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.
Introduction
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Toromont Industries: Backlog And Bookings Provide Insight Into Future Growth