Strength in the agricultural industry is across all farm sectors according to Titan Machinery's earnings call this morning. Record farm income, strong grain prices, interest in new and replacement equipment is driving very impressive revenue and earnings gains.
Titan Machinery (TITN), an agriculture and construction equipment retailer, reported first quarter revenues increased a stunning 54.9% from year earlier levels. Same store sales increased 36.9%.
lsgifund.com 
And interest in their construction equipment is growing with orders related to tbe Bakken and Niobrara shale development, and recent flooding has also increased demand. These are very good financial results. We discuss the ag sector and TITN and have a few charts off of John Deere's site on trends in the sector.
We expect ARTW numbers, to be released in mid-July, to follow a similar projectory. Interesting how well some of these firms are doing, both energy and ag firms, and how the share prices is not responding. At some point that will change, small companies are in a very inefficient sector. |
