Q1 2026 Finning International Inc Earnings Call Transcript
Key Points
- Finning International Inc (FINGF) reported its strongest Q1 adjusted EPS of $1.02, marking a significant achievement.
- Product support revenue grew for the eighth consecutive quarter, with a notable 13% increase in Canada.
- The company's backlog increased by 32% year-over-year, with significant growth in mining and Power & Energy sectors.
- Finning International Inc (FINGF) achieved a 7.4% dividend increase, marking its 25th consecutive year of dividend growth.
- The company is actively expanding its capabilities, with plans to open two new branches in Canada to support growth.
- Mining activity in Chile moderated as expected, impacting overall performance in the region.
- New equipment sales were down 4%, primarily due to lower mining equipment deliveries in South America.
- The company incurred $16 million in severance costs in South America due to organizational restructuring.
- SG&A margin increased by 20 basis points, reflecting higher people costs and LTIP expenses.
- Product support activity levels in South America are expected to moderate in the near term as customers adjust their mine plans.
Thank you for standing by. This is the conference operator. Welcome to the Finning International, Inc., first-quarter 2026 investor call and webcast. As a reminder, all participants are in listen-only mode, and the conference is being recorded. (Operator Instructions)
I would now like to turn the conference over to David Primrose, Executive Vice President and Chief Financial Officer. Please go ahead.
Thank you, operator. Good morning, everyone, and welcome to Finning's first-quarter earnings call. Joining me on today's call is Kevin Parkes, our President and CEO. Following our remarks, we will open the line to questions. This call is being webcast on the Investor Relations section of finning.com. We have also provided a set of slides on our website that we will reference and an audio file of this call and the accompanying slides will be archived.
Before I turn it over to Kevin, I want to remind everyone that some of the statements provided during
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