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Highlights

  • Hammond Power Solutions secured record revenue of CAD 179.5 million in Q3 2023.
  • A.TO’s cash from operations stood at CAD 22.1 million in the reporting period, versus CAD 16.5 million in pcp.
  • Its earnings before income tax was recorded at CAD 20.9 million, against CAD 15.8 million in pcp.

Hammond Power Solutions Inc. (TSX: HPS.A.TO) focuses on designing and production of custom electrical magnetics, custom liquid filled distribution and power transformers, for the electrical and electronic industries. Its manufacturing plants are running across the US, Canada, Mexico, and India.

For Q3 2023, the company secured record revenue of CAD 179.5 million, thanks to the strong demand for its portfolio of products and services. It marked 20.6% year-on-year growth from the previous corresponding period. Its bottom-line witnessed a growth of 25.2% to CAD 14.4 million, against CAD 11.5 million in pcp. Its EBITDA margin saw 13% increase in the quarter. HPS.A.TO’s cash from operations stood at CAD 22.1 million in the reporting period, versus CAD 16.5 million in pcp.

Hammond Power Solutions’ backlog for Q3 jumped by 40.3% on pcp. It has grown by 11.3% from the second quarter of 2023. Its earnings before income tax was recorded at CAD 20.9 million, against CAD 15.8 million in pcp..

Top 10 Shareholders

Approximately 27.40% of the total shareholding is held by its top ten shareholders. While Arathorn Investments, Inc. hold a maximum stake in the company at around ­­­8.77%, Fidelity Management & Research Company LLC owns 5.92% shares in the firm.

Stock Price Performance

The stock price has gained 17.77% over the last one week. It has increased by over 35.93% in the last one month. The stock’s 52-week high and low price stand at CAD 77.63 and CAD 18.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is November 15, 2023. The reference data in this report has been partly sourced from EODHD/Others.