Canada's Toromont Q3 revenue beats on higher equipment sales, rentals

Toromont Industries

02/11/2026 22:33

Overview
Canada Caterpillar dealer's Q3 revenue rose 26% yr/yr, beating analyst expectations
Basic EPS for Q3 rose 36% yr/yr
Growth driven by higher equipment sales, rentals, and improved CIMCO performance

Outlook
Company backlog at C$2.9 bln as of Sept 30, 2026, reflects ongoing demand
Company says strong backlog and balance sheet position it for future activity

Result Drivers
EQUIPMENT SALES AND RENTALS - Co said higher new equipment sales, rentals and product support drove Q3 growth
CIMCO RECOVERY - Co said CIMCO segment improved after slow start, with higher package revenue and product support activity
HIGHER MARGINS - Co said improved gross profit margins in Equipment Group contributed to Q3 results

Company press release: ID:nCNWBMgDYa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
C$1.65 bln
C$1.52 bln (9 Analysts)
Q3 Net Income
 
C$192.1 mln
 
Q3 Operating Income
 
C$279.3 mln
 
Q3 Operating Margin
 
16.9%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"
Wall Street's median 12-month price target for Toromont Industries Ltd is C$253.00, about 30.7% above its October 30 closing price of C$193.50
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago

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Nov 2 - Canada's Ero Copper Q3 revenue slightly beats on higher metal prices

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)