Toromont Industries, parent company of Stoney Creek, Ontario-based Battlefield Equipment, one of North America’s largest Caterpillar dealers, posted CDN $415 million (about U.S. $415.8 million) in the third quarter, compared with $367.3 million for the same period a year ago, a 13-percent increase.
The Equipment Group set new records for the quarter and the first nine months of the year, with $362 million in the quarter and $942 million year-to-date, increases of 15 and 14 percent respectively. Revenue growth in both periods was driven by higher new equipment rentals, sales, and product support.
“Our engagement level on major infrastructure and mining projects continues,” said Scott Medhurst, president and CEO of Toronto-based Toromont. “However we have seen recent signs of softening equipment demand. We have a strong product offering, leading market positions and momentum in rentals and product support. These factors, along with our disciplined approach, position the company well for long-term growth.”
Battlefield Equipment Rentals is No. 22 on the RER 100. It has 37 Cat Rental Store locations, 30 in Ontario, two in Manitoba and five in Newfoundland.
