Skip to main content

Construction equipment dealer Finning International Inc. reported record second-quarter earnings on higher revenues to due "exceptionally strong new equipment sales."

The Vancouver-based company, the world's largest Caterpillar dealer, said its second-quarter profit more than doubled to $82-million, or 48 cents per share, from $36-million, or 21 cents per share, a year ago.

Revenue increased to $1.49-billion from $1.07-billion.

Story continues below advertisement

The company saw higher profitability in Canada, the United Kingdom, and Ireland on strong demand for products and service.

Finning is currently negotiating with Caterpillar regarding the potential purchase of some distribution rights regarding a new Caterpillar acquisition.

But the company said it predicts third-quarter results will be partially impacted by a five-week strike in British Columbia, but the outlook for mining, construction and power systems remains strong for the next two years.

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

If your comment doesn't appear immediately it has been sent to a member of our moderation team for review

Read our community guidelines here

Discussion loading…

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.