Toromont Industries Ltd. (TIH) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Today is Wednesday, April 29th, 2026. Welcome to the Toromont Industries Ltd. first quarter 2026 results conference call. Please be advised that this call is being recorded and all lines have been placed on mute to prevent any background noise. Your host for today will be Mr. John Doolittle, Executive Vice President and Chief Financial Officer. Please go ahead, sir. Hey, well, thank you, Angeline. Bonjour, everyone. Thank you for joining us today to discuss Toromont's results for the first quarter of 2026. Also on the call with me this morning is Mike McMillan, President and Chief Executive Officer. We're in beautiful Montreal today. Mike and I will be referring to the presentation that is available on our website. To start, I would like to refer our listeners to slide two, which contains our advisory regarding forward-looking information and statements. After our prepared remarks, we would like to We will be more than happy to answer questions, so let's get started and move to slide three. And Mike, over to you. Great. Thanks, John. Good morning, everyone, and thanks for joining us. Our team performed well in the quarter despite ongoing uncertainty in global trade markets. 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 continues to increase production, supporting data center requirements primarily in the eastern U.S. region. Based upon operating performance and our view of market demand, we continue to consider opportunities to invest in the growth of our power and energy business. As such, effective today, we have increased our percentage o...