Finning International Reports Strong Q1 2026 Earnings with Record EPS and Backlog Growth

Finning International announced its first-quarter 2026 financial results, highlighting a record adjusted earnings per share of $1.02. President and CEO Kevin Parks emphasized the company's strong execution, noting that product support revenue grew for the eighth consecutive quarter, rising 6% globally and 13% in Canada. The mining sector remains a key strength, with the Canadian large mining truck population increasing by 25% over the past two years. While mining activity in Chile moderated due to customer recalibration, investment opportunities are emerging in Argentina. The company reported a significant 32% year-over-year increase in backlog, which more than doubled in the mining and power and energy segments in Canada. The power and energy backlog reached $1.2 billion, driven by prime power, oil and gas, and data center solutions. Construction backlog also grew substantially in South America and the UK and Ireland. Finning continues to prioritize rental discipline and cost optimization, resulting in a 60 basis point decline in SG&A margin despite targeted investments in new branches and inventory. The company maintains a focus on building its installed base to drive long-term value and resilient earnings.