Hammond Power Solutions Quarter 2 2025 Financial Results
August 12, 2025
Hammond Power Solutions Inc. (“HPS”), a leading manufacturer of dry-type transformers, power quality products and related magnetics, has recently announced its financial results for the second quarter 2025.
HIGHLIGHTS
- Record sales of $224 million in the quarter, a 13.8% increase vs quarter 2, 2024.
- Adjusted EBITDA of $33 million in the quarter, or 14.9% of sales.
- Gross margin was $68 million or 30.7% of sales.
- Net earnings of $13.4 million in the quarter, significantly impacted by share-based compensation.
- Adjusted earnings per share of $1.72. Earnings per share of $1.12.
- Due to record sales, backlog is lower by 8% vs the first quarter of 2025 but remains 9% higher vs the end of 2024.
They are pleased to share that HPS delivered another strong quarter in Q2 2025, achieving record sales and solid profits despite navigating some cost headwinds. Their quarterly revenue reached approximately $224 million, marking a new record quarter with 14% growth compared to Q2 2024. Their gross margin was slightly lower than the previous year due to rising input costs and further investments in their manufacturing footprint.”, said Adrian Thomas, CEO of Hammond Power Solutions.
“Our new production facility in Mexico is complete and we will start shipments later this year. We are also proud to announce that we were awarded Great Place to Work for all of our facilities globally. This honour means a lot to us and reaffirms our belief that our employees are at the core of our success.”
Year-to-date, the U.S. market experienced its strongest growth in the private label channel and steady growth in the distribution channel. Hammond Power Solutions continued to grow both the number of new customers, as well as sales within existing customers. The Original Equipment Manufacturer (“OEM”) channel and private labels channels have increased in the quarter versus prior year, with relatively more business shifting to private label. The two channels have also increased on a year-to- date basis with strong sales to switchgear manufacturers, motor control, mining, and data centres.
The Canadian market continued to grow through the distribution channel in both stock and flow product and large projects in commercial construction, electric vehicle (“EV”) charging, data centres, public infrastructure, oil and gas, mining, utilities and motor control.
More Information
Read the full press release here
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Hammond Power Solutions Earns 2025 Great Place to Work Certification™
Hammond Power Solutions (HPS) is proud to be Certified™ by Great Place to Work® for the second consecutive year. The prestigious award is based entirely on what current employees say about their experience working at HPS across all Canada, USA, Mexico and India locations.
