Titan Machinery Inc.

Titan Machinery Inc. (NASDAQ: TITN) operates a network of full-service agricultural and construction equipment dealerships across the United States, Europe, and Australia. The company maintains its website at www.titanmachinery.com and has been an authorized dealer of CNH Industrial N.V. since its formation in 1980. Titan Machinery is the largest retail dealer of Case IH Agriculture equipment globally, one of the largest retailers of Case Construction equipment in North America, and among the largest retailers of New Holland Agriculture and Construction equipment in the United States.

The company operates through four reportable segments: Agriculture, Construction, Europe, and Australia. In fiscal 2026, equipment sales represented 73.1% of total revenue, parts sales accounted for 17.6%, service revenue comprised 7.3%, and rental and other business activities generated 2.0%. The Europe and Australia segments combined represented 23.0% of consolidated revenue.

Titan Machinery operates 90 full-service stores across nine U.S. states, 39 stores in four European countries, and 15 stores across three Australian states. The company's U.S. agricultural footprint spans highly productive farming regions including the Red River Valley, corn belt areas, and the Snake River Valley. Construction operations are concentrated in seven states, while international operations serve Bulgaria, Germany, Romania, Ukraine, and southeastern Australia.

The company's business model centers on four principal activities: new and used equipment sales, parts sales, equipment repair and maintenance services, and equipment rental. This integrated approach provides multiple customer touchpoints and cross-selling opportunities. CNH supplied approximately 74% of new equipment in the Agriculture segment, 75% in Construction, 57% in Europe, and 60% in Australia during fiscal 2026. Approximately 31% of total new equipment sales came from non-CNH manufacturers, with no single non-CNH supplier exceeding 3% of those sales.

Titan Machinery has completed over 60 acquisitions since 2003, establishing a significant presence across 15 U.S. states and multiple international markets. The company's competitive advantages include centralized inventory management, superior local customer service, experienced management, professional centralized marketing systems, and a diverse customer base with no single customer representing more than 1.0% of total revenue.