Home / Business and Economy / Toromont Revenue Surges 16% Amidst Equipment Group Boom
Toromont Revenue Surges 16% Amidst Equipment Group Boom
1 Aug
Summary
- Toromont's revenue increased by 16% in Q2 2026.
- Operating income saw a significant 41% rise for the quarter.
- Net earnings remained steady due to acquisition-related expenses.
Toromont Industries reported a significant increase in revenue and operating income for the second quarter of 2026. Consolidated revenue rose by 16% during the quarter and 15% in the first half of the year. The Equipment Group was a key driver, showing growth across new and used equipment sales, rentals, and product support.
Operating income saw a substantial increase of 41% for the second quarter and 42% for the first six months of 2026. This improvement was bolstered by higher sales and enhanced gross margins, though partly offset by increased selling, general, and administrative expenses.
Net earnings for the quarter were largely stable compared to the prior year. This was primarily due to expenses incurred from Toromont's commitment to acquire the remaining shares of its AVL power-generation enclosure business. Basic earnings per share for the second quarter stood at CAD 1.53.
