Wajax Corporation (TSE: WJX) announced sales in the third quarter of 2022 were $470.8 million, a 17.3% increase from the same prior year period. Net earnings were $18 million.
Equipment sales were $136.9 million, Product Support sales were $118.8 million, Industrial Parts were $134.7 million, Engineered Repair Services were $70.1 million, and Equipment Rental was $10.3 million.
“The business continues to perform strongly, with robust heavy equipment sales, particularly in the construction and forestry category. This is due in part to our expanded direct distribution relationship with Hitachi, which took effect on March 1, 2022. To date, we have been exceptionally pleased with the growth enabled by this enhanced relationship with Hitachi, and continue to see even further potential, expecting that the relationship will continue to expand and drive greater equipment sales and product support revenue,” Wajax President and CEO Iggy Domagalski said.