TerraVest Industries (TVK) investor relations material

Executive summary

• Sales for Q3 and nine months ended June 30, 2026 increased by 14% and 38% year-over-year, driven by acquisitions and strong demand in certain segments.

• Net income for Q3 and nine months rose 168% and 8% year-over-year, with Q3 benefiting from acquisitions, FX gains, and a bargain purchase gain.

• Adjusted EBITDA grew 28% in Q3 and 26% for the nine months, reflecting acquisition contributions and operational improvements.

• Cash flow from operating activities increased 11% in Q3 and 88% for the nine months, supporting higher cash available for distribution.

Financial highlights

• Q3 sales: $460.9M (up 14%); nine months: $1,311.8M (up 38%).

• Q3 net income: $35.6M (up 168%); nine months: $83.6M (up 8%).

• Q3 Adjusted EBITDA: $87.0M (up 28%); nine months: $230.3M (up 26%).

• Q3 gross profit: $118.6M (up 12%); nine months: $330.8M (up 24%).

• Q3 cash available for distribution: $45.2M (up 31%); nine months: $108.1M (up 19%).

Outlook and guidance

• Demand for industrial steel tanks remains strong, especially from data center projects, while US tank trailer demand is soft.

• Recent acquisitions are expected to continue contributing meaningfully.

• Management focuses on synergy realization and targeted investments to expand product lines and efficiency.

• Tariff uncertainty persists, but a diverse manufacturing footprint helps mitigate impacts.