Titan Machinery equipment revenue falls 12.7%

Equipment dealer Titan Machinery saw revenue slide in the second quarter as agriculture industry woes offset construction segment growth.

While agriculture equipment demand remains soft, margins continued to improve in Q2, reflecting “the work our team has done over the last two years to reduce aged inventory, improve inventory mix and strengthen inventory management processes across our organization,”  President and Chief Executive Bryan Knutson said during today’s earnings call.

“Despite recent trends upward, commodity prices for key crops such as corn and soybeans continue to sit below levels that would support a meaningful rebound in equipment demand, while elevated input costs remain a headwind for many producers,” he said. “While this environment remains difficult, we continue to believe the industry is working through the trough of this cycle in 2026.”

West Fargo, N.D.-based Titan Machinery reported in Q2:

• Total revenue fell 9.2% year over year to $496.4 million;
• Equipment revenue declined 12.7% YoY to $328.5 million;
• Construction revenue increased 9.2% YoY to $78.6 million;
• Agriculture revenue fell 10.3% YoY to $310.2 million; and
• Gross profit totaled $92.4 million, down 1.3% YoY.

Further reflecting inventory reduction efforts, Titan’s floorplan interest expense decreased 46.2% YoY to $3.7 million.

Shares of Titan Machinery [NASDAQ: TITN] fell 2.1% from market open to $18.42 as of market close today. It has a market capitalization of $429.2 million.

Check out our exclusive industry data here.