Titan Machinery Inc. demonstrated strong operational execution in fiscal 2026, reducing total inventory by over $200 million while adapting to a challenging equipment demand environment.

• Achieved inventory reduction exceeding $200 million, surpassing initial and revised targets for the fiscal year.
• Parts and service segments now generate over 50% of gross profit, providing stability amid declining equipment demand.
• The company anticipates a continued decline in North American equipment industry volume into fiscal 2027, influenced by constraining factors such as low commodity prices and high input costs.
• Optimistic outlook for modest industry volume growth in Australia supported by a dual brand strategy and improving farmer sentiment.
• Focus will shift towards inventory mix optimization to enhance inventory turns and decrease interest expenses as the company moves into fiscal 2027.