Robust Cash Flow and Improved Leverage Driven by Inventory Optimization and Strong Cost Discipline

TSX Symbol:  WJX

TORONTO, August 7, 2025 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced its 2025 second quarter results. All monetary amounts are in Canadian dollars unless otherwise noted.

Selected Highlights for the Second Quarter

Revenue of $547.1 million, and adjusted basic earnings per share of $0.77, down from $568.3 million and $1.06, respectively, in the same quarter of the prior year, due primarily to increased market pressures;(1)Gross profit margin of 19.1% decreased from 20.9% in the same period of 2024, remained flat versus the first quarter of 2025 and increased by 200 basis points from 17.1% in the fourth quarter of 2024;(1)Selling and administrative expenses as a percentage of revenue improved to 13.8% from 13.9% in the same period of 2024, excluding the unrealized loss/gain on total return swaps in both periods;(1)Inventory of $602.5 million decreased by $56.0 million over the prior quarter and by $147.5 million from peak levels at March 31, 2024;Cash flow generated from operations of $67.4 million compared to cash generated of $35.8 million in the second quarter of 2024; andLeverage ratio improved to 2.35 times compared to 2.53 times at March 31, 2025.(1)

TSX Symbol:  WJX

TORONTO, June 2, 2025  /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced the appointment of Michael Hachey as Chief Operating Officer of the Corporation effective June 2, 2025. Reporting to Iggy Domagalski, President and Chief Executive Officer, Mr. Hachey will oversee the Corporation's operations, with a focus on operational excellence and building organizational capabilities.

TSX Symbol: WJX 

TORONTO, Ontario, May 8, 2025 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced that the nominees listed in its Management Information Circular dated March 4, 2025 have been elected as directors of Wajax. The detailed results of the vote for the election of directors held at the Annual Meeting of Shareholders of the Corporation held on May 6, 2025 in Toronto, Ontario are set out below.

Improved Cash Flow, Adjusted EPS and Leverage due to Focus on Inventory, Costs and Margin Improvement

TSX Symbol:  WJX

TORONTO, May 5, 2025 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced its 2025 first quarter results. All monetary amounts are in Canadian dollars unless otherwise noted.

Selected Highlights for the First Quarter

Revenue of $555.0 million and adjusted basic earnings per share of $0.69, up from $482.3 million and $0.59, respectively, in the same quarter of the prior year;(1)Gross profit margin decreased to 19.1% from 22.0% in the same period of 2024, and increased sequentially from 17.1% in the fourth quarter of 2024;(1)Selling and administrative expenses as a percentage of revenue decreased to 14.1% from 16.7% in the same period of 2024, excluding the unrealized loss/gain on total return swaps in both periods;(1)Inventory of $658.1 million, which included one additional large mining shovel compared to December 31, 2024, decreased by $15.2 million over the prior quarter and by $91.5 million from peak levels at March 31, 2024;Cash flow generated from operations of $31.4 million compared to cash used of $7.3 million in the first quarter of 2024; andLeverage ratio decreased to 2.53 times compared to 2.61 times at December 31, 2024, due primarily to lower debt as at March 31, 2025.(1)

Working Capital Management and Cost Controls Generate Strong Fourth Quarter Cash Flows as Weaker Market Conditions Drive Quarterly and Annual Earnings Decline

TORONTO, March 4, 2025 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced its 2024 fourth quarter and annual results. All monetary amounts are in Canadian dollars unless otherwise noted.

Selected Highlights for the Fourth Quarter and Full Year

TSX Symbol:  WJX

TORONTO, January 15, 2025 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced the repayment in full of the $57.0 million in principal amount owed under its 6.00% senior unsecured debentures due January 15, 2025, along with accrued interest up to but excluding the maturity date. Wajax has deposited an amount sufficient for such repayment with Computershare Trust Company of Canada, as trustee (the "Trustee").

TSX Symbol:  WJX

TORONTO, November 11, 2024  Wajax Corporation ("Wajax" or the "Corporation") today announced that Stuart Auld, Chief Financial Officer, will present at the 24th Annual Scotiabank Transportation and Industrials Conference on Thursday, November 14, 2024, at 11:10 a.m. ET.  The conference will be held at Scotiabank Centre, 40 King Street West, Toronto.

A webcast of the presentation will be available in the "Investors" section of Wajax's website at www.wajax.com on the "Events and Presentations" page. A replay of the presentation will be available on the same page of the website following the event.

MONTREAL, Oct. 3, 2024 /CNW/ - TotalEnergies Marketing Canada Inc. is delighted to highlight its strategic partnership with Wajax, Canada's most experienced, diversified supplier of industrial products, equipment and services.

"We are proud to extend our partnership with Wajax in Canada."

Thanks to this long-term global partnership, professionals in the industrial, forestry, construction, mining, transport and other sectors will have access to the full range of TotalEnergies lubricants to meet the needs of their various applications. With 120 branches across the country, Wajax ensures nationwide coverage and product availability.

TSX Symbol:  WJX

Stronger Equipment Sales Contribute to Inventory Reduction as ERP System Implementation Reaches Major Milestone

TORONTO, August 8, 2024 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced its 2024 second quarter results. All monetary amounts are in Canadian dollars unless otherwise noted.

Selected Highlights for the Second Quarter

Second quarter revenue of $568.3 million and adjusted basic earnings per share of $1.06, down from $586.2 million and $1.26, respectively, in the same quarter of the prior year;Second quarter gross profit margin of 20.9%, up from 19.9% in 2023, due to higher margins on engineered repair services ("ERS") sales, and a higher proportion of, and higher margins on, product support sales;Cash flows generated from operating activities of $35.8 million in the second quarter of 2024 compared with cash flows used in operating activities of $6.0 million in the same quarter of the prior year;Second quarter adjusted EBITDA margin of 9.6%, compared to 9.8% in 2023; andThe competitive new financing program introduced by Hitachi Construction Machinery Americas Inc. ("HCMA") effective March 1, 2024, as well as management's focus on reducing inventory levels, resulted in stronger equipment sales and lower inventory in the second quarter of 2024 as compared to the first quarter of 2024.(1)