$TIH.TO

Toromont Industries Upgraded to Outperform at Raymond James

Toromont Industries (TIH.TO) was upgraded to Outperform from Market Perform at Raymond James on Thursday.Analyst Steve Hansen raised his price target on shares of the Canadian heavy equipment dealer to $235 from $190 following its business update.Hansen said it "reinforced our conviction in the durability of the firm's Power Systems (including AVL) growth outlook.""Specifically, management announced that its Power Systems division has accumulated ~$1.0 billion in firm orders, with deliveries expected substantially throughout 2027," the analyst said in a note to clients.''We believe this update further validates the durability of AVL's data centre-driven growth opportunity and augments TIH's long-term earnings visibility," Hansen said.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

CIBC Confirms Neutral Rating and Raises Target to $215 on Toromont Industries Following Q1 Results

CIBC Capital Markets maintained its neutral rating on the shares of Toromont Industries (TIH.TO) while raising its its price target to C$215 from C$200 after the company reported its first quarter financial results on Tuesday.The company delivered a strong Q1, supported by growth at AVL as capacity continues to ramp, said CIBC. Construction activity also showed early signs of improvement, with momentum building toward quarter-end despite seasonal and macro headwinds, the bank noted."While we acknowledge the optimistic operating backdrop, we believe the valuation largely reflects these drivers and embedded growth assumptions, with the focus now shifting to long-term execution," said analyst Krista Friesen. "We have tweaked our estimates, having actualized Q1/26 earnings and to reflect management's commentary."CIBC now expects 2026 earnings per share to be $7.08 from an earlier expectation of $6.96 and its 2027 EPS to be $8.09 from $7.88, expected earlier.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $212.02, Change: $+1.13, Percent Change: +0.54%

Toromont Industries Posted Q1 Earnings and Revs Beat; Focus On Power and Energy Businesses

Toromont Industries (TIH.TO) overnight Tuesday reported better than expected earnings and revenues for the first quarter, while it "continues to consider opportunities to invest in the growth in its Power and Energy businesses".For the three months ended March 31, 2026, the company reported net earnings of $92.7 million or earnings per diluted share of $1.13 compared with $74.44 million or earnings per diluted share of $0.91, a year earlier. The result beat a consensus estimate compiled by FactSet of $1.07 per share.Revenue increased to near $1.23 billion in the quarter compared with $1.09 billion, a year-ago. It beat a consensus forecast of $1.172.5 billion."Our team performed well in the quarter despite ongoing uncertainty in global trade markets," stated Michael S. McMillan, President and Chief Executive Officer "Both revenue and earnings increased, reflecting good execution across most areas of the business. The Equipment Group had healthy increases in both new and used equipment sales along with solid activity in rentals and product support. Our AVL enclosure business continued to increase production, supporting data centre requirements primarily in the eastern US region. CIMCO posted higher package revenue however profitability was lower mainly due to timing of projects and deferred support activity. Bookings were strong and backlog is healthy. Our balance sheet and financial position remained strong, with good cash generation along with working capital management."Based upon operating performance and market demand, the company continues to consider opportunities to invest in the growth in its Power and Energy businesses, McMillan said.As such, effective today, the company increased its percentage ownership of AVL to 80% by advancing the purchase of half of the shares not currently owned. It noted the purchased shares were owned by a passive investor and do not impact the ownership or status of Vince DiCristofaro, President of AVL. The purchase price of the shares was $71.0 million, paid in cash, and will result in an expense of about $45.0 million to be recorded in Q2 of 2026.Its board also approved the regular quarterly dividend of $0.56 per share, payable on July 2, to shareholders of record at the close of business on June 5. The quarterly dividend was increased by 7.7% to $0.56 per share in the prior-month period.Shares of the company closed down 1% to $208.86 on Tuesday on the Toronto Stock Exchange.

Earnings Flash (TIH.TO) Toromont Reported Q1 Revs $1.23B, Up 13%; Basic EPS $1.14, Up 24%