Equipment Rental Strong for Finning in First Quarter
Finning, the world’s largest Caterpillar dealer, posted equipment rental revenue of CDN $81 million in the first quarter of 2026, compared to $72 million in the first quarter of 2025, a 12.5 percent increase. Total revenue for Finning International was CDN $2,501 million, compared to $2,450 million in the first quarter of 2025, a 2.1-percent increase.
New equipment sales totaled $800 million compared to $835 million in the year-ago quarter, a 4.2-percent decline. Product support revenue was $1,531 million compared to $1,441 million in the year-ago quarter, a 6.2-percent increase.
“We are pleased with another quarter of strong product support revenue led by double digit growth in Canada, disciplined cost and capital management, and proactive capture of growth opportunities in the power & energy and rental markets,” said president and CEO Kevin Parkes. “Through the combination of supportive business activity and our team’s thoughtful execution, we achieved $1.02 in adjusted earnings per share this quarter, which marked a record for Q1. Meanwhile, our equipment backlog reached $3.8 billion at the end of March, bolstered by our recent strategically important equipment orders from mining customers in Argentina and Canada.
“Our UK and Ireland business consistently demonstrates resilience and as our South America business navigates a moderated growth environment over the near term, we are proud to see our Canada business carrying forward the baton of growth with refreshed business momentum across all market sectors while carefully managing cost and capital levels to support this accelerated growth.
“Our board approved an increase in our quarterly dividend by 7.4 percent to $0.325 per share, marking our 25th consecutive year of growth. This increase is well-supported by our transformed earnings capacity and demonstrates our strong commitment to returning capital to shareholders. Looking ahead, we remain confident in our strategy and focused on execution to maximize product support, strengthen full-cycle resilience and prudently grow our used, rental and power & energy businesses.”
Finning, headquartered in Vancouver, has operations in western Canada, Chile, Argentina, Bolivia, United Kingdom and Ireland.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.