Q4 2024 Wajax Corp Earnings Call Transcript

Mar 4, 2025 / 07:00 PM GMT

Release Date Price: $11.99 (-11.55%)

Transcript

Key Points

Positve

Wajax Corp (WJXFF) reported a revenue increase of $23.3 million, or 4.3%, in Q4 2024, primarily driven by higher mining equipment sales in Western Canada.
Selling and administrative expenses as a percentage of revenue decreased to 14.1% in Q4 2024 from 16.1% in Q4 2023, due to cost-saving initiatives.
The company successfully reduced its inventory by $76.3 million from peak levels at March 31, 2024, demonstrating effective inventory management.
Cash flows generated from operating activities increased by $27.4 million compared to the same quarter of the prior year, mainly due to decreased inventory and increased accounts payable.
Wajax Corp (WJXFF) maintained a strong focus on safety, with a TRIF rate of 0.94%, a 7% decrease from Q4 2023.

Negative

Gross profit margin decreased by 420 basis points to 17.1% in Q4 2024, primarily due to lower margins on equipment, ERS, and rental revenue.
Adjusted EBITDA decreased by 25.6% from Q4 2023, primarily due to lower gross profit margins.
Adjusted net earnings per share decreased by 58.2% from Q4 2023, reflecting significant margin pressures.
The company's leverage ratio remains outside the target range, at 2.61 times, due to higher debt levels and weaker market conditions.
ERS sales decreased by 24% due to lower sales in all regions, particularly in Western Canada, indicating challenges in this segment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WJX.TO - Wajax Corp
Q4 2024 Wajax Corp Earnings Call
Mar 04, 2025 / 07:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for attending Ajax Corporation's 2024 4th quarter and year-end financial results webcast. On today's webcast will be Mr. Iggy Domagalski, President and Chief Executive Officer, Mr. Stuart Auld, outgoing Chief Financial Officer, and Ms. Tanya Casadino, incoming Chief Financial Officer.

Please be advised that this webcast is being recorded. Please note that this webcast contains forward-looking statements. Actual future results may differ from expected results. I will now turn the call over to Tanya Casadino.

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Unidentified_2 [2]
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Thank you, operator, and

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