Why Are Titan Machinery Shares Plunging Today
Portfolio Pulse from Nabaparna Bhattacharya
Titan Machinery shares are plunging after reporting Q1 FY24 results, warning about fluctuations between quarters due to equipment shipment timeliness and supply chain constraints. The company beat EPS consensus but missed revenue consensus. Titan reiterated its FY24 outlook.
May 25, 2023 | 2:20 pm
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Titan Machinery shares plunge after Q1 FY24 results, warning about fluctuations between quarters due to equipment shipment timeliness and supply chain constraints. The company beat EPS consensus but missed revenue consensus.
Titan Machinery's stock price is likely to go down in the short term due to the warning about fluctuations between quarters and supply chain constraints. Additionally, the company missed the revenue consensus, which could negatively impact investor sentiment.
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