 1.5 1.0 0.25 0.5 0.00 0.0 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24
Slide 22: Operating Expenses & Absorption
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% 74.7% 74.2% Rate 74.1% 74.0% $250 72.3% 75% 72.0% $200 70% $150 65% $100 60% $50 $— 55% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26
Slide 23: 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 Q1 FY27 (1) Under
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (in thousands) Three Months Ended April 30, 2026 2025 EBITDA Net Loss $ (12,616) $ (13,204) Adjustments Interest expense, net of interest income 4,406 10,918 Floorplan interest expense 3,553 6,526 Provision (Benefit) for Income Taxes 141 (4,078) Depreciation and amorti