Wajax 3Q Industrial Parts Revenue Jumps 19% - Modern Distribution Management

Log In

Wajax 3Q Industrial Parts Revenue Jumps 19%

Companywide, Wajax said 2023 third quarter revenue was $369.13 million (USD), up 8.3% over the same period in 2022.

On Nov. 9, Mississauga, Ontario-based Wajax Corp. announced its 2023 third quarter financial results, which showed continued impressive growth for in its Industrial Parts business unit.

The Industrial Parts segment reported $116.5 million (USD) in revenue for the latest quarter, a 19.4% increase over the $97.6 million (USD) reported in 3Q 2022. For the first nine months of 2023, the unit reported $339.7 million (USD) in revenue, a 17.9% increase versus the $288.2 million (USD) posted during the first three quarters of 2022.

Companywide, 3Q revenue was $369.1 million (USD), up 8.3% over 3Q 2022. Third quarter adjusted EBITDA was $36.2 million (USD), up 28% over 2022. In addition, 3Q adjusted net earnings were $15.0 million, up 24.4% over 2022.

In September, Wajax announced it had acquired Sault Ste. Marie, Ontario-based Beta Fluid Power Ltd. and Beta Industrial Ltd. Two months prior, the company announced that its wholly-owned subsidiary, Tundra Process Solutions Ltd., had acquired custom electrical and instrumentation equipment producer Polyphase Engineered Controls Ltd.

On MDM’s 2023 Top Distributors Lists, Wajax ranks No. 41 among industrial distributors.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.