0735 ET - Finning International's Canada business may be able to get away without major bruises from tariffs, according to Cherilyn Radbourne of TD Cowen in a report. She says the Caterpillar dealer's Canadian segment is about 50% of the company's revenue, and a weaker Canadian dollar should boost the translation of earnings from its South America, U.K. and Ireland markets. Radbourne notes that heavy equipment was excluded from the first round of retaliatory tariffs drawn up by Canada, but Finning/Caterpillar are contingency planning for an inclusion scenario. The analyst says that Finning views a 10% tariff as likely manageable for the Canadian energy sector, but a 25% would be more problematic. Finning is the largest Caterpillar dealer in the world, according to TD Cowen. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 07:36 ET (12:36 GMT)
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