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Wajax (WJX) investor relations material
Wajax Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue fell 1.1% to CAD 477.8M; adjusted basic EPS was CAD 0.60 versus CAD 0.75, while backlog climbed 18.2% to CAD 598.6M, near the Q3 2023 record.
Product support and ERS revenue grew 6.3% and 5.3%, respectively; demand and project timing remained variable.
The 2027 Strategy Roadmap targets profitable growth and becoming Canada's fastest-growing provider of industrial products, equipment and services by 2031.
Financial highlights
Revenue was CAD 477.8M, down CAD 5.3M or 1.1% YoY; nine-month revenue was CAD 1,495.5M, down 5.7%.
Gross margin was 20.1%, down 70 bps YoY; adjusted EBITDA was CAD 38.9M, down 13.2%, with an 8.1% margin versus 9.3%.
Adjusted net earnings were CAD 13.1M versus CAD 16.2M; adjusted basic EPS was CAD 0.60 versus CAD 0.75.
Net earnings were CAD 12.0M, or CAD 0.55 per share, versus CAD 16.7M, or CAD 0.77 per share.
EBIT was CAD 20.4M, down 31.0%, including CAD 4.1M of workforce-reduction and related costs; adjusted EBIT was CAD 23.1M, down 19.0%.
Outlook and guidance
Market conditions are expected to remain mixed, with variable demand and project timing; macroeconomic uncertainty may weigh on customer confidence and investment decisions.
2027 priorities include margin, cost and working-capital discipline, higher operating leverage, and targeted investment in people and commercial, digital and operational capabilities.
Two large mining shovels in backlog were scheduled for Q4 2026 delivery; customer decisions and timing remain uncertain for potential orders.
Planned organizational changes and roadmap execution are intended to strengthen competitiveness and profitable growth.
- Adjusted EBITDA rose 12% as ERS growth and backlog supported confidence.WJX
Q4 2023 - Improved margins and cash flow offset lower revenue, with backlog and leverage metrics strengthening.WJX
Q2 2026 - Improved margins and cash flow offset a 9.5% revenue drop, with net earnings up 35.9%.WJX
Q1 2026 - Revenue and earnings growth driven by equipment, parts, and strategic Hitachi partnership.WJX
Investor presentation - Adjusted EPS up 19%, leverage at 1.62x, and backlog boosted by a major naval contract.WJX
Q4 2025 - Q3 2025 delivered higher margins, earnings, and cash flow, led by mining and Central Canada growth.WJX
Q3 2025 - Revenue fell 3.7% but cash flow and leverage improved as mining offset broader softness.WJX
Q2 2025 - Revenue fell 3.1% year-over-year, but gross margin rose to 20.9% and cash flow improved.WJX
Q2 2024 - Revenue up 15.1% on strong equipment sales; margins down, but cash flow and leverage improved.WJX
Q1 2025
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