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TMTNF - Toromont Industries: Backlog And Bookings Provide Insight Into Future Growth
Toromont Industries Ltd
2024-06-24 07:27:19 ET
Summary
Toromont is a major distributor of Caterpillar products and equipment, also offering equipment leasing and rental services.
Toromont has shown strong financial performance, delivering steady revenue and EBITDA growth, along with consistent dividend increases over 34 years.
While the company's latest Q1'24 results were fairly mediocre, backlog and bookings are near record levels, which bodes well for future revenue and earnings growth.
At 10.2x next year's EBTIDA, the company's valuation offers an attractive entry point for long-term shareholders.
Please note all $ figures in , not , unless otherwise stated.