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Hammond Power Solutions (HPS) investor relations material
Hammond Power Solutions Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary24 Oct, 2025
Executive summary
Revenue reached $218 million in Q3 2025, a 14% year-over-year increase, marking the second-best quarter for shipments, driven by strong U.S. market performance and robust data center demand.
Net earnings were $17.44 million, or $1.46 per share; adjusted EPS was $1.56.
U.S. shipments grew across all channels, especially private label and distribution, with custom product sales outpacing stock products.
Significant data center project orders were booked post-quarter, expected to drive future growth.
Backlog increased 28% since the start of the year, with 53% of Q3 closing backlog from large data center orders, most to be shipped from new Mexico facilities over the next 12–18 months.
Financial highlights
Gross margin was 30.1% in Q3 2025, down from 33.8% in Q3 2024, due to higher input costs, tariffs, and unabsorbed overheads in new Mexico factories.
Adjusted EBITDA was $30.29 million, down from $34.38 million in Q3 2024.
Year-to-date sales reached $644.2 million, up 11.1% from 2024.
Working capital requirements increased, mainly due to higher inventories from project delays, safety stock, and tariffs.
General and administrative costs grew more slowly, improving leverage.
Outlook and guidance
Pricing adjustments implemented in late Q3 are expected to improve margins in Q4 as they take full effect.
Increased backlog and ramp-up in Mexico facilities are anticipated to alleviate margin pressures and improve absorption in 2026.
Ongoing strong quotation and order activity, especially for large data center projects, supports a positive outlook.
Data center activity and orders are expected to support growth into 2026, with new facilities in Mexico being reconfigured for increased volume.
Pricing actions and supplier negotiations are expected to offset recent tariff impacts.
Mexico facility readiness for 2026 data center orders?
Quantify tariff impact offset by pricing actions?
Drivers of adjusted EBITDA/EPS decline despite sales?
Quantify Q3 Mexico facility margin drag?
Are data center orders firm commitments?
Can capacity exceed $1.2B by 2027?
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Next Hammond Power Solutions earnings date
Q4 202520 Mar, 2026
Next Hammond Power Solutions earnings date
Q4 202520 Mar, 2026
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Frequently asked questions
Hammond Power Solutions Inc. is a manufacturer of electrical transformers and related magnetics in North America. The company specializes in the design and manufacture of dry-type custom electrical engineered magnetics, electrical dry-type, and cast resin transformers. HPS serves a diverse range of industries, including oil and gas, mining, steel, waste and water treatment, and renewable energy. Its product portfolio caters to the needs of control and automation, medium voltage distribution and power, low voltage distribution, and customized transformers. The company is headquartered in Guelph, Ontario, Canada, and its shares are listed on the Toronto Stock Exchange.
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