Toromont Industries Ltd. (TIH) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Today is Friday, October 31st, 2025. Welcome to the Torremont Industries Limited Third 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 background 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, Joelle. Good morning, everyone. Thank you for joining us today to discuss Torremont's results for the third 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. And to start, I'd 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, so let's get started and move to slide three, and I'll pass it over to you, Mike. Great. Thanks very much, John. Good morning, everyone, and thanks for joining us. Our team delivered solid results in the third quarter, executing effectively despite persistent macroeconomic and trade challenges. We remain focused on long-term success, continuing to invest in our people and capabilities to support our customers and drive sustainable growth. Net income rose aided by a property sale, while underlying earnings reflected growth-related investments, lower net interest income, and short-term non-cash costs from the AVL acquisition. The equipment group executed well with solid activity in rentals, product support, and used equipment deliveries in construction and mining. However, activity levels still reflect the economic environment, which continues to impact e...