Hammond Power Solutions (OTC) (TSE:HPS.A) has released an update.
Hammond Power Solutions Inc. announced substantial growth in their fourth quarter 2023 financial results, with a record $187 million in sales, marking a 29.6% increase over the previous year, and a significant 41.4% year-to-date net income boost. The company’s strategic capital investments in production capacity are credited for this performance, alongside strong demand in sectors like EV charging and data centers. With a solid 32.5% gross margin for the year, HPS’s financial position remains robust despite increased capital expenditures.
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