Canada · Delayed Price · Currency is CAD Finning International Earnings Call Transcripts
Fiscal Year 2026
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Record Q2 results with EPS up 21% and revenue surpassing CAD 3 billion, driven by strong equipment sales and product support growth. Backlog remains robust at CAD 3.8 billion, with positive outlooks in mining, oil and gas, and data center power opportunities.
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Record Q1 adjusted EPS and revenue growth were driven by strong product support, especially in Canada, and a record backlog, with positive outlooks in mining, power, and energy. Capital allocation remains disciplined, and long-term opportunities are supported by robust market conditions and strategic investments.
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The meeting featured strong financial results, a 7.4% dividend increase, and unanimous approval of all board and governance resolutions. Strategic focus remains on product support, sustainability, and growth in mining and power sectors.
Fiscal Year 2025
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Revenue grew 7% to CAD 10.6B in 2025, with record backlog and strong product support growth. Adjusted EPS rose 14%, free cash flow was robust, and all regions contributed to improved returns. Backlog and order intake signal continued momentum, especially in mining and power.
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Q3 2025 saw 14% revenue growth and 25% higher EBIT, driven by strong mining and power systems demand, with robust backlogs and improved cost efficiency. Product support and used equipment sales surged, and the outlook remains positive across all regions.
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Revenue reached $2.6B with record $3B backlog and strong product support growth, especially in mining and power systems. Adjusted EPS rose 5% year-over-year, while cost discipline and restructuring actions are expected to yield over $20M in annual savings.
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The meeting confirmed strong shareholder support for all resolutions, including director elections and executive compensation. Financial results showed record revenue and cash flow, with a 10% dividend increase and strategic divestitures to focus on core operations. Sustainability and human rights alignment were highlighted.
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Q1 2025 saw 7% net revenue growth, record backlog, and strong product support performance, with robust free cash flow and a 10% dividend increase. The sale of 4Refuel will simplify operations and is expected to be accretive to EPS.
Fiscal Year 2024
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Net revenue grew 6% to CAD 10.1B, with record product support and strong free cash flow. Backlog reached CAD 2.6B, and all regions showed resilience, though construction remains soft in Canada. Focus remains on product support, cost efficiency, and capital allocation.
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Q3 2024 saw 4% revenue growth and strong free cash flow, but adjusted EBIT and EPS declined due to margin pressure in Canada and one-time charges. South America delivered robust growth, while Canada and the U.K. faced headwinds, prompting a withdrawal of product support growth targets.
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Record Q2 EPS and free cash flow were achieved on 3% revenue growth, driven by strong used and new equipment sales, while product support and power systems showed resilience. Cost control and working capital improvements support a positive outlook for H2 2024.