08:25 AM EDT, 08/21/2024 (MT Newswires) -- Tornado Global Hydrovacs ( TGHLF ) on Wednesday said second-quarter net income more than doubled as revenue hit a record high.

The company, which operates in the vacuum truck industry, recorded net income of $2.5 million, or $0.018 per diluted share, compared with $1.05 million, or $0.008 per diluted share, last year.

Revenue jumped over 46% to a record $34.4 million, its ninth consecutive quarter of record revenue. The increase was due to higher sales pricing of hydrovac trucks and the number of hydrovac trucks sold, the company said.

Tornado Global expects its production and sales of hydrovac trucks and profitability to continue to grow for the rest of 2024.

"Building on our strong financial performance in the second quarter, we are poised to continue this upward trajectory well into 2025, thanks to robust demand for our products in both the U.S. and Canada," said CEO Brett Newton. "Our sales backlog, extending into next year, underscores the growing market confidence in our offerings."