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TOROMONT Toromont Announces Results for the Second Quarter of 2021 and Quarterly TORONTO , July 28 , 2021 ( GLOBE NEWSWIRE ) second quarter ended June 30 , 2021 . Dividend Toromont Industries Ltd. ( TSX : TIH ) reported its financial results for the millions , except per share amounts 2021 Three months ended June 30 2020 % change 2021 Six months ended 2020 June 30 % change Revenues $ 1,127.1 $ 849.6 33 % $ 1,933.3 $ 1,565.1 24 % Operating income $ 122.5 $ 77.1 59 % $ 192.7 $ 132.4 46 % Net earnings $ 85.4 $ 51.2 67 % $ 133.4 $ 88.6 51 % Basic earnings per share ( " EPS " ) $ 1.03 $ 0.62 66 % $ 1.62 $ 1.08 50 % " We are pleased with the overall activity levels in our end markets and are proud of our team's dedication and ability to adjust to ongoing changes in the environment and customer requirements " , stated Scott J. Medhurst , President and Chief Executive Officer of Toromont Industries Ltd. “ The second quarter of 2020 was hardest hit by the pandemic response and restrictions , resulting in the increases reported in 2021 against this comparable . The Equipment Group reported strong prime product deliveries and excellent order bookings , reflecting robust activity levels . Rental and product support activity increased as equipment usage improved . CIMCO revenues increased on project execution , while product support activity continued to be dampened by COVID - 19 restrictions , particularly within the recreational segment where facilities remained closed or usage limited . " Highlights : Consolidated results • Revenues increased 33 % in the quarter versus the same period last year on higher sales in both the Equipment Group and CIMCO . This reflected improved activity levels in most markets and across all regions , as well as good execution from our teams . Product support revenues were 14 % higher and rental revenues were up 27 % compared to the similar quarter last year reflecting the initial impact of COVID - 19 in the second quarter of 2020 . • Revenues increased 24 % to $ 1.9 billion year - to - date , as the improved activity in end markets continued . Strong deliveries from order backlogs and on improving demand drove equipment and packages revenues f 44 % higher , while product support and rental revenues increased 7 % . Operating income ( 1 ) increased 59 % in the quarter and 46 % year - to - date on the higher revenues . Operating income was 10.0 % of revenues for the first half of 2021 compared to 8.5 % in the similar period last year , improving on the higher activity levels . • Backlogs ( 1 ) were $ 957.8 million at June 30 , 2021 , compared to $ 496.5 million at June 30 , 2020 , reflecting strong bookings ( 1 ) in the Equipment Group over the last three quarters and timing of order delivery . • Net earnings increased $ 34.2 million or 67 % in the quarter versus a year ago to $ 85.4 million and EPS ( basic ) was up 66 % to $ 1.03 per share . • For the first half of the year , net earnings increased $ 44.8 million or 51 % and EPS ( basic ) was up 50 % to $ 1.62 per share . Equipment Group • Revenues increased $ 239.8 million or 31 % to $ 1.0 billion for the quarter on strong equipment sales combined with higher product support and rental activity in most markets and across all regions . • Revenues were up $ 309.4 million or 22 % to $ 1.7 billion year - to - date with similar trends as the quarter . • Operating income was up $ 44.0 million or 61 % to $ 116.4 million reflecting higher revenues coupled with a lower expense ratio to revenues . Operating income was up $ 58.7 million or 46 % to $ 186.3 million year - to - date , on the same reasons as noted for the quarter . Operating income margin increased 180 bps to 10.7 % .