Tornado management announced this morning, (August 17, 2023), that the company achieved its highest ever quarterly sales, gross profit, EBITDAS and net income in its history.

Revenue grew 76% over Q2/22 to $23.5 million while noting pricing increases , the positive impact of its supply agreement with TORO owned Ditch Witch and the increased demand for hydrovac trucks across North America.

Compared to Q2/22, gross profit increased more than $1.1 million to $2.96 million and net income increased $484,000 to over $1 million in Q2/23.

Tornado management stated it believes business will continue to strengthen and continue its growth trajectory with its increased production capacity at its Red Deer facility.

Today’s news release can be viewed HERE.