Core Insights - Tornado Infrastructure Equipment Ltd. has entered into a private label manufacturing agreement with Ascend Hydrovacs Inc. to produce hydrovac units, which is expected to generate significant revenue for the company [1][3]. Group 1: Supply Agreement Details - CustomVac will manufacture 13-yard tipping tank hydrovac units exclusively for Ascend, tailored to meet specific operational requirements [2]. - The Supply Agreement includes a commitment for the delivery of proprietary hydrovac trucks over the next four fiscal years starting in 2026, estimated to generate minimum gross revenue of CAD$88.2 million [3][13]. - Ascend will pay Tornado an intellectual property fee of up to CAD$1.8 million per unit for rights to the co-developed hydrovac product design [3][13]. Group 2: Operational Developments - The partnership enhances CustomVac's position as a leading original equipment manufacturer in private label hydrovac manufacturing [4][13]. - Production will take place at CustomVac's advanced facility in Nisku, Alberta, with initial deliveries expected later this year [4][13]. - Tornado's new manufacturing facility in Red Deer is nearing completion, which is anticipated to improve operational efficiencies and increase capacity starting in Q3 2025 [4][13]. Group 3: Company Background - CustomVac specializes in manufacturing and servicing mobile vacuum equipment for various sectors including oil and gas, utilities, and environmental services [5][6]. - Tornado has sold over 1,800 hydrovacs since 2008 and is recognized as a leader in the vacuum truck industry [7].

Net Income Increased by 17.3% Compared to Q1/2024CALGARY, Alberta, May 27, 2025 (GLOBE NEWSWIRE) -- Tornado Infrastructure Equipment Ltd. (“Tornado” or the “Company”) (TSX-V: TGH; OTCQX: TGHLF) today reported its unaudited condensed consolidated financial results for the three months period ended March 31, 2025. The unaudited condensed consolidated financial statements and related management discussion and analysis are available on the Company’s issuer profile in Canada on SEDAR+ at www.sedarplus.com, in th ...

Company Overview - Tornado Infrastructure Equipment Ltd. is a leading manufacturer of specialized infrastructure and excavation equipment, particularly known for its hydrovac trucks [2] - The company has sold over 1,800 hydrovacs since 2008, establishing itself as a pioneer in the vacuum truck industry [2] - Tornado designs and manufactures hydrovac trucks and provides heavy-duty truck maintenance operations in central Alberta [2] Product and Market Position - Hydrovac trucks utilize high-pressure water and vacuum to safely excavate soil, exposing critical infrastructure for repair and installation without causing damage [2] - The hydrovac excavation method is becoming a standard practice in North America, especially for urban excavations and around critical infrastructure, significantly reducing damage and fatalities [2] Recent Developments - On May 20, 2025, Tornado granted incentive stock options for the purchase of up to 500,000 common shares to a key employee, with an exercise price of $1.71 per share, expiring five years from the grant date [1]

CALGARY, Alberta, May 15, 2025 (GLOBE NEWSWIRE) -- Tornado Infrastructure Equipment Ltd. (“Tornado” or the “Company”) (TSX-V: TGH; OTCQX: TGHLF), a leading manufacturer of specialized infrastructure and excavation equipment, is pleased to announce the closing of the acquisition (the “Acquisition”) of all the issued and outstanding shares in the capital of Custom Vacuum Services Ltd. (“CustomVac”) from 2624795 Alberta Ltd., an arm’s length party (the “Vendor”), pursuant to a share purchase agreement signed a ...

Net Income Per Share (diluted) Increased by 37.7% Compared to 2023CALGARY, Alberta, April 28, 2025 (GLOBE NEWSWIRE) -- Tornado Infrastructure Equipment Ltd. (“Tornado” or the “Company”) (TSX-V: TGH; OTCQX: TGHLF) today reported its audited consolidated financial results for the year ended December 31, 2024, with comparisons to last year. The audited consolidated financial statements and related management discussion and analysis are available on the Company’s issuer profile in Canada on SEDAR+ at www.sedarp ...

