Hammond Power Solutions Inc. Overview
Pro stress-test →Hammond Power Solutions Inc. is a North American leader for the design and manufacture of dry-type custom electrical engineered magnetics, electrical dry-type and cast resin transformers. The company serves renewable energy, commercial infrastructure, industrial, off-shore drilling, mining and construction, petro-chemical, power grid infrastructure, and EV charging industries. With presence across Canada, the US, Mexico, and India, HPS is strategically positioned to capitalize on grid modernization and energy transition trends.
Strategic Profile
Pro stress-test →In 2024, Hammond Power Solutions's revenue was 788.34 million, an increase of 11.02% compared to the previous year's 710.06 million. Earnings were 71.53 million, an increase of 12.83%. The company benefits from secular tailwinds in renewable energy infrastructure and power grid upgrades, with a focus on custom engineered solutions for specialized applications.
Competitive Landscape
Pro stress-test →Hammond Power Solutions competes in a consolidating electrical transformer market dominated by larger global players including Eaton, ABB, and Siemens. HPS differentiates through custom engineered solutions, geographic presence, and specialized product offerings for niche segments like renewable energy and offshore applications.
Industry Context
Hammond Power Solutions Inc. operates in Electrical Equipment Manufacturing - Transformers and Power Quality Products.
Key facts
Founded: 1917 · Headquarters: Guelph, Canada · Employees: 2,120 · Revenue: $788.34M CAD (2024) · Market cap: $2.34B CAD