Toromont Industries Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Toromont Industries (TSE:TIH) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$1.34b (up 14% from 3Q 2023).
• Net income: CA$131.0m (down 10% from 3Q 2023).
• Profit margin: 9.8% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CA$1.60 (down from CA$1.77 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Toromont Industries Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) missed analyst estimates by 5.9%.

Looking ahead, revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Trade Distributors industry in Canada.

Performance of the Canadian Trade Distributors industry.

The company's shares are down 7.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Toromont Industries that you should be aware of.

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