Core Insights - Tornado Infrastructure Equipment Ltd. has launched new products and received recognition in the TSX Venture 50™ for 2025, highlighting its strong market position and financial performance [1][3]. New Products Launch - The company introduced the EF4 Tornado Hydrovac and Coring Machine at the WWETT Show in Indianapolis, showcasing its commitment to innovation and excellence in infrastructure equipment [2]. TSX Venture 50™ Recognition - Tornado has been named to the 2025 TSX Venture 50™, which includes ten companies from five industry sectors, based on factors such as market capitalization growth, share price appreciation, and trading volume [3]. Company Overview - Tornado is a leader in the vacuum truck industry, having sold over 1,700 hydrovacs since 2008, and focuses on designing and manufacturing hydrovac trucks for the infrastructure and industrial construction and oil and gas markets [5]. - The hydrovac trucks utilize high-pressure water and vacuum technology to safely excavate soil, minimizing damage to critical infrastructure and reducing related fatalities [5].

Company Leadership Transition - Tornado Infrastructure Equipment Ltd. has promoted Derek Li to Vice President and Chief Financial Officer, effective immediately, replacing Al Robertson who is retiring [1][2] - Derek Li has been with the company for eight years, previously serving as Vice President, Finance and Controller, and has played a significant role in the company's growth [3] Financial Strategy and Stock Options - The company has granted incentive stock options for the purchase of up to 500,000 common shares at an exercise price of $1.16 per share, effective February 24, 2025 [4] Company Overview - Tornado is a leader in the vacuum truck industry, having sold over 1,700 hydrovacs since 2008, and provides hydrovac trucks and heavy-duty truck maintenance operations in central Alberta [5] - The company's hydrovac trucks utilize high-pressure water and vacuum technology to safely excavate soil, minimizing damage to critical infrastructure and reducing fatalities in urban areas [5]

Core Viewpoint - Tornado Infrastructure Equipment Ltd. has launched Tornado Equipment Finance, a financing arm aimed at providing flexible financial solutions for Canadian customers to acquire hydrovac trucks and infrastructure equipment, enhancing customer accessibility and generating additional revenue streams [2][3][11] Group 1: Launch of Tornado Finance - Tornado Finance will offer financing, rental, and leasing solutions exclusively to Canadian customers, facilitating easier access to Tornado's hydrovac trucks [2][3] - The initiative is expected to strengthen long-term customer relationships and solidify Tornado's position as a full-service provider in the infrastructure equipment sector [2][11] Group 2: Q4/2024 Business Update - Tornado reported a record quarter for hydrovac truck sales and production in Q4/2024, manufacturing and selling 88 hydrovac trucks, totaling 320 for the year, compared to 241 in 2023 [3][4] - The strong performance followed a temporary production slowdown in Q3/2024 due to the launch of a new product line and preparations for an expanded manufacturing facility [4] Group 3: Tariff Mitigation Strategies - In response to a delayed 25% tariff on imports from Canada, Tornado is implementing strategies to mitigate its impact, including supplying backend-only units to U.S. customers to reduce tariff exposure [5][6] - The company is exploring opportunities for final assembly in the U.S. and leveraging its existing U.S. entity, Tornado USA, to navigate tariff-related challenges [6][7] Group 4: Company Overview - Tornado is a leader in the vacuum truck industry, having sold over 1,700 hydrovacs since 2008, and specializes in designing and manufacturing hydrovac trucks for the infrastructure and industrial construction markets [8]

Core Viewpoint - Tornado Global Hydrovacs Ltd. is rebranding to Tornado Infrastructure Equipment Ltd. to align with its strategic vision and expansion into the U.S. market [1][2][3] Name Change - The name change will take effect on December 18, 2024, with a new CUSIP of 891082109 and ISIN of CA8910821096 [2] - This change reflects the company's commitment to diversifying its product lines to meet the infrastructure market's needs [3] Share Class Removal - The company has filed Articles of Amendment to remove the "Common Shares" from its authorized capital, as no Common Shares were issued and outstanding at the time of filing [5] U.S. Expansion - Tornado has incorporated two new entities in the U.S.: Tornado Infrastructure Equipment Holdings (USA) Ltd. and Tornado Infrastructure Equipment (USA) Ltd. [6] - Establishing these entities is a critical step in strengthening the company's footprint in the U.S. market [7] Production Capabilities - The company is collaborating with a U.S.-based partner to build its first hydrovac truck in Midland, Texas, with completion expected by the end of 2024 [8] - This initiative aims to enhance local presence and meet the increasing demand for products in the U.S. market [8] Company Background - Tornado is a leader in the vacuum truck industry, having sold over 1,500 hydrovacs since 2005 [10] - The company designs and manufactures hydrovac trucks and provides maintenance operations, focusing on safe excavation methods that reduce infrastructure damage [10]

