Industrial equipment supplier Toromont’s earnings actually GREW this past quarter. Earnings were up 25% for the months of October, November and December 2008 – right on through the huge meltdown. How is that possible? It seems like this helps build the case for an infrastructure-led turnaround, even though Boeing just laid off a bunch of people.
Toromont’s earnings were up a whopping 25%. Toromont is a leading supplier of parts to Caterpillar; one of the stocks expected to help lead an infrastructure-based market turnaround. You can read more about Toromont’s earnings release here. What’s even more surprising, perhaps, is that the growth was led by its natural gas business in the U.S. So what’s going on here? At least this is an investment you might want to look at closer.
And remember the tip that I learned a while back: earnings trail the market, but the market is also the first to recover before the economy as a whole does. Which of these baskets do you think is the more likely for Toromont to fall into here?
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