Hammond Power Solutions Reports Fourth Quarter 2023 Financial Results

(Dollar amounts are in thousands unless otherwise specified)
U.S. and Mexico sales were positively impacted by the strengthening of the U.S. dollar relative to the Canadian dollar versus 2022. The U.S. market experienced significant increases in the OEM channel, with higher sales supporting data centres, warehousing, industrial manufacturing, mining, electric vehicle charging, renewable energy and oil and gas production. Sales in the U.S. distributor channel also improved due to strong market activity and resulting growth within our established distributors. The Canadian market experienced increases in commercial construction, EV charging, and data centre projects. A significant part of the growth in India is through both domestic sales and exports to other Southeast Asian countries.(dollars in thousands)Basic
Diluted$
1.68
$
1.53
$
0.15TWELVE MONTHS ENDED:(dollars in thousands)
Basic
Diluted$
5.33
$
3.77
$
1.56Investor Relations
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(GlobeNewsWire)