Wajax management commentary attributes Q3 2026 net earnings decline to lower sales, weaker margins and restructuring costs
Bitget2026/11/02 23:20- Wajax management commentary attributed third-quarter 2026 net earnings of CAD 12 million to lower sales, weaker service margins and restructuring costs.
- Revenue fell 1.1% to CAD 477.8 million, primarily reflecting no comparable large mining shovel delivery versus the prior-year quarter.
- Lower sales volume and gross margins reduced adjusted EBITDA margin to 8.1% from 9.3%.
- Operating activities consumed CAD 23.1 million as inventory and receivables increased, while accounts payable declined.
- Backlog rose 18.2% year-over-year to CAD 598.6 million; management expects mixed demand and variable project timing to persist.
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