Hammond Power Solutions – November 2021

Our investment thesis for Hammond Power Solutions (TSX: HPS.A) is that the company’s product leadership and distribution expansion strategy position it for +2x industry growth in the near term, with medium term upside to clean-energy grid investment. While we expected 2Q21 results to show margin compression from significant commodity cost pressure, the result was a beat on both revenue and margin with a big lift in order backlog.

Download Report