Toromont Announces Results for the First Quarter of 2017 and Quarterly Dividend
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/26/17 -- Toromont Industries Ltd. (TSX: TIH) reported its financial results for the first quarter ended March 31, 2017.
"Toromont delivered continued growth in the first quarter on strong execution across the business," said Scott J. Medhurst, President and Chief Executive Officer of Toromont Industries Ltd. "The Equipment Group performed well on strength in mining, power systems and rentals despite broad challenges with tight pricing conditions. CIMCO delivered solid results with excellent activity in Canada. Product support continues to provide a strong foundation for both Groups. Our balance sheet remained strong and positions us well."
First Quarter Highlights:
"The long-term outlook for infrastructure spending remains positive following the federal budget, however we await clarity on the timing and nature of the anticipated spending. We also remain cautiously optimistic on various provincial spending initiatives and expect to get better visibility in the coming months. We are beginning to see increased activity in the mining sector. Performance at CIMCO continues to be positive and represents the emerging realization of focused strategies," continued Mr. Medhurst. "Across our organization, strong product support growth, together with diverse products and markets, provides a sound financial base, operational stability and opportunities for continued success."
Quarterly Results Materials
The complete first quarter report for 2017, including MD&A and unaudited interim condensed consolidated financial statements, is available on our website at .
Quarterly Conference Call and Webcast
Interested parties are invited to join the quarterly conference call with investment analysts, in listen-only mode, on Thursday, April 27, 2017 at 8:00 a.m. (ET). The call may be accessed by telephone at 1-877-467-6811 (toll free) or 647-427-2254 (international) and quoting passcode 7875829. A replay of the conference call will be available until Friday, May 5, 2017, by calling 1-800-585-8367 (toll free) or 404-537-3406 (international) and quoting passcode 7875829.
Both the live webcast and the replay of the quarterly conference call can be accessed at .
Advisory
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time including, but not limited to, general economic and industry growth rates, commodity prices, currency exchange and interest rates, competitive intensity and shareholder and regulatory approvals.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Toromont to control or predict. The actual results, performance or achievements of Toromont could differ materially from those expressed or implied by forward- looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: business cycles, including general economic conditions in the countries in which Toromont operates; commodity price changes, including changes in the price of precious and base metals; changes in foreign exchange rates, including the Cdn$/US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply; increased competition; credit of third parties; additional costs associated with warranties and maintenance contracts; changes in interest rates; the availability of financing; and, environmental regulation.
Any of the above mentioned risks and uncertainties could cause or contribute to actual results that are materially different from those expressed or implied in the forward-looking information and statements included in this press release. For a further description of certain risks and uncertainties and other factors that could cause or contribute to actual results that are materially different, see the risks and uncertainties set out in the "Risks and Risk Management" and "Outlook" sections of Toromont''s most recent annual or interim Management Discussion and Analysis, as filed with Canadian securities regulators at or at . Other factors, risks and uncertainties not presently known to Toromont or that Toromont currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Toromont disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
About Toromont
Toromont Industries Ltd. operates through two business segments: the Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations and an expanding agricultural equipment business. CIMCO is a market leader in the design, engineering, fabrication and installation of industrial and recreational refrigeration systems. Both segments offer comprehensive product support capabilities. This press release and more information about Toromont Industries Ltd. can be found at .
FOOTNOTES
Contacts:
Scott J. Medhurst
President and Chief Executive Officer
Toromont Industries Ltd.
(416) 667-5588
Paul R. Jewer
Executive Vice President and Chief Financial Officer
Toromont Industries Ltd.
(416) 514-4790
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2017 - 14:20 Uhr
Sprache: Deutsch
News-ID 1500742
Anzahl Zeichen: 3520
contact information:
Contact person:
Town:
TORONTO, ONTARIO
Phone:
Kategorie:
Oil & Gas
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 322 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Toromont Announces Results for the First Quarter of 2017 and Quarterly Dividend
"
steht unter der journalistisch-redaktionellen Verantwortung von
Toromont Industries Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
