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Finning International (TSE:FTT)
TSX:FTT
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.86Last Year’s EPS
0.96Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2018
|% Change Since: -8.62%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong performance in South America, a significant increase in free cash flow, and robust growth in power systems and used equipment sales. However, it also addressed challenges in the Canadian market, severance costs, and a decline in rental revenue, leading to a cautious outlook for the U.K. and Ireland.Company Guidance
During the Q3 2024 earnings call for Finning International Inc., executives provided several key metrics and insights into the company's performance and future outlook. The company reported a net revenue of $2.5 billion, marking a 4% increase from Q3 2023, despite a 19% decline in adjusted EBIT due to lower margins in Canada. Adjusted EPS decreased by 13%, mitigated by a lower share count and effective tax rate. Free cash flow was robust at $346 million for the quarter, bringing the 12-month total to $746 million. The South American market demonstrated strong performance with a 14% increase in new equipment sales, while the U.K. and Ireland expanded their margin to 6.3% on adjusted EBIT as a percentage of net revenue. However, challenges persisted in Canada, where new equipment revenues rose by only 4%, and severance costs of $19 million were incurred as part of restructuring efforts. Product support revenue grew 2% year-over-year, with significant growth in South America, yet remained suboptimal in Canada and the U.K. The call also highlighted a consolidated used equipment revenue surge of 24% and a strategic focus on sustainable growth in the power systems sector, evidenced by a 44% increase in backlog. Management remains committed to executing its strategy, focusing on cost containment, product support maximization, and capital efficiency to drive resilience and growth.Strong Performance in South America
New equipment revenues in South America were up 14% overall, driven by mining deliveries. Used equipment sales were up 68% year-over-year, and product support revenue was up 7% year-over-year, showcasing strong demand from mining and oil and gas sectors.
Free Cash Flow Achievement
Generated $346 million of free cash flow in Q3 and $746 million over the last 12 months, exceeding net income.
Power Systems Backlog Growth
Power systems backlog increased 44% since last quarter, driven by demand in the U.K. and Ireland data center market.
Successful Used Equipment Sales
Consolidated used equipment revenues were up 24% year-over-year, with notable increases of nearly 50% in the U.K. and nearly 70% in South America.
Cost Control Measures
SG&A as a percentage of net revenue was maintained below 17% for the 6th consecutive quarter, demonstrating strong cost control.
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TSE:FTT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:FTT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | C$41.41 | C$37.64 | -9.10% |
| Aug 06, 2024 | C$36.46 | C$35.29 | -3.21% |
| May 06, 2024 | C$39.99 | C$41.37 | +3.45% |
| Feb 06, 2024 | C$38.63 | C$35.08 | -9.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Finning International (TSE:FTT) report earnings?
Finning International (TSE:FTT) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Finning International (TSE:FTT) earnings time?
Finning International (TSE:FTT) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:FTT EPS forecast?
TSE:FTT EPS forecast for the fiscal quarter 2024 (Q4) is 0.86.
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