QUARTER 1 2025 FINANCIAL RESULTS
Posted: May 1,2025
Investor Relations
GUELPH, Ontario, May 1, 2025 (GLOBENEWSWIRE) -- Hammond Power Solutions Inc. (“HPS”) (TSX: HPS.A) a leading manufacturer of dry-type transformers, power quality products and related magnetics, today announced its financial results for the first quarter 2025.
HIGHLIGHTS
• Sales of $201 million in the quarter, a 5.6% increase versus Quarter 1, 2024.
• Adjusted EBITDA of $30,916 in the quarter, or 15.4% of sales.
• Gross margin was $63.5 million or 31.5% of sales in Quarter 1, 2025, versus $60.5 million or 31.7% in Quarter 1, 2024.
• Net earnings of $26.2 million in the quarter, significantly impacted by share-based compensation.
• Earnings per share of $2.20. Adjusted earnings per share of $1.60.
• Backlog at the end of the quarter increased by 17.7% versus December 31, 2024.
“We are pleased to report that same‑quarter sales grew 5.6% to $201 million, underscoring the resilience of our business in a period marked by trade‑tariff uncertainty,” said Adrian Thomas, CEO of Hammond Power Solutions. “While we experienced lower custom shipments this quarter, we continue to see strong demand in certain markets and we finished with a 17.7% increase in backlog over Q4 2024. When combined with our new factory coming online faster than planned, we can anticipate a favorable shift towards more custom product shipments in the latter half of the year.”
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HIGHLIGHTS
• Sales of $201 million in the quarter, a 5.6% increase versus Quarter 1, 2024.
• Adjusted EBITDA of $30,916 in the quarter, or 15.4% of sales.
• Gross margin was $63.5 million or 31.5% of sales in Quarter 1, 2025, versus $60.5 million or 31.7% in Quarter 1, 2024.
• Net earnings of $26.2 million in the quarter, significantly impacted by share-based compensation.
• Earnings per share of $2.20. Adjusted earnings per share of $1.60.
• Backlog at the end of the quarter increased by 17.7% versus December 31, 2024.
“We are pleased to report that same‑quarter sales grew 5.6% to $201 million, underscoring the resilience of our business in a period marked by trade‑tariff uncertainty,” said Adrian Thomas, CEO of Hammond Power Solutions. “While we experienced lower custom shipments this quarter, we continue to see strong demand in certain markets and we finished with a 17.7% increase in backlog over Q4 2024. When combined with our new factory coming online faster than planned, we can anticipate a favorable shift towards more custom product shipments in the latter half of the year.”
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