Mississauga, Ontario-based Wajax Corp. reported its 2018 second quarter financial results on Aug. 9, showing solid year-over-year (YoY) and sequential growth both overall and in its industrial parts segment, formerly known as Wajax Industrial Components.
As a whole, Wajax reported Q2 total sales of US $291.2 million, up 17.4 percent YoY and up 11.7 percent from Q1. Wajax's total Q2 profit of $9.3 million surged 58.4 percent YoY and grew 23.2 percent from Q1. The company's Q2 EBIT of $14.2 million jumped 41 percent YoY.
- Wajax's industrial parts segment had Q2 sales of US $71.2 million, up 7.6 percent YoY and up 5.3 percent from Q1. The company attributed the increase primarily to higher bearing sales in all regions.
- Wajax's largest business segment — Equipment Sales — posted Q2 revenue of US $110.0 million, up 31.8 percent YoY and 18.1 percent from Q1. The company attributed the increase primarily to higher power generation, forestry, material handling and construction sales in central and eastern Canada, and higher mining sales in eastern Canada.
- Wajax's Product Support segment had Q2 sales of US $91.5 million, up 11.0 percent YoY and up 12.5 percent from Q1. The company attributed the increase primarily to higher mining sales in all regions, partially offset by lower engines and transmission sales in central and eastern Canada.