Financial Performance - Total lease rental income for Q3 2023 was $192.5 million, a slight increase from $192.2 million in Q2 2023 but a decrease from $205.2 million in Q3 2022[7]. - Net income attributable to common shareholders for Q3 2023 was $44.7 million, or $1.07 per diluted common share, down from $51.3 million, or $1.20 per diluted common share in Q2 2023[7]. - Adjusted EBITDA for Q3 2023 was $160.5 million, compared to $163.0 million in Q2 2023[7]. - Total revenues for Q3 2023 were $192,497, a decrease of 6.8% from $205,152 in Q3 2022[21]. - Operating income for Q3 2023 was $92,165, a decline of 25.3% compared to $123,292 in Q3 2022[21]. - Net income attributable to common shareholders for the nine months ended September 30, 2023, was $149,635, down 34.3% from $227,695 in the same period of 2022[21]. - Basic net income per share for Q3 2023 was $1.09, down from $1.66 in Q3 2022, a decrease of 34.3%[21]. - Adjusted net income for Q3 2023 was $45,410,000, compared to $51,332,000 in Q2 2023 and $76,562,000 in the same period last year[31]. - Headline earnings for Q3 2023 were $44,260,000, compared to $51,332,000 in Q2 2023 and $77,259,000 in Q3 2022[32]. - Headline earnings per diluted common share for Q3 2023 was $1.06, down from $1.20 in Q2 2023 and $1.65 in Q3 2022[32]. Asset and Liability Management - Total current assets decreased to $495,339 as of September 30, 2023, from $521,545 at the end of 2022, representing a decline of 5.0%[23]. - Total liabilities decreased to $5,285,760 as of September 30, 2023, from $5,616,945 at the end of 2022, a reduction of 5.9%[23]. - Cash and cash equivalents at the end of Q3 2023 were $140,999, down from $164,818 at the end of 2022, a decrease of 14.5%[23]. - Total shareholders' equity increased to $2,020,731 as of September 30, 2023, from $1,996,289 at the end of 2022, an increase of 1.2%[23]. Operational Metrics - Average fleet utilization rate for Q3 2023 was 99.0%, slightly up from 98.8% in Q2 2023[7]. - The total fleet size at the end of Q3 2023 was 4,329,157 TEU, a decrease from 4,334,809 TEU in Q2 2023[7]. - The owned percentage of the total fleet at the end of Q3 2023 was 93.9%, up from 93.8% in Q2 2023[7]. - Textainer added $162.4 million of new containers through the first nine months of 2023, with virtually all assigned to long-term leases[7]. - The company reported a trading container margin of $306 for Q3 2023, down from $457 in Q3 2022, a decline of 33.0%[21]. Dividend and Shareholder Actions - The board declared a quarterly cash dividend of $0.30 per common share, payable on December 15, 2023[7]. - Textainer has suspended its share repurchase program in light of the pending acquisition transaction[7]. Acquisition and Corporate Actions - Textainer announced a definitive agreement to be acquired by Stonepeak for $50.00 per share in cash, expected to close in Q1 2024[10][11]. Other Financial Considerations - Total interest expense for Q3 2023 was $43,751,000, an increase from $42,138,000 in Q2 2023[31]. - The company reported a container recovery write-off from lessee default of $1,160,000 in Q3 2023[32]. - Transaction and other costs amounted to $733,000 in Q3 2023, consistent with the previous quarter[31]. - The company experienced an unrealized loss on marketable securities of $204,000 in Q3 2023[31]. - The report indicates that non-GAAP measures have limitations and should not be relied upon in isolation from GAAP measures[30].