Tornado Global Hydrovacs Reports Third Quarter 2024 Results
Tornado Global Hydrovacs Reports Third Quarter 2024 Results
Net Income Per Share Increased by 100% Compared to Q3/2023
每股净利润相比2023年第三季度增长了100%
CALGARY, Alberta, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Tornado Global Hydrovacs Ltd. ("Tornado" or the "Company") (TSX-V: TGH; OTCQX: TGHLF) today reported its unaudited condensed consolidated financial results for the three and nine month periods ended September 30, 2024. The unaudited condensed consolidated financial statements and related management discussion and analysis are available on the Company's issuer profile in Canada on SEDAR+ at , the United States at and on the Company's website at . All amounts reported in this news release are in thousands ($000's CAD) except per share amounts.
加拿大艾伯塔省,2024年11月18日,(环球新闻社)- 托纳多全球集团水力吸尘器有限公司("托纳多"或"公司")(TSX-V: TGH; OTCQX: TGHLF)今天报告了截至2024年9月30日的三个月和九个月的未经审计的简明综合财务业绩。未经审计的简明综合财务报表和相关管理讨论与分析可以在加拿大SEDAR+的公司发行人资料中找到,在美国可以在 找到。本新闻稿中报告的所有金额均以千元($000的加元)为单位,除每股金额外。 在美国可以在 找到 2024年8月2日上午9点(东部时间),DPm将举行电话会议和音频网络研讨会,讨论财报结果,并进行问答环节。请提前注册以获取拨号信息和个人识别码,参加电话会议。具体请参见以下表格中的链接。本新闻稿中报告的所有金额均以千元($000的加元)为单位,除每股金额外。
Third Quarter 2024 Overview and Significant Developments
2024年第三季度概况和重大进展
- Net income per share (diluted) of $0.014 increased by $0.007 (100.0%) compared to $0.007 in Q3/2023. Net income of $1,990 increased by $1,046 (138.2%) compared to $944 in Q3/2023. This increase was principally due to increased revenue and the associated increased EBITDAS(1).
- EBITDAS per share (diluted)(1) of $0.023 increased by $0.007 (43.8%) compared to $0.016 in Q3/2023. EBITDAS(1) of $3,090 increased by $938 (43.6%) compared to $2,152 in Q3/2023. This increase was principally due to increased revenue and the associated increased gross profit.
- Revenue of $30,451 increased by $3,370 (12.4%) compared to $27,081 in Q3/2023 as a result of: (i) the positive impact of the four-year Product Supply and Development Agreement (the "Supply Contract") with Ditch Witch, a division of The Toro Company ("Ditch Witch"), which the Company entered into in 2022 for the co-development and supply of customized hydrovac trucks; (ii) the increase in sales from the sales arrangement with Custom Truck One Source, who is a single-source provider of specialized truck and heavy equipment solutions with over 40 locations across North America ("Custom Truck"); (iii) the increase in sales pricing of hydrovac trucks; (iv) the increase in the number of hydrovac trucks sold; and (v) the increase in demand for hydrovac trucks in North America.
- Gross profit of $5,248 increased by $1,279 (32.2%) compared to $3,969 in Q3/2023 principally due to increased revenue and improved production efficiency at the Red Deer Facility.
- Selling and general administrative expenses of $2,258 increased by $359 (18.9%) compared to $1,899 in Q3/2023. The increase was principally due to generally increased employee, sales and travel costs to handle present and anticipated growth.
