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Finning International 4Q Profit Falls on Impact From Argentina Business

By Ben Glickman


Finning International's fourth-quarter profit fell as the company saw a steep impact from foreign currency impact in Argentina.

The Canadian dealer for Caterpillar products on Tuesday posted a profit of 85 million Canadian dollars ($63 million), or 59 Canadian cents a share, in the quarter ended Dec. 31, compared with C$136 million, or C$0.89 a share, a year earlier.

Stripping out certain one-time items, such as foreign currency effects, the company posted a profit of C$0.96 a share. Analysts polled by FactSet expected adjusted per-share earnings of C$0.97.

Revenue was roughly flat compared to a year earlier at C$2.66 billion.

Finning said its per-share earnings included a C$0.37 charge related to foreign exchange loss in Argentina.

The company's results in Canada were also affected by delayed starts to many winter programs and the completion of multiple major projects.


Write to Ben Glickman at


(END) Dow Jones Newswires

February 06, 2024 18:12 ET (23:12 GMT)

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