Quarter 1 2026 Financial Results for Hammond Power Solutions
May 7, 2026
Hammond Power Solutions Inc. (“HPS” or the “Company”) (TSX: HPS.A) a leading manufacturer of dry-type transformers, power quality products and related magnetics, announced its financial results for the first quarter 2026 on May 5, 2025.
QUARTERLY HIGHLIGHTS:
- Record quarterly sales of $265 million, a 31.5% increase versus Q1 2025;
- Gross margin improvement from the fourth quarter of 2025, from 29.2% to 30.1%
- Quarterly adjusted EBITDA of $41 million, or 15.5% of sales;
- Quarterly adjusted earnings per share of $2.08, an increase of 29.7% versus Q1 2025;
- Backlog is 94.6% higher than Q1 2025
“HPS delivered a strong first quarter, with record sales driven by continued strength in the U.S. and Mexico, particularly in custom product shipments and data centre-related activity,” said Adrian Thomas, Chief Executive Officer of HPS. “Demand across our core end markets remained healthy, and even with our record shipments, we maintained backlog growth of 4.1% from year-end 2025, giving us continued visibility as we move through the balance of the year. The start-up of our newest factory in Mexico, which began shipping in the first quarter, is also an important step in supporting future growth and expanding our ability to serve customers across our markets.”
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