The 2020 Mid-Year Economic Update_long

Wajax Sales Down 4.3% in 1Q

Profit decreased 14.9 percent in the first quarter.

Canadian distributor Wajax Corp. (TRX: WJX), reported sales for the first quarter of $317.2 million, a 4.3 percent decrease year-over-year. Profit decreased 14.9 percent to $5.7 million.

"As expected, weakness in oil and other commodity prices had a negative effect on our customers in the mining, oil and gas and oil sands markets in western Canada, resulting in lower first quarter revenue and earnings," said Mark Foote, president and CEO. "The impact was most significant in the Equipment segment, which experienced a 17 percent reduction in parts and service revenues as oil sands operators and miners idled portions of their equipment fleets. Conversely, operating results in central Canada improved. This was particularly evident for the Equipment and Industrial Components segments where sales in those regions increased 40 percent and 12 percent, respectively."

About the Author
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.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 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


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts 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
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

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