Atlas Engineered Products Announces Preliminary Q4 and