Titan Machinery Inc. (TITN) [Rocket]

In millions, except per share items	Jan-31-23	Jan-31-22	Jan-31-21	Jan-31-20	Jan-31-19	Jan-31-18	Jan-31-17	Jan-31-16
	8-K	8-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Agriculture						689.9	734.3	864.9
Construction						293.9	317.1	340.9
International						208.9	150.3	162.1
Total revenues [+]	2,209.3	1,711.9	1,411.2	1,305.2	1,261.5	1,192.6	1,201.7	1,367.8
Services	129.8	115.6						127.5
Net interest income	-5.1	-4.5	3.8	4.5	7.8
Other								69.5
Revenue growth [+]	29.1%	21.3%	8.1%	3.5%	5.8%	-0.8%	-12.1%	-28.0%
Agriculture						-6.1%	-15.1%	-35.8%
Construction						-7.3%	-7.0%	-12.5%
International						39.0%	-7.3%	-1.4%
Cost of goods sold [+]	1,769.5	1,379.2	1,149.9	1,054.4	1,029.9	977.3	988.0	1,161.9
Cost of services	46.2	38.8	36.7	33.4	29.0	30.7	31.5	46.8
Other cost of sales			30.1	37.0	38.8	38.2	37.3	52.5
Gross profit	439.8	332.7	261.4	250.8	231.6	215.3	213.7	205.9
Gross margin	19.9%	19.4%	18.5%	19.2%	18.4%	18.1%	17.8%	15.1%
Selling, general and administrative	3,490.6	2,662.9	2,148.0	1,961.6	1,923.2	1,812.6	1,819.3	2,035.6
Other operating expenses	-3,189.1	-2,421.9	-1,925.5	-1,732.1	-1,719.5	-1,608.7	-1,604.3	-1,808.1
EBITDA [+]	163.5	113.8	62.6	49.4	51.5	36.5	25.5	7.0
EBITDA growth	43.7%	81.9%	26.6%	-4.1%	41.0%	43.2%	263.2%	-88.4%
EBITDA margin	7.4%	6.6%	4.4%	3.8%	4.1%	3.1%	2.1%	0.5%
Depreciation	25.2	22.1	23.6	28.0	23.5	25.1	26.9	28.2
EBITA	138.3	91.7	39.0	21.4	28.0	11.4	-1.4	-21.2
EBITA margin	6.3%	5.4%	2.8%	1.6%	2.2%	1.0%	-0.1%	-1.6%
Amortization of intangibles			0.1	0.1	0.1			0.3
EBIT [+]	138.3	91.7	38.9	21.3	27.9	11.4	-1.4	-21.5
EBIT growth	50.9%	135.9%	82.2%	-23.5%	144.2%	-944.3%	-93.7%	-175.1%
EBIT margin	6.3%	5.4%	2.8%	1.6%	2.2%	1.0%	-0.1%	-1.6%
Non-recurring items [+]		1.5	1.5		0.4	10.5	1.0	1.6
Asset impairment		1.5	1.5
Interest expense, net [+]			-0.3	-0.3	-0.3	8.4	7.7	13.6
Interest expense			7.2	9.8	13.9	8.8	8.3	14.3
Interest income			0.3	0.3	0.3	0.5	0.6	0.6
Other income (expense), net [+]	-3.1	-3.3	0.3	2.8	2.2	-7.0	-12.6	-19.5
Asset impairment charges			1.7	3.8	2.2	0.7	4.4	6.9
Other			0.5	3.1	2.5	1.6	1.5	-0.5
Pre-tax income	135.2	86.9	30.8	14.7	16.2	-14.4	-22.7	-56.2
Income taxes	33.4	20.9	11.4	0.7	4.0	-7.4	-8.2	-18.0
Tax rate	24.7%	24.0%	37.1%	4.8%	24.6%	51.2%	36.0%	32.0%
Minority interest							-0.4	-0.3
Net income	101.9	66.0	19.0	13.7	12.0	-6.9	-13.9	-37.2
Net margin	4.6%	3.9%	1.3%	1.1%	0.9%	-0.6%	-1.2%	-2.7%

Basic EPS [+]	$4.55	$2.97	$0.86	$0.63	$0.55	($0.32)	($0.65)	($1.76)
Growth	53.3%	244.7%	37.6%	13.9%	-271.3%	-51.0%	-62.8%	17.0%
Diluted EPS [+]	$4.55	$2.97	$0.86	$0.63	$0.55	($0.32)	($0.65)	($1.76)
Growth	53.3%	244.8%	37.6%	13.9%	-271.3%	-51.0%	-62.8%	17.0%

Shares outstanding (basic) [+]	22.4	22.2	22.1	21.9	21.8	21.5	21.3	21.1
Growth	0.6%	0.7%	0.7%	0.6%	1.2%	1.2%	0.9%	0.6%
Shares outstanding (diluted) [+]	22.4	22.2	22.1	22.0	21.8	21.5	21.3	21.1
Growth	0.6%	0.7%	0.7%	0.6%	1.3%	1.2%	0.9%	0.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.