Tornado Infrastructure Equipment reports record sales and profits for 2024, anticipating continued growth in 2025.

From GlobeNewswire: 2025-04-28 07:30:00

Tornado Infrastructure Equipment Ltd. reported record sales, gross profit, EBITDAS, and net income for 2024, with revenue reaching $136,891, a 30.4% increase from 2023. The company sold 320 hydrovac trucks in 2024, up from 241 in 2023, contributing to the increase in net income and EBITDAS.

President Brett Newton expressed confidence in Tornado’s growth prospects for 2025, citing market demand and strong team execution. The company is prepared for potential changes in U.S.-Canada tariffs and plans to expand production capacity at the Red Deer Facility. Tornado aims to introduce new products and enhance dealer relationships to meet demand.

In the fourth quarter of 2024, Tornado’s revenue reached $38,113, with a gross profit of $8,408. Net income for the quarter was $3,374, contributing to a full-year net income of $10,302. EBITDAS per share (diluted) was $0.111 in 2024, up from $0.09 in 2023, reflecting the company’s financial growth.

Tornado anticipates continued growth in 2025, driven by infrastructure spending in North America and the addition of new products. The completion of a new production building at the Red Deer Facility is expected to increase production capacity and efficiency. The company aims to enhance its hydrovac truck design and secure key manufacturing components for future growth.



Read more at GlobeNewswire:: Tornado Infrastructure Equipment Reports Record 2024