Record Quarterly Sales
Hammond Power Solutions reported record quarterly sales of $224 million, marking a 14% growth compared to Q2 2024. The U.S. market experienced its strongest growth, up more than 18% from the same quarter last year.
Gross Margin Performance
Despite cost headwinds, the company achieved a gross margin of 31% for the quarter, with continued strong customer and market activity.
Expansion and Capacity Increases
Two new facilities were constructed in Mexico, with expectations to ramp up production in the second half of the year. This is anticipated to benefit operating costs and increase capacity to around $1.1 billion in revenue.
External Recognitions
The company earned the Great Place to Work certification, including its Mexico facilities, and was honored by tED Magazine with the Best of the Best Marketing Awards.
Micron Brand Performance
The recently acquired Micron brand continued to perform well, with sales and margins slightly ahead of expectations.