Wajax saw revenue declines in its industrial parts segment and overall in the final quarter of 2025, company officials said Monday.
The Canadian industrial supply and equipment giant reported industrial parts revenue of $130.6 million Canadian in its fourth quarter, a dip of 2.3% compared to the final quarter of 2024. Revenue in its equipment sales, equipment rental and product support segments were also down year-over-year; engineered repair services, the lone division to see a quarterly increase, was up by 11.1%.
Overall, Wajax posted $560 million Canadian in Q4 revenue, a 1% decline compared to the same period of 2024, but net earnings jumped from $1 million in the previous Q4 to $12.1 million between October and December.
Wajax leaders also highlighted a fourth-quarter gross profit margin of 18%, an increase of 100 basis points. Officials said the company “disciplined cost control, inventory optimization and margin improvement” during the year in order to improve profitability, cash flow and leverage.
“These results reflect disciplined execution and a stronger, more resilient balance sheet as we enter 2026," said Iggy Domagalski, who was succeeded Tuesday as Wajax president and CEO by former Sonepar Canada President George McClean.
For the full year, Wajax reported $2.15 billion Canadian in revenue — an increase of 2.3% from 2024 — but annual industrial parts revenue slipped by 3.4% to $552.7 million. The company anticipates strong demand in its mining and energy markets but “mixed” conditions in other sectors amid “continued macroeconomic softness and uncertainty related to Canada-U.S. tariff and trade dynamics.”
Wajax ranked at no. 27 on ID’s latest Big 50.
