Wajax Corporation 2016 Q3 Earnings Report

Wajax Corporation reported Q3 2016 earnings with consolidated revenue of $286.6 million and net earnings of $7.6 million, or $0.38 per share. The company's Equipment segment showed strength with 7% higher revenue, while Power Systems and Industrial Components faced headwinds from reduced energy sector activity in western Canada. Management highlighted cost reduction initiatives and a restructuring program on track for completion by year-end 2016, with $8 million in expected savings for the year and $15 million anticipated in 2017.