Hammond is the largest NA manufacturer of dry transformers. High speed electric car chargers require tansformers. Hammond is in that market supplying Tesla. If the US plans to invest $7.5 billion to electrify their highways, they will need a lot of Hammond transformers.
However, as the attachment below points out, there is already a shortage of transformers and transformer costs have tripled, with procurement times now stretching out over 12-months.
The transformer shortage is fueling Hammond's revenues, earnings and share price. If demand for transformers continues to increase,
the share price has a long way to go. Utilities sound alarm over distribution transformer shortage as procurement times surpass 1 year and costs triple | Utility Dive
https://www.utilitydive.com/news/distribution-transformer-shortage-appa-casten/639059/