- 每股净利润(摊薄)为0.014美元,比2023年第三季度的0.007美元增加了0.007美元(100.0%)。净利润为1,990美元,比2023年第三季度的944美元增加了1,046美元(138.2%)。这一增长主要是由于营业收入的增加以及相应的EBITDAS(1)的增加。
- 每股EBITDAS(摊薄)(1)为0.023美元,比2023年第三季度的0.016美元增加了0.007美元(43.8%)。EBITDAS(1)为3,090美元,比2023年第三季度的2,152美元增加了938美元(43.6%)。这一增长主要是由于营业收入的增加以及相应的毛利润的增加。
- 营业收入为30,451美元,比2023年第三季度的27,081美元增加了3,370美元(12.4%),原因是:(i)与托罗公司(“托罗配件”)旗下的沟槽公司达成的为期四年的产品供应和开发协议(“供应合同”)产生的积极影响,该公司于2022年与沟槽公司合作开发和供应定制的水力吸沙卡车;(ii)与Custom Truck One Source达成的销售安排带来的销售增长,Custom Truck One Source是北美40多个地点提供专业卡车和重型机械解决方案的独家供应商;(iii)水力吸沙卡车销售价格的增加;(iv)水力吸沙卡车销售数量的增加;以及(v)北美对水力吸沙卡车需求的增加。
- 毛利润为5,248美元,比2023年第三季度的3,969美元增加了1,279美元(32.2%),主要是由于营业收入的增加及红鹿工厂生产效率的提高。
- 销售和一般行政费用为2,258美元,比2023年第三季度的1,899美元增加了359美元(18.9%)。这一增长主要是由于员工、销售和差旅成本的普遍增加,以处理当前和预期的增长。
1 EBITDAS is calculated by subtracting interest, tax, depreciation, amortization, stock-based compensation, gain/loss on foreign exchange and change in fair value of derivative financial instruments from earnings. EBITDAS per share (diluted) is calculated by dividing EBITDAS by the total number of diluted common shares. The terms EBITDAS and EBITDAS per share (diluted) are non-IFRS financial measures and readers are cautioned that EBITDAS and EBITDAS per share (diluted) should not be considered to be more meaningful than net income determined in accordance with IFRS.
1. EBITDAS是通过从收入中减去利息、税金、折旧、摊销、以股份为基础的补偿、外汇收益/损失和衍生金融工具公允价值变动来计算的。每股EBITDAS(摊薄)是通过将EBITDAS除以摊薄普通股的总数来计算的。术语EBITDAS和每股EBITDAS(摊薄)是非IFRS财务指标,读者应该注意EBITDAS和每股EBITDAS(摊薄)不应被认为比根据IFRS确定的净利润更有意义。
Brett Newton, President and CEO of Tornado, shared his insights on the company's performance and future outlook: "Tornado has delivered another strong quarter, with Q3 2024 showing continuing financial growth compared to the same period last year. This quarter reflects our commitment to growth with the successful launch of a major new product in Q3. This launch, combined with preparation for the construction of our new facility, required reallocating resources and adjusting our production line, which temporarily slowed down overall production. The new facility, expected to be completed by Q2 2025, will significantly increase our production capacity. With these strategic initiatives underway, we anticipate a return to full production capacity in Q4 2024 and remain confident in our continued upward momentum."
托尔内华达(Tornado)的总裁兼首席执行官布雷特·纽顿(Brett Newton)分享了对公司业绩和未来展望的看法:“托尔内华达在第三季度2024年展示了持续的财务增长,相比去年同期有所增长。这一季度反映了我们在增长方面的承诺,成功推出了一个重大新产品。这次推出,加上准备建设新厂房,需要重新分配资源并调整生产线,这暂时减缓了整体生产速度。预计到2025年第二季度完成的新厂房将显著增加我们的生产能力。随着这些战略举措的实施,我们预计在2024年第四季度恢复到全面生产能力,并对我们持续向上的势头充满信心。”
Financial and Operating Highlights (in CAD $000's except outstanding common share and per share data) | |||||||||||||
Three months ended September 30 | Nine Months ended September 30 | ||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||
Revenue | $ | 30,451 | $ | 27,081 | $ | 98,778 | $ | 71,706 | |||||
Cost of sales | 25,203 | 23,112 | 81,554 | 60,393 | |||||||||
Gross profit | 5,248 | 3,969 | 17,224 | 11,313 | |||||||||
Selling and general administrative expenses | 2,258 | 1,899 | 7,195 | 5,639 | |||||||||
Other (gain) loss - foreign exchange | (50) | (29) | (390) | 49 | |||||||||
Depreciation and amortization | 254 | 120 | 637 | 666 | |||||||||
Finance expense | 63 | 176 | 215 | 501 | |||||||||
Stock-based compensation | 157 | 637 | 550 | 864 | |||||||||
Change in fair value of derivative financial instruments | (80) | - | (80) | - | |||||||||
Gain on disposal of fixed assets | - | - | (9) | - | |||||||||
Income before tax | 2,646 | 1,166 | 9,106 | 3,594 | |||||||||
Income tax expense | (656) | (222) | (2,178) | (811) | |||||||||
Net income | $ | 1,990 | $ | 944 | $ | 6,928 | $ | 2,783 | |||||
EBITDAS (1) | $ | 3,090 | $ | 2,152 | $ | 10,302 | $ | 5,900 | |||||
Outstanding common shares | 137,556,119 | 135,871,119 | 137,556,119 | 135,871,119 | |||||||||
EBITDAS per share - diluted (1) | $ | 0.023 | $ | 0.016 | $ | 0.075 | $ | 0.043 | |||||
Net income per share - diluted | $ | 0.014 | $ | 0.007 | $ | 0.051 | $ | 0.020 |
财务和运营要点(以加元$000为单位,除了未偿付的普通股和每股数据) | |||||||||||||
截至9月30日的三个月 | 截至9月30日的九个月 | ||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||
收入 | $ | 30,451 | $ | 27,081 | $ | 98,778 | $ | 71,706 | |||||
销售成本 | 25,203 | 23,112 | 81,554 | 60,393 | |||||||||
毛利润 | 5,248 | 3,969 | 17,224 | 11,313 | |||||||||
销售和一般行政费用 | 2,258 | 1,899 | 7,195 | 5,639 | |||||||||
其他(盈利)损失 - 汇率期货 | (50) | (29) | (390) | 49 | |||||||||
折旧和摊销 | 254 | 120 | 637 | 666 | |||||||||
财务费用 | 63 | 176 | 215 | 501 | |||||||||
基于股票的补偿 | 157 | 637 | 550 | 864 | |||||||||
衍生金融工具公允价值的变动 | (80) | - | (80) | - | |||||||||
固定资产处置收益 | - | - | (9) | - | |||||||||
税前收入 | 2,646 | 1,166 | 9,106 | 3,594 | |||||||||
所得税费用 | (656) | (222) | (2,178) | (811) | |||||||||
净利润 | $ | 1,990 | $ | 944 | $ | 6,928 | $ | 2,783 | |||||
EBITDAS(1) | $ | 3,090 | $ | 2152 | $ | 10,302 | $ | 5,900 | |||||
未偿普通股 | 137,556,119 | 135,871,119 | 137,556,119 | 135,871,119 | |||||||||
每股摊薄息前税后利润 - 摊薄 (1) | $ | 0.023 | $ | 0.016 | $ | 0.075 | $ | 0.043 | |||||
每股净利润-摊薄 | $ | 0.014 | $ | 0.007 | $ | 0.051 | $ | 0.020 |
1 EBITDAS is calculated by subtracting interest, tax, depreciation, amortization, stock-based compensation, gain/loss on foreign exchange and change in fair value of derivative financial instruments from earnings. EBITDAS per share (diluted) is calculated by dividing EBITDAS by the total number of diluted common shares. The terms EBITDAS and EBITDAS per share (diluted) are non-IFRS financial measures and readers are cautioned that EBITDAS and EBITDAS per share (diluted) should not be considered to be more meaningful than net income determined in accordance with IFRS.
1. EBITDAS是通过从收入中减去利息、税金、折旧、摊销、以股份为基础的补偿、外汇收益/损失和衍生金融工具公允价值变动来计算的。每股EBITDAS(摊薄)是通过将EBITDAS除以摊薄普通股的总数来计算的。术语EBITDAS和每股EBITDAS(摊薄)是非IFRS财务指标,读者应该注意EBITDAS和每股EBITDAS(摊薄)不应被认为比根据IFRS确定的净利润更有意义。
Outlook
展望
Management expects the Company's production and sales of hydrovac trucks and profitability to continue to grow in the remainder of 2024 and into 2025 for the following reasons:
管理层预计公司的水力吸引车辆的生产和销售以及盈利能力将在2024年剩余时间和2025年继续增长的原因如下:
- Expected continued spending on infrastructure in North America.
- The continuing addition of new and innovative products that will support the infrastructure, telecommunications and oil and gas industries.
- The anticipated increasing revenues and benefits from the Supply Contract with Ditch Witch.
- The anticipated increasing revenues and benefits from the sales arrangement with its US strategic partner, Custom Truck.
- The anticipated increase in production capacity and operating efficiencies resulting from the completion of the new building being constructed at the Red Deer facility, which is expected to be completed in Q2/2025.
- The Company's commitment to continuous improvement of its hydrovac truck design which in the Company's view will result in advantages over other hydrovac trucks currently offered in the market.
- The Company's ability to continue to secure key manufacturing components, including chassis for customers, into future years through strategic supplier relationships.
- The Company has strengthened its dealer relationships in both Canada and US to meet the expected demand increase.
- Expanded North American coverage for maintenance warranty and repair to serve customers better.
- 预计在北美继续增加的基础设施投资。
- 不断推出支持基础设施、电信和石油天然气行业的新产品。
- 预计与Ditch Witch的供应合同将带来收入和利益的增长。
- 公司预计由与其美国战略合作伙伴Custom Truck的销售安排带来的营收和利润增加。
- 预计由Red Deer设施新建筑施工完工而带来的产能增加和运营效率提高,该建设预计将于2025年Q2完成。
- 公司致力于不断改进其水洗车设计,公司认为这将使其相对于目前市场上提供的其他水洗车具有优势。
- 公司有能力通过战略供应商关系,持续确保未来几年内为客户提供关键制造元件,包括底盘。
- 公司已加强与加拿大和美国的经销商关系,以满足预期的需求增加。
- 扩大维护保修和维修的北美覆盖范围,以更好地服务客户。
About Tornado Global Hydrovacs Ltd.
关于Tornado Global Hydrovacs Ltd.
Tornado is a pioneer and leader in the vacuum truck industry and has been a choice of utility and oilfield professionals with over 1,500 hydrovacs sold since 2005. The Company designs and manufactures hydrovac trucks as well as provides heavy duty truck maintenance operations in central Alberta. It sells hydrovac trucks to excavation service providers in the infrastructure and industrial construction and oil and gas markets. Hydrovac trucks use high pressure water and vacuum to safely penetrate and cut soil to expose critical infrastructure for repair and installation without damage. Hydrovac excavation methods are quickly becoming a standard in North America to safely excavate in urban areas and around critical infrastructure greatly reducing infrastructure damage and related fatalities.
龙卷风是真空卡车行业的先驱和领导者,自2005年以来,已售出超过1,500辆水电真空车,成为公共事业和油田专业人员的选择。公司设计和制造水电真空卡车,并在阿尔伯塔省中部提供重型卡车维护服务。它向基础设施和工业施工以及油气市场的挖掘服务提供商销售水电真空卡车。水电真空卡车使用高压水和真空安全地穿透和切割土壤,以便在不损坏的情况下暴露关键基础设施进行修复和安装。水电真空挖掘方法正在迅速成为北美城市地区安全挖掘以及在关键基础设施周围的标准,极大减少了基础设施损坏和相关的死亡事件。
For more information about Tornado Global Hydrovacs Ltd., visit or contact:
有关龙卷风全球水电真空有限公司的更多信息,请访问 或联系:
Brett Newton President and Chief Executive Officer Phone: (587) 802-5070 Email: bnewton@tghl.ca |
Derek Li Vice President, Finance Phone: (403) 204-6350 Email: dli@tghl.ca |
布雷特·纽顿 总裁兼首席执行官 电话:(587)802-5070 电子邮件:bnewton@tghl.ca |
Derek Li 财务副总裁 电话:(403)204-6350 电子邮件:dli@tghl.ca |
Advisory
咨询业务
Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events. All statements other than statements of historical fact are forward-looking statements. The use of the words "anticipates", "should", ''may", "expected", "expects", "believes" and other words of a similar nature are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Tornado believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Such statements include those with respect to:
本新闻稿中包含的某些声明构成前瞻性声明。这些声明涉及未来事件。除历史事实之外的所有声明都是前瞻性声明。使用"预计"、"应当"、"可能"、"预期"、"期望"、"相信"等类似性质的词语旨在识别前瞻性声明。这些声明涉及已知和未知的风险、不确定性和其他因素,可能导致实际结果或事件与前瞻性声明中预期的结果大为不同。尽管Tornado认为这些声明是合理的,但不能保证这些期望会被证明正确,因此本新闻稿中包含的这些前瞻性声明不应过分依赖。此类声明包括以下内容:
- the Company's outlook for the remainder of 2024 and into 2025 generally;
- the expectation that the Company's production, sales of hydrovac trucks and profitability for the remainder of 2024 and into 2025 will continue to grow;
- the anticipation of increasing revenues and benefits from the Supply Contract with Ditch Witch.
- the anticipated increasing revenues and benefits from the sales arrangement with its US strategic partner, Custom Truck;
- anticipated increase in production capacity and operating efficiencies resulting from the completion of the new building being constructed at the Red Deer Facility, which is expected to be completed in Q2/2025;
- the expectation of continued spending on infrastructure in North America;
- the expectation of adding new and innovative products that will support the infrastructure, telecommunications and oil and gas industries;
- management's belief that the Company's commitment to continuous improvement of its hydrovac truck design which in the Company's view will result in advantages over other hydrovac trucks currently offered in the market;
- management's belief in its continuing ability of securing key manufacturing components, including chassis, for customers into future years through strategic supplier relationships;
- management's belief in the positive impact of strengthened dealer relationships in both Canada and US to meet the expected demand increase;
- management's belief in the positive impact of expanded North American coverage for maintenance warranty and repair; and
- management's expectation of returning to full production capacity by Q4 2024 and confidence in sustained upward momentum driven by strategic initiatives.
- 公司对2024年剩余时间和2025年的展望;
- 预计公司的生产、水力吸土车销售和2024年余下时间以及2025年的盈利能够持续增长;
- 预期与Ditch Witch的供应合同带来的收入增长和收益;
- 预期从其美国战略合作伙伴Custom Truck的销售安排中的收入增长和收益;
- 预计由于红鹿设施正在建造的新建筑物预计于2025年第二季度完工,预期生产能力和运营效率将进一步提高;
- 预期北美基础设施持续投资;
- the expectation of adding new and innovative products that will support the infrastructure, telecommunications and oil and gas industries;
- management's belief that the Company's commitment to continuous improvement of its hydrovac truck design which in the Company's view will result in advantages over other hydrovac trucks currently offered in the market;
- management's belief in its continuing ability of securing key manufacturing components, including chassis, for customers into future years through strategic supplier relationships;
- management's belief in the positive impact of strengthened dealer relationships in both Canada and US to meet the expected demand increase;
- management's belief in the positive impact of expanded North American coverage for maintenance warranty and repair; and
- management's expectation of returning to full production capacity by Q4 2024 and confidence in sustained upward momentum driven by strategic initiatives.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, including restrictions on trade and tariffs, and other factors, many of which are beyond the control of Tornado. Although Tornado believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The forward-looking statements contained in this news release represent Tornado's expectations as of the date hereof and are subject to change after such date. Tornado disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, including restrictions on trade and tariffs, and other factors, many of which are beyond the control of Tornado. Although Tornado believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The forward-looking statements contained in this news release represent Tornado's expectations as of the date hereof and are subject to change after such date. Tornado disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.
Neither the Exchange nor its Regulation Service Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
交易所或其监管服务提供商(交易所政策中定义的该术语)不能接受对本新闻发布的充分性或准确性的责任。