Toromont Industries Ltd. (TIH) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Today is Wednesday, July 30, 2025. Welcome to the Torremont Industries Limited Second Quarter 2025 Results Conference Call. Please be advised that this call is being recorded and all lines have been placed on mute to prevent any backer noise. Your host for today will be Mr. John Doolittle, Executive Vice President and Chief Financial Officer. Please go ahead, Mr. Doolittle. Okay. Thank you, Ludi. Good morning, everyone. Thank you for joining us today to discuss our month's results for the second quarter of 2025. Also on the call with me this morning is Mike McMillan, President and Chief Executive Officer. 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'll be more than happy to answer questions. Let's get started and move to slide three. And Mike, over to you to start us off. Great, thanks very much, John. Good morning, everyone, and thanks for joining us. Our team delivered resilient second quarter results while continuing to navigate macroeconomic and international trade uncertainties. Our disciplined approach remains unchanged, and we continue to invest in our people and capabilities to support our customers today and for the future. Revenue increased overall while net income was slightly lower reflecting reduced interest income and short-term non-cash costs related to the AVL acquisition. The equipment group performed well with growth in rental and product support and new equipment deliveries in the construction and power segments. These were offset by lower deliveries in the mining segment as expected, which tends to be more variable due to the ...