Finning International (FTT) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 7% to $3.036B; EBIT increased 1% to $243M and EPS rose 3% to $1.20.

• Equipment backlog reached a record $4.1B, up 42% YoY; product support revenue grew 7% for a 10th consecutive quarter.

• Free cash flow was $70M versus a $56M use of cash a year earlier; net debt to Adjusted EBITDA was 1.6x.

• Strategy prioritizes product support, cost and capital efficiency, and disciplined growth in used equipment, rental, and power & energy.

Financial highlights

• Q3 gross profit rose 6% to $651M; gross margin was 21.5%, down 20 bps, while SG&A rose 8% to $411M and SG&A margin was 13.5%, up 10 bps.

• New equipment sales rose 11%, rental revenue rose 27%, and product support revenue rose 7%; used equipment sales fell 28%, partly reflecting a large Chile mining-truck fleet sale in Q3 2025.

• Net income from continuing operations was $155M versus $154M; EPS was $1.20 versus $1.17, partly reflecting share repurchases and higher earnings.

• LTIP expense was $14M, or $0.08 per share, versus $10M, or $0.06 per share, in Q3 2025, reflecting share-price appreciation.

• 9M revenue rose 10% to $8.667B, EBIT rose 5% to $680M, and Adjusted EBIT and Adjusted EPS were $696M and $3.44.

Outlook and guidance

• Backlog and order intake support future deliveries and product support; orders outpaced deliveries, with backlog up 42% YoY and 7% QoQ.

• Western Canada outlook is positive, supported by mining, oil and gas, and data-centre power demand; major project timing and approvals remain uncertain.

• Chile mining outlook is strong on copper demand, pricing, and planned expansions; South America product support may moderate near term as customers adjust mine plans and fleets.

• Argentina quoting activity is high and prospects are increasingly positive, contingent on a constructive investment environment and evolving government rules.

• UK & Ireland construction demand is expected to remain soft; power & energy quoting is strong and product support is expected to remain stable.