TOROMONT ANNOUNCES RESULTS FOR THE SECOND QUARTER OF 2026 AND QUARTERLY DIVIDEND

About this update from Toromont Industries Ltd.

TORONTO, July 28, 2026 /CNW/ -- Toromont Industries Ltd. (TSX: TIH) today reported its financial results for the second quarter ended June 30, 2026. "We are pleased with our second quarter and first-half performance," said Michael S. McMillan, President and Chief Executive Officer of Toromont Industries Ltd. "Revenue and earnings increased, reflecting solid execution across the business. The Equipment Group delivered growth in new and used equipment sales, rentals, and product support, while AVL continued to expand production. We also increased our ownership in AVL to 80% and acquired land in Canada to support future manufacturing growth. CIMCO's results were slightly lower in the quarter due to project timing and investments for future growth. Across the business, bookings were strong and backlog healthy. Our financial position remained robust, supported by strong cash generation and disciplined working capital management." HIGHLIGHTS: Consolidated Results Equipment Group CIMCO Financial Position "We continue to focus on operating disciplines, including expense management and balance sheet optimization, while investing in capacity and capabilities to provide exceptional service to our customers today and in the future," stated John M. Doolittle, Executive Vice President and Chief Financial Officer of Toromont Industries Ltd. "Our long-term, disciplined approach to deploying capital is even more important in this economic environment and our return on capital deployed remains a top priority. We continue to believe we are well positioned to benefit from future growth and returns over the longer term. The order backlog and our operating disciplines, along with our strong balance sheet, position us well for the future." FINANCIAL AND OPERATING RESULTS All comparative figures in this press release are for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025. All financial information presented in this press release has been prepared in accordance with IFRS Accounting Standards ("IFRS"), except as noted below, and are reported in Canadian dollars. This press release contains only selected financial and operational highlights and should be read in conjunction with Toromont's unaudited interim co...

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