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Earnings

Finning reports Q4 and Annual 2025 results

By The Northwire Desk — AI Analysis Feb 10, 2026 · 17:53 FTT · 89.62 FINNING INTERNATIONAL INC.
FTT · Price

Executive Summary

  • Finning International reported Q4 2025 revenue of C$2.7 bn (+6% YoY) and full‑year 2025 revenue of C$10.6 bn (+7% YoY).
  • Adjusted EPS for Q4 2025 was C$1.00, up 3% YoY; free cash flow from continuing operations reached C$642 m, a 61% increase.
  • The Board declared a quarterly dividend of C$0.3025 per share (payable March 12, 2026) and repurchased 5.3 m shares at an average price of C$54.33.

Key Details

  • Revenue: Q4 C$2.690 bn (+6% YoY); FY C$10.591 bn (+7%).
  • Product Support Revenue: Up 8% to C$1.507 bn; 7th consecutive quarter of YoY growth.
  • New Equipment Sales: C$1.0 bn (+9% YoY).
  • Equipment Backlog: Record C$3.1 bn at year‑end.
  • SG&A Margin: 15.4% (incl. $21 m LTIP expense).
  • Adjusted EBIT: Q4 C$209 m (down 2% YoY); FY C$869 m (+6%).
  • Adjusted EBIT Margin: 7.8% in Q4 (down 60 bps YoY).
  • Adjusted ROIC (continuing): 19.2% for FY 2025 (up 130 bps YoY).
  • Free Cash Flow (Continuing): Q4 C$642 m (+61% YoY); FY C$546 m (‑33% YoY).
  • Net Debt / Adjusted EBITDA: 1.2× at Dec 31 2025 (down from 1.7×).
  • Dividend: $0.3025 per share, payable 12 Mar 2026; record date 26 Feb 2026.
  • Share Repurchase: 5.3 m shares at avg. C$54.33, ~3.9% of float.
  • Regional Highlights:
  • South America – Revenue +5%; Adjusted EBIT margin 10.4% (‑50 bps YoY).
  • Canada – Revenue +5%; Adjusted EBIT margin 8.1% (+60 bps YoY).
  • UK & Ireland – Revenue +14%; Adjusted EBIT margin 4.6% (‑120 bps YoY).
  • Strategic Outlook: Target net capital and rental fleet spend > C$350 m in 2026; focus on product support, cost discipline, and growth in used, rental, and power & energy businesses.

Notable Quotes

“2025 was a very strong year for our company… we generated strong free cash flow and created value for shareholders through earnings growth, lower share count, and reduction in net debt.” – Kevin Parkes, President & CEO

“Our earnings capacity has been significantly transformed… product support revenue is approaching $6 bn annually while backlog sits at an all‑time high of $3.1 bn.” – Kevin Parkes, President & CEO

Read the original news release →

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Earnings