Titan Machinery Adds 6% As Profit And Revenue Climb In Q2

Shares of agricultural and construction equipment dealer Titan Machinery Inc. (TITN) are rising more than 6% Thursday morning after reporting improved second-quarter results.

In the second quarter, net income was $25.0 million, or $1.10 per share, higher than $11.2 million, or $0.50 per share a year ago.

Excluding one-time items, earnings were $25.0 million, or $1.10 per share.

Quarterly revenue increased 31.5% to $496.5 million, helped primarily by increase in equipment sales.

TITN is at $32.82 currently. It has traded in the range of $21.50-$38.58 in the last 1 year.

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