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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (73507)	8/29/2023 12:08:25 PM
From: E_K_S	Respond to of 78958

Re: TITN - looks like earnings Thursday 8/31 Earnings announcement* for TITN: Aug 31, 2023 Titan Machinery Inc. Common Stock is expected* to report earnings on 08/31/2023 before market open. The report will be for the fiscal Quarter ending Jul 2023. According to Zacks Investment Research, based on 3 analysts' forecasts, the consensus EPS forecast for the quarter is $1.15. The reported EPS for the same quarter last year was $1.1. ------------------------------ I have a GTC order in but at $24.17/share about 14% lower. I too discovered they re-sell machinery. My thinking if crops are good, farmers buy new machines and trade in the old ones. It's a big business especially in the mid-west small farming towns. I will look at a small starter position too and buy another chink if earnings s/d miss. 5.4x PE is good especially if they beat on earnings. Not much debt w/ Debt/equity at 0.17 and selling close to BV. ------------------------------- I have little exposure to Ag equipment as I sold all my DE & AGCO last year. I do own MTW but it is a specialty niche supplier of lifts.

To: Paul Senior who wrote (73507)	8/30/2023 8:01:39 PM
From: E_K_S	Read Replies (1) \| Respond to of 78958

Re: TITN look what is released BEFORE earnings tomorrow Titan Machinery Inc. Announces Strategic Acquisition of O’Connors - Australia’s leading Case IH dealership group with strong presence in high horsepower equipment - - Accretive acquisition generated approximately $0.40 in annual proforma earnings per share - - Acquisition includes strong management team with track record of solid financial performance through a combination of organic and acquisitive growth - - Updates fiscal 2024 modeling assumptions for Transaction - WEST FARGO, N.D., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN) (“Titan” or the “Company”), a leading network of full-service agricultural and construction equipment stores, announced today that it has entered into a definitive purchase agreement to acquire J.J. O’Connor & Sons Pty. Ltd. (“O’Connors”), the largest Case IH dealership group in Australia, for $63 million in cash, subject to final working capital and other closing adjustments (the “Transaction”). In the unaudited full fiscal year period ended June 30, 2023, O’Connors generated revenue of $258 million and EBITDA of $21.4 million, as translated to USD. O’Connors, founded in 1964, is the largest Case IH dealership group in Australia, and a market leader in high horsepower equipment. O’Connors delivers a wide range of new and used equipment, parts, and services through its 15 dealerships and 1 parts location located in the Australian southeastern grain belt, which includes the regions of Victoria, New South Wales, and South Australia. In addition, O’Connors is a distributor for more than 25 leading short-line equipment brands, providing an impressive range of complementary offerings to its core Case IH line of products, and has a strong parts and service business that provides a reliable recurring revenue stream. On a consolidated basis, O’Connors achieved a gross margin of approximately 18.7% in the full fiscal year 2023, and generated a total pre-tax margin of approximately 7.2%, representing a margin profile that is consistent with Titan’s. David Meyer, Titan Machinery’s Chairman and Chief Executive Officer, stated, "We are pleased to announce our definitive agreement to acquire O’Connors, Australia’s leading Case IH dealership group. This transaction marks our entry into the Australian agriculture market, as we continue to seek opportunities for Titan to expand its reach, both domestically and abroad. O’Connors’ operating metrics, core values, and customer-centric focus align with our own, making them a great partner for our entry into the Australian agriculture market, which is benefiting from strong fundamentals that are being driven by enhanced productivity, economies of scale, and farmer profitability.” ------------------------------------------------------------------------------- I suspect earnings will be good. Titan Machinery Inc (TITN) POST-MARKET 30.30 +1.22 (+4.20%) 19:25 ET missed adding more shares FWIW DE +2.27% today