Wajax Corporation (NYSE: WJX.TO), Toronto, Ontario, industrial supplies distributor reported its 2023 fourth-quarter sales were Canadian $542.6 million, up 0.2% over the year-ago period.
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Fourth-quarter profit was $11.1 million.
Full-year sales were $2.2 billion, up 9.8%. Profit was $81 million. Growth was supported by its expanded relationship with Hitachi and growth in industrial parts and engineered repair services.
In the fourth quarter, revenue in western Canada fell 15.5% due to the timing of mining equipment sales, as well as lower equipment sales in the construction and forestry category, offset partially by strong ERS sales.
Revenue in central Canada increased 21.3% in the fourth quarter from the prior year mainly due to strong ERS sales, higher equipment sales in the construction and forestry category, and higher product support revenue across all categories.
Revenue in eastern Canada increased 14.8% in the fourth quarter due to higher equipment and product support sales in the construction and forestry category, and strong industrial parts and ERS sales.
