Hammond Power Solutions Reports Record Third Quarter 2026 Financial Results

Adrian Thomas, CEO of Hammond Power Solutions

“We delivered an outstanding quarter across every key financial measure, with record revenue, strong margin expansion and exceptional cash generation. These results reflect robust customer demand and disciplined execution by our teams across the business. While the integration of AEG is still in its early stages, we are increasingly excited by the opportunities ahead. We remain focused on realizing its full potential while continuing to drive disciplined, profitable growth.”

Richard Vollering, CFO of Hammond Power Solutions

“Our third-quarter was strong in many key aspects. Sales of $446.3 million were up 104% from last year, adjusted EBITDA nearly tripled to $84.0 million, and adjusted earnings per share doubled to $3.13. Gross margin reached 34.4%, up from 30.1% a year ago, as pricing actions, higher factory output, more custom products and better efficiency helped us offset tariffs and rising copper and aluminum costs. Reported earnings of $2.33 per share include one-time costs tied to the AEG acquisition, foreign exchange losses on acquisition hedges and higher interest on acquisition debt, while adjusted earnings, at $3.13, give a clearer picture of how well the underlying business performed. Cash conversion was high in the quarter, with cash generated from operations at $76.0 million in the quarter, compared with a small outflow a year ago, and we ended the quarter with a net operating cash position of $51.6 million, an improvement of more than $88 million since the end of June. As we move into the fourth quarter, our focus will be on maintaining tight operating discipline, continuing to generate cash, complete a successful integration of AEG and invest in the growth ahead”