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Third Quarter 2021 TOROMONT November 4 , 2021 TOROMONT ANNOUNCES RESULTS FOR THE THIRD QUARTER OF 2021 AND QUARTERLY DIVIDEND Toronto , Ontario ( TSX : TIH ) reported its financial results for the third quarter ended September 30 , 2021 . Three months ended September 30 millions , except per share amounts 2021 2020 % change Revenues $ Operating income Net earnings Basic earnings per share ( " EPS " ) $ 997.2 $ 921.7 134.4 $ 112.9 93.8 $ 77.4 1.13 $ 0.94 8 % 19 % 21 % $ 20 % $ $ $ Nine months ended September 30 2021 2020 % change 2,930.5 $ 2,486.7 327.2 $ 227.1 $ 166.0 2.75 $ 2.02 18 % 245.3 33 % 37 % 36 % We are pleased with our operating performance , financial results , cash generation and financial position through a challenging business environment . Overall end market activity levels remained solid with the easing of pandemic restrictions and shutdowns . Nonetheless , we continue to operate in a very fluid , complex and uncertain operating environment . The Equipment Group reported strong prime product deliveries and excellent order bookings . Rental activity and fleet utilization improved with more favourable markets . Tight supply of equipment from manufacturers coupled with stronger sales activity versus last year have resulted in lower equipment inventories . CIMCO revenues decreased in the quarter on timing of project construction schedules , while product support activity improved . Across the organization , we are continuing to leverage the learnings from the past year with respect to cost structures and new ways to do business . Highlights : Consolidated results 1 • • • Revenues increased 8 % in the quarter reflecting solid activity levels in most markets , as well as good execution from our teams . Product support revenues were 4 % higher and rental revenues were up 6 % compared to the third quarter last year . Revenues increased 18 % to $ 2.9 billion year - to - date on improved activity in end markets compared to 2020 hit by pandemic restrictions and shutdowns . Deliveries from healthy order backlogs and on strong demand generally , drove equipment and packages revenues 32 % higher , while product support and rental revenues increased 6 % and 7 % respectively . Operating income increased 19 % in the quarter and 33 % year - to - date on the higher revenues . Operating income was 11.2 % of revenues for the nine months ended September 30 , 2021 compared to 9.9 % in the similar period last year , improving on the higher activity levels , coupled with better margins and expense control .