Canada · Delayed Price · Currency is CAD Wajax Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw improved margins and cash flow despite a 5.7% revenue decline, with strong product support and ERS growth offsetting lower equipment sales. Backlog and balance sheet strength support a positive outlook, while strategic planning and operational initiatives aim to drive long-term growth.
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Q1 2026 saw a 9.5% revenue decline but improved margins, strong cash flow, and reduced leverage. Mining and energy demand remains solid, while construction and forestry are soft. Focus continues on margin improvement, cost control, and disciplined capital allocation.
Fiscal Year 2025
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Q4 2025 saw higher margins and earnings despite a slight revenue decline, with strong cash flow and improved leverage. Full-year results showed revenue and EPS growth, inventory reduction, and a CEO transition. Mining and energy demand remain strong, while other sectors are mixed.
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Q3 2025 saw modest revenue growth, significant margin improvement, and higher earnings, driven by mining and Central Canada sales. Inventory and leverage improved, while the outlook remains cautious amid macroeconomic softness. CEO succession and a bank facility extension were announced.
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Q2 2025 revenue fell 3.7% year-over-year to CND 547.1 million, with margin compression and lower equipment sales offset by strong mining demand and significant inventory reduction. Cash flow improved, leverage declined, and management remains focused on cost control amid macroeconomic and tariff uncertainties.
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Revenue grew 15.1% year-over-year to CAD 555 million, led by strong equipment sales and cost savings, though gross margins declined. Cash flow and leverage improved, with continued inventory reductions and a stable outlook for mining and construction.
Fiscal Year 2024
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Q4 2024 revenue rose 4.3% year-over-year, led by mining equipment sales, but gross margin fell sharply due to mix and market pressures. Adjusted EBITDA dropped 25.6%, and management is focused on inventory reduction, margin improvement, and cost control amid ongoing market headwinds.
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Sales and margins declined due to lower equipment deliveries and cautious customer spending, but margins remain above pre-pandemic levels. Strategic cost reductions, a shift toward higher-margin segments, and a deepening Hitachi partnership support future growth.
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Q3 2024 revenue declined 5.6% year-over-year due to lower mining and industrial parts sales, with gross margin down 300 basis points. Cost-saving initiatives reduced expenses, while leverage increased above target. Management expects continued mining strength but ongoing market uncertainty.
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Q2 2024 revenue declined 3.1% year-over-year to $568.3 million, but gross margin improved to 20.9%. Adjusted EBITDA fell 4.3%, and adjusted EPS dropped 16.3%. Mining and energy markets remain strong, while industrial and forestry are soft.