VANCOUVER - Finning International Inc. (TSX: FTT), the world's largest Caterpillar (NYSE:CAT) dealer, announced it will release its fourth quarter and annual results for 2023 on February 6, 2024, after market close. The company has also scheduled an investor conference call for the following day, February 7.
Based in Surrey, British Columbia, Finning has a storied history of over 90 years, providing a comprehensive range of services and solutions to its customers. The company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland, focusing on the distribution of Caterpillar equipment, parts, and services.
InvestingPro Insights
As Finning International Inc. prepares to share its fourth quarter and annual results for 2023, investors may find additional context through InvestingPro Insights. The company's management has demonstrated confidence through aggressive share buybacks, and Finning has a notable track record of raising its dividend for 22 consecutive years, signaling a commitment to shareholder returns. Notably, the stock is trading at a low P/E ratio of 10.45, which is attractive relative to its near-term earnings growth.
From a financial standpoint, Finning's market capitalization stands at $4.29 billion with a robust revenue growth of 22.64% over the last twelve months as of Q3 2023. The company's gross profit margin in the same period was 24.38%, reflecting operational efficiency. Investors may also find the dividend yield of 2.49% as of year-to-date noteworthy, especially considering the dividend growth of 5.93% over the last twelve months. With the next earnings date on February 6, 2024, these insights could be crucial in evaluating the company's performance and potential investment opportunities.
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