05:38 PM EDT, 03/19/2026 (MT Newswires) -- Hammond Power Solutions (HPS-A.TO) after the market close Thursday reported a 35% drop in fourth-quarter earnings despite a surge in revenues.

Net earnings fell to $15.2 million, or $1.28 per share, in three months ended on Dec. 31, 2025, down from $23.7 million, or $1.99. Quarterly adjusted earnings per share, excluding most one-time item, rose $1.98 from $1.90 in the same period in 2024. It exceeded FactSet estimates of $1.64.

The company recorded a 22% year-over-year jump in fourth-quarter sales to $254.1 million. It also reported annual sales of $898.3 million, up 14% over 2024

"Growth was driven by continued strength in the U.S., particularly in private label and custom-engineered solutions supporting data centre expansion, infrastructure investment and industrial electrification. Custom and higher-value solutions continued to outpace standard products, reflecting sustained demand for resilient power systems," chief executive Adrian Thomas said.

Shares of the company closed down $11.32 to $173.84 on Toronto Stock Exchange.