Quarter 3 2023 Financial Results
Posted: Oct 26,2023
GUELPH, Ontario, October 26, 2023 (GLOBE NEWSWIRE) -- 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 third quarter 2023.
“The third quarter saw continued strong demand across our portfolio of products and services resulting a record quarterly revenue for the Company. Demand was driven by our custom power units that serve renewable and data center applications,” said Adrian Thomas, CEO of Hammond Power Solutions. “We are progressing with our previously announced capital plan and we have recently approved an additional capital expenditure to address expected long-term demand in our core industrial markets. In parallel, continuous improvement programs and greater hiring have progressively ramped up plant productivity and incrementally increased our production rates.”