Finning, the world’s largest Caterpillar dealership, representing Caterpillar in western Canada, Chile, Bolivia and Argentina, the U.K. and Ireland, posted CDN $3,130 million in revenue in the second quarter of 2026, compared to $2,609 million in the second quarter of 2025, a 20-percent increase. The revenue total, topping $3 billion for the first time for Finning, was led by new equipment sales in all regions and product support growth in Canada. Equipment rental revenue was $87 million compared to $73 million in the previous year’s second quarter, a 19.2-percent jump.

New equipment sales was the hottest segment, totaling $1,315 million compared to $982 million a year ago, a 33.9-percent hike.

Used equipment sales increased from $83 million to $98 million in the quarter, an 18.1-percent uptick. Product support revenue in Q226 was $1,629 million compared to $1,469 million in the same period a year ago, a 10.9-percent year-over-year incline.

“Our business continued to build momentum through the second quarter of 2026,” said Kevin Parkes, president and CEO. “We are pleased with our results, highlighted by 20% revenue growth taking us to $3.1 billion, driven by strong new equipment sales across all regions and continued product support growth. Through a combination of healthy customer demand, disciplined execution, and targeted investments in growth opportunities, we delivered earnings per share of $1.22, up 21 percent from the prior year while our equipment backlog remained at a record $3.8 billion at the end of June, up 22 percent since the beginning of the year.  

“Canada continued to lead our growth, with strong demand across all market sectors including product support revenue, up 19 percent in the quarter, while both our South American and U.K. & Ireland businesses continued to demonstrate resilience in dynamic market environments. Across all regions, our teams remained focused on balancing growth with disciplined cost and capital management.

“We generated EBIT of $249 million and maintained a strong adjusted return on invested capital of 19.0 percent. Our free cash flow was positive despite investments in working capital to support higher levels of business activity, and our balance sheet remains strong with net debt to adjusted EBITDA of 1.6 times.

“Looking ahead, we remain confident in our strategy and our ability to execute. Strong customer activity, a record backlog and growing product support revenues position us well for the future. We continue to focus on maximizing product support, enhancing full-cycle resilience and expanding our used equipment, rental, and power & energy businesses."

Regional highlights

In Canada, new equipment, used equipment and rental sales were all higher in the quarter, led by strong demand for new equipment in mining and continued market share gains in construction, the company said. In South America, new equipment sales were up 35 percent, led by increased construction and mining deliveries. New equipment sales were up 34 percent, driven by delivery of delayed sales from Q1 2026.

Finning expressed strong optimism in all regions.

“Our outlook for Western Canada is positive,” the company said in its quarterly report. “We expect strong activity levels in our mining business as customers grow fleets and maintain and rebuild aging equipment. In the power & energy sector, activity remains strong in the oil and gas market, with longer-term potential in the data center market where we continue active discussions with numerous customers on primary and back-up power generation opportunities. We are leveraging the expertise of our UK & Ireland operations with over a decade of experience in the data center space, to become a trusted and value-add partner to our customers.

“The construction sector continues to show signs of improvement. We are encouraged by announcements regarding the potential to accelerate resource development and infrastructure project activity, but we remain cautious with respect to the timing and magnitude of such potential activity. We remain focused on building resilience by managing our cost and invested capital levels.”

South American operations

“In Chile, our outlook is underpinned by growing global demand for copper, strong copper prices, capital deployment into large-scale brownfield expansions under supportive government priorities, and customer confidence to invest in greenfield projects,” the company said. “We are seeing a broad-based level of quoting, tender, and award activity for mining equipment, product support, and technology solutions.

“In the Chilean construction sector, we continue to see demand from large contractors supporting mining operations, and we expect infrastructure construction activity to remain steady. In the power & energy sector, activity remains strong in the industrial and data center markets, driving growing demand for electric power solutions.

“In Argentina, we are carefully positioning our business to capture opportunities, particularly in the oil and gas and mining sectors. The operating environment remains dynamic, and we continue to closely monitor the government’s rules and policies, some of which help drive large-scale investment. We expect activity levels to continue to improve in the coming years, subject to a constructive investment environment.”

Finning expects soft demand in the U.K. and Ireland construction sectors, hoping for a growing contribution from power and energy. “In power and energy, quoting activity remains strong, driven by healthy demand for primary and backup power generation, particularly backup power in the data center market.”