Toromont Industries
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Toromont Industries (TIH) investor relations material

Toromont Industries Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary11 Feb, 2026

Executive summary

  • Q4 revenue grew 9%, driven by strong equipment deliveries, robust backlog, and the positive impact of the AVL acquisition, despite macroeconomic and trade uncertainty.

  • Full-year earnings declined modestly due to growth investments, lower net interest income, and non-cash AVL acquisition costs.

  • Equipment Group and CIMCO both contributed to growth, with CIMCO posting higher revenue and earnings from strong demand and disciplined execution in Canada and the U.S.

  • The Board increased the quarterly dividend by 7.7% to $0.56 per share, marking the 37th consecutive annual increase.

  • Strong order intake and closing backlogs in both business segments support a positive outlook.

Financial highlights

  • Q4 consolidated revenue increased 9% year-over-year to $1,421.9M; full-year revenue rose 4% to $5,202.8M.

  • Operating income increased 3% in Q4 and 2% for the year to $681.3M; net earnings up 1% in Q4 to $157.2M, down 2% for the year to $496.6M.

  • Basic EPS was $1.93 in Q4 and $6.11 for the year.

  • Gross profit margin increased 10 bps in Q4 to 27.3% and 30 bps for the year to 25.4%.

  • $1.3 billion cash on hand, $453 million in additional liquidity; $150 million debentures redeemed, $300 million new debentures issued.

Outlook and guidance

  • Focus remains on executing strategic priorities, maintaining operational discipline, and supporting long-term growth.

  • Strong backlog of $1.5 billion, with 90% expected to be delivered in the next 12 months, positions the company well for 2026.

  • Monitoring trade negotiations, FX volatility, inflation, interest rates, and geopolitical trends; proactive mitigation plans in place.

  • Technician hiring and investment in people and capabilities remain key priorities.

Explain AVL's impact on full-year EPS/ROE
CIMCO US bookings decline: What's the plan?
Mining segment outlook given Q4 bookings strength?
AVL non-cash costs impact on 2026 earnings?
Construction demand outlook for 2026-2027?
Capital allocation priorities for 2026?
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Frequently asked questions

Toromont Industries Ltd. provides specialized capital equipment for the infrastructure, energy, and resources sectors in Canada, the United States, Chile, Colombia and Mexico. The company offers concrete manufacturing equipment; asphalt paving machines; Roadtec modular road-building system; a range of paving and asphalt maintenance machines; bridge construction equipment; aggregate handling equipment; forestry products manufacturing systems and materials processing equipment. The company is based in Canada with additional locations across North America and in South America.

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