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Toromont Announces Results for the Third Quarter of 2019 and Quarterly Dividend

TORONTO, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Toromont Industries Ltd. (TSX: TIH) reported its financial results for the third quarter ended September 30, 2019.






Three months ended September 30







Nine months ended September 30



millions, except per share amounts







2019







2018



% change











2019







2018



% change



































Revenues



$



A  975.2



$



A  900.1



8



%







$



A  2,653.5



$



A  2,538.2



5



%



Operating income



$



A  114.5



$



A  99.8



15



%







$



A  284.3



$



A  247.9



15



%



Net earnings



$



A  79.7



$



A  68.7



16



%







$



A  196.3



$



A  167.1



17



%



Basic earnings per share ("EPS")



$



A  0.98



$



A  0.84



17



%







$



A  2.41



$



A  2.06



17



%

























































a??The Company delivered strong results in the quarter on solid execution and disciplined expense management,a?? said Scott J. Medhurst, President and Chief Executive Officer of Toromont Industries Ltd. a??The increasing proportion of product support and rental revenues to total revenues across the enterprise continues to contribute positively to higher earnings.a??Highlights: Consolidated results

Net earnings increased $11.0 million or 16% in the quarter versus a year ago to $79.7 million or $0.98 EPS.




On a year-to-date basis, net earnings and EPS were up 17%. Adjusted to exclude the non-recurring gain recorded in the first quarter described in note 9 to the financial statements, net earnings and EPS were up 15%.

Equipment Group
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