Toromont Industries Ltd. (TIH) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Today is Wednesday, February 11, 2026. Welcome to the Torment Industries Limited 2025 Fourth Quarter and Full Year 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. Thank you very much, Ludi. Morning, everyone. Thank you for joining us today to discuss Tormont's results for the fourth quarter and full year 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, so let's get started and move to slide three. Over to you, Mike. Great. Thanks very much, John. Good morning, everyone, and thanks for joining us this morning. Our team delivered solid results in the fourth quarter, closing out the year on a positive note despite persistent macroeconomic and trade uncertainty. We remain focused on long-term performance, continue to invest in our people and capabilities to support our customers, and drive sustainable growth over the long-term cycle. Earnings improved over the course of the year, although full-year earnings showed a modest decline due to factors such as investment in growth-related initiatives, lower net interest income, and short-term non-cash costs from the AVL acquisition, which John will expand upon shortly. The equipment group executed well, with solid activity in rentals, pr...