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Wajax
Wajax (WJX) investor relations material
Wajax Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary2 Nov, 2025
Executive summary
Revenue for Q3 2025 was $483.1 million, up 0.4% year-over-year, with adjusted basic EPS rising to $0.75 from $0.44.
Gross profit margin improved to 20.8%, up 160 bps year-over-year and 170 bps sequentially.
Net earnings increased to $16.7 million from $6.4 million year-over-year; adjusted net earnings were $16.2 million.
Cash flow from operations was $18.5 million, reversing a cash use of $36.6 million in Q3 2024.
Leverage ratio improved to 2.28x from 2.35x in Q2 2025 and 2.61x at year-end 2024.
Financial highlights
Adjusted EBIT rose 32.3% to $28.6 million; adjusted EBITDA increased 19.7% to $44.8 million year-over-year.
Adjusted EBIT margin was 5.9% (up from 4.5%); adjusted EBITDA margin was 9.3% (up from 7.8%).
Selling and administrative expenses as a percentage of revenue remained flat at 14.7%.
Inventory at quarter-end was $605.7 million, slightly up sequentially but down $144.4 million from its March 2024 peak.
Dividend of $0.35 per share declared for Q4 2025.
Outlook and guidance
Strong customer demand expected in mining and energy sectors, supported by robust equipment backlog.
Macroeconomic softness and Canada-U.S. tariff uncertainty continue to challenge the broader market.
CEO succession process initiated, with transition expected to complete in Q1 2026.
Management remains focused on inventory optimization, cost management, and margin improvement.
How to reach target leverage ratio of 1.5-2.0x?
Backlog decline impact on future revenue?
CEO succession process impact on strategy?
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Next Wajax earnings date
Q4 20253 Mar, 2026
Wajax
Next Wajax earnings date
Q4 20253 Mar, 2026
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Frequently asked questions
Wajax Corporation distributes industrial components and equipment including power systems, material handling products, and heavy machinery. The company serves sectors such as construction, mining, forestry, and oil and gas across Canada. It also provides maintenance and repair services. The company is headquartered in Mississauga, Canada, and its shares are listed on the TSX.
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