Canada · Delayed Price · Currency is CAD Toromont Industries Earnings Call Transcripts
Fiscal Year 2026
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Revenue and earnings grew strongly in Q2 and the first half, led by the Equipment Group and AVL expansion, while CIMCO faced project timing headwinds. Backlog remains robust at CAD 2.9 billion, supporting a positive outlook despite ongoing supply chain and macroeconomic uncertainties.
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Revenue and earnings grew strongly in Q1 2026, with significant gains in equipment sales, rentals, and AVL's data center enclosure business. Backlog and bookings surged, margins improved, and liquidity remains robust, supporting ongoing strategic investments and expansion.
Fiscal Year 2025
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Q4 and full-year results showed revenue growth and strong bookings, with Equipment Group and Cimco both posting gains. AVL acquisition boosted backlog and revenue but brought significant non-cash expenses. Dividend was raised 7.7%, and liquidity remains strong.
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Q3 saw net income growth aided by a property sale, while revenue declined 2% due to lower new equipment sales, especially in mining. Backlog remains strong at $1.3B, and CIMCO delivered double-digit growth. AVL integration and facility ramp-ups are progressing as planned.
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Q2 2025 saw modest revenue growth and resilient performance despite macroeconomic and trade headwinds. AVL and CIMCO contributed to top-line gains, but higher expenses and non-cash acquisition costs reduced net income and EPS. Backlog remains strong, supporting a positive outlook.
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Revenue grew 7% year-over-year, but net earnings and margins declined due to sales mix and higher costs. The GAL acquisition and disciplined capital management support long-term growth, while backlog remains healthy despite economic uncertainty and competitive pressures.
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The acquisition secures a key supplier in the data center market, strengthening supply chain control and expanding growth opportunities. AVL will operate independently, with its leadership retained, and the deal is expected to be accretive and strategically valuable.
Fiscal Year 2024
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Q4 and full-year 2024 saw strong execution, with revenue and backlog growth in both Equipment Group and CIMCO. Despite lower annual earnings, the company maintained a robust financial position, increased its dividend, and made strategic acquisitions, positioning well for 2025.
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Revenue grew 14% in Q3, but net income fell 10% due to margin pressure and higher expenses. Equipment sales, especially in mining, were strong, while product support and rental markets faced headwinds. Backlog and liquidity remain solid, supporting future growth.
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Q2 2024 saw 16% revenue growth and 2% higher net income year-over-year, with strong Equipment Group and CIMCO performance. Margins declined due to sales mix, but a healthy backlog and robust liquidity support a positive outlook.