VANCOUVER, British Columbia , Sept. 26, 2023 (GLOBE NEWSWIRE) — Finning International Inc. (TSX: FTT) (“Finning”, “the Company”, “we”, “our” or “us”) is hosting its Investor Day on September 26, 2023 in Antofagasta, Chile starting at 7:30 AM Eastern Time. To participate in our 2023 Investor Day virtually, please register for the webcast. Following presentations by our leadership team, participants will have an opportunity to ask questions. If you are participating virtually, please use the Q&A function on the webcast portal. The video webcast and the presentation slides will be archived on our website following the live event.
Our product support business is our key value driver and remains by far the largest opportunity for resilient, profitable growth. We are working to capture an even greater share of the product support opportunity across the full asset life cycle through further penetration of customer value agreements, expanding our rebuild business, and continuing to strategically grow our equipment population. On a consolidated basis, we are targeting greater than 7% compounded annual growth of our product support revenue from the last twelve months ended Q2 2023 through 2025.Having a lower and more flexible cost and invested capital base are critical enablers of greater earnings consistency. We have made excellent progress reducing our cost base and are pleased with our SG&A ^{(1)As we reinvest in our business, we will continue to grow product support and place a greater emphasis on capturing attractive opportunities in the used, rental, and power systems segments. Growth in these segments is supported by strong mega trends, and we are optimally positioned in our territories to benefit from these large addressable markets. We are building our capabilities in these areas and see opportunities to deploy capital with attractive returns through 2025 and beyond.Finning is the world’s largest Caterpillar dealer, delivering unrivalled service to customers for 90 years. Headquartered in Surrey, British Columbia, we provide Caterpillar equipment, parts, services, and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland.Ilona Rojkova
Director, Investor Relations
604-837-8241
[email protected]
www.finning.com
(GlobeNewsWire)}