Hammond Power Solutions Provides Update on US Tariff Changes
September 15, 2025
Hammond Power Solutions Inc. (“HPS” or the “Company”) (TSX: HPS.A) has determined that the recently expanded U.S. tariffs on steel and aluminum derivative products apply to certain materials and components included in many of the Company’s products.
The Company expects these tariffs to have a relatively uniform impact across its industry and will work collaboratively with its customers and suppliers to manage and offset the effect of these additional costs. Although there may be short-term implications arising from these changes, at this time, the Company does not anticipate that the tariffs will have a material
impact on its business.
“While this change in trade policy brings complexity and cost to the industry, we have confidence in our adaptable team and in our strong relationships with our customers and suppliers to navigate these challenges effectively,” said Adrian Thomas, Chief Executive Officer of HPS. “We remain focused on executing our long-term strategy, which includes the continued growth of our market share in in the United States and select global markets.”
The Company will continue to monitor tariff-related developments closely. However, given the fluid nature of international trade dynamics, it does not intend to issue further press releases addressing the impact of tariffs, unless otherwise required by law.
More Information
View the complete press release from Hammond Power Solutions here
Related Story
Hammond Power Solutions Quarter 2 2025 Financial Results
Hammond Power Solutions Inc. (“HPS”), a leading manufacturer of dry-type transformers, power quality products and related magnetics, has recently announced its financial results for the second quarter 2025.
HIGHLIGHTS
- Record sales of $224 million in the quarter, a 13.8% increase vs quarter 2, 2024.
- Adjusted EBITDA of $33 million in the quarter, or 14.9% of sales.
- Gross margin was $68 million or 30.7% of sales.
- Net earnings of $13.4 million in the quarter, significantly impacted by share-based compensation.
- Adjusted earnings per share of $1.72. Earnings per share of $1.12.
- Due to record sales, backlog is lower by 8% vs the first quarter of 2025 but remains 9% higher vs the end of 2024.
