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An financial slowdown south of the border is now not a forecast, it’s a truth. U.S. GDP development got here in at simply 1.4% annualized within the fourth quarter, unemployment was 4.4% in February, and commerce coverage uncertainty remains to be unresolved. For Canadian buyers, which means the query has shifted from “what if the U.S. slows” to “which of my holdings can hold incomes whereas it does.”

U.S. demand influences every part from manufacturing facility output to freight volumes to power costs, and the TSX contains loads of Canadian shares that depend upon that engine. That’s why it helps to personal just a few companies that may hold incomes whilst development cools.

TIH

Toromont Industries (TSX:TIH) appears to be like constructed for a softer U.S. backdrop because it makes cash from holding gear operating, not simply from promoting shiny new machines. It sells and companies heavy gear by its Gear Group, and it owns CIMCO, which builds industrial refrigeration methods for meals and cold-chain infrastructure. Over the past yr, it benefited from regular product help demand and powerful order exercise, even whereas administration talked overtly about “macroeconomic and commerce uncertainty.”

The newest outcomes confirmed that it will possibly keep regular even and not using a booming financial system. In This autumn 2025, income rose 9% to $1.42 billion, and internet earnings edged as much as $157.2 million, or $1.93 per share. For full-year 2025, income rose 4% to $5.2028 billion, with internet earnings of $496.6 million and earnings per share (EPS) of $6.11. It additionally elevated its quarterly dividend to $0.56 per share. Valuation stays premium, with a trailing price-to-earnings (P/E) round 33.6 and a ahead P/E round 23.1, so the chance is that any slowdown compresses the a number of even when the enterprise retains performing.

BIR

Birchcliff Power (TSX:BIR) can maintain up in a U.S. slowdown because it runs a low-cost Montney fuel enterprise with significant publicity to higher-priced markets. It leaned into market diversification, promoting into Daybreak and NYMEX-linked pricing slightly than dwelling and dying by AECO. Over the past yr, that positioning mattered as fuel pricing swung round, and Birchcliff centered on doing the fundamentals properly: develop manufacturing, scale back debt, and hold a base dividend that doesn’t power dangerous selections.

In 2025, it generated adjusted funds circulate of $422.8 million in 2025, up sharply from 2024, and free funds circulate of $116.9 million. It lowered whole debt to $459.9 million and improved its whole debt to adjusted funds circulate ratio to 1.1 occasions at year-end 2025. That sort of balance-sheet progress can matter greater than a sizzling commodity tape if the U.S. slows and threat urge for food fades. The valuation nonetheless bakes in some warning, with a trailing P/E round 24.4, and the principle threat stays apparent: a weak fuel market can nonetheless bully any producer, even a disciplined one.

GIL

Gildan Activewear (TSX:GIL) won’t sound defensive at first, however fundamentals will be surprisingly sturdy in a slower financial system. Individuals might delay massive purchases, however they nonetheless purchase on a regular basis attire, and corporations nonetheless order printwear for uniforms, occasions, and workwear. Over the past yr, Gildan additionally reshaped its story with the HanesBrands acquisition, which added scale and types.

The most recent quarter put actual numbers behind that momentum. In This autumn 2025, it reported internet gross sales of about US$1.08 billion, up 31.3% yr over yr, and adjusted diluted EPS of $0.96. Money circulate from operations got here in at $336 million, and free money circulate reached $304 million for the quarter, with full-year free money circulate of $493 million. It additionally introduced a ten% dividend improve for 2026 and talked about focusing on significant value financial savings from the deal.

Backside line

You don’t want to cover underneath the sofa when the U.S. slows, however you do need to personal corporations that may hold producing actual outcomes. Not one of the shares I talked about are risk-free, however every has a sensible motive it will possibly hold standing, even when the U.S. financial system takes a breather. That’s the sort of considering that comes up on a regular basis in Inventory Advisor Canada: Spend money on shares with a motive to carry up, not only a hope. If that message resonates with you, it’s value trying out.