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Hammond Power Solutions Inc T.HPS.A

Alternate Symbol(s):  HMDPF

Industrials
Hammond Power Solutions Inc. is a manufacturer of dry-type transformers in North America. It is engaged in engineering and manufacturing a range of standard and custom transformers that are exported in electrical equipment and systems. It enables electrification through its range of dry-type transformers, power quality products and related magnetics. Its standard and custom-designed products are essential and ubiquitous in electrical distribution networks through a range of end-user applications. Its products include power transformers, furnace transformers, converter transformers, unitized substations, control & automation products, low voltage distribution products, medium voltage distribution products and others. It supports solid industries, such as oil and gas, mining, steel, waste and water treatment, commercial construction, data centers and wind power generation. It has manufacturing plants in Canada, the United States, Mexico and India and sells its products around the globe.


TSX:HPS.A - Post by User

Hammond Power Solutions Inc
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Post by retiredcfon Aug 07, 2023 10:10am
179 Views
Post# 35576064

Reaction to Brief SP Decline

Reaction to Brief SP Decline

For the second quarter of 2023, HPS.A reported record sales of $172 million, up 25.4% year-over-year. Net income of $13.3 million rose 105% compared to the same quarter of 2022. Earnings per share came in at $1.12 and order backlog increased 44.1%. We think this was a solid quarter with solid sales and improvement in margins. Cash generated by operating activities decreased slightly. Given the jump in sales volume, management expects increased working capital needs for 2023 and higher capex in the second half of the year. The stock has had an extremely strong rally over the past year and we think the drop today comes mostly from some profit-taking, with some concern on higher working capital needs. At the time of the answer, the decline is down to just 1% of the opening price, and it is a pretty ugly market day overall. We would not change our positive viewpoint here. (5iResearch)


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