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Toromont Industries (TIH) investor relations material
Toromont Industries Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net income rose 7% in Q3, driven by a $13.7M property sale and AVL acquisition, despite macroeconomic and trade challenges and lower net interest income.
Q3 revenue declined 2% year-over-year, with Equipment Group down 4% and CIMCO up 22%.
Bookings surged 47% year-over-year, and backlog reached $1.3B, up from $1.1B, supported by strong new order intake and AVL's contribution.
Financial position remains robust, with ample liquidity and continued focus on safe operations and long-term growth.
Market conditions remain uncertain, with mixed end market activity and customer purchasing decisions.
Financial highlights
Net income increased 7% ($140.6M) in Q3 year-over-year; basic EPS was $1.73 for the quarter and $4.18 year-to-date.
Consolidated revenue decreased 2% in Q3; Equipment Group revenue down 4%, CIMCO up 22%.
Operating income up 8% in Q3 to $189.5M; excluding property gain, up 1% year-over-year.
Gross profit margin for Q3 improved to 26.7%, up 250 bps year-over-year.
Free cash flow was strong at ~$250M in Q3, driven by inventory management.
Outlook and guidance
Focus remains on executing strategic priorities, maintaining operational discipline, and supporting long-term growth.
Backlog of $1.3B, up 17% year-over-year, with 80% expected to be delivered in the next 12 months, subject to timing.
AVL acquisition is tracking to plan, with modest near-term earnings due to non-cash adjustments; Charlotte facility ramping up through 2026.
No unusual seasonality expected for Q4; normalization anticipated.
Business environment expected to be influenced by trade negotiations, inflation, interest rates, FX, and geopolitical factors.
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Net income reached TRY 29.5 billion, with strong dividends and a robust net cash position.
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