Titan Machinery slumps as rev misses estimates
24/03/2022 17:14
** Shares of Titan Machinery TITN.O down 6.4% to $31.28 in
Thurs trade after Q4 results
** Q4 adj EPS of 99 cents beats 54-cent estimate, but rev of
$507.6 mln missed estimate of $524.6 mln, per Refinitiv
** Co, which operates a network of agricultural and
construction equipment dealer locations, says Ukraine subsidiary
accounted for less than 5% of its total revenue and assets for
FY ended Jan 31 urn:newsml:reuters.com:*:nGNXB7mtB
** "Given the unknown duration of the conflict, the Company
currently assumes very little revenue contribution from its
Ukraine operation and as a result is estimating approximately
$0.25 per share of losses due to unabsorbed expenses in fiscal
2023," co says in release
** Of 4 analysts covering TITN, 3 rate "strong buy" or
"buy", 1 "hold", per Refinitiv; median PT of $41
** YTD, TITN shares now down ~7% vs 10% decline for Nasdaq
Composite
(Reporting by Lewis Krauskopf)
((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters
Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net,
Twitter: @LKrauskopf))