Toronto-based Wajax Corporation (TSX: WJX) reported its 2024 second-quarter sales were $568.3 million (Canadian), down 3.1% from the same quarter of the prior year.
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Profit was $20.6 million for the quarter.
Year to date, sales were $1.05 billion, down 4.7%. Year-to-date profit was $35.4 million, down by 24%.
A decrease in equipment sales by 5.2% versus the prior-year period was primarily the result of the delivery of a large mining shovel in the second quarter of 2023, which did not recur this year, according to a news release.
During the second quarter, the organization rolled out a new ERP system to 57 industrial parts and ERS branch locations. Wajax has 99 branch locations operating the new platform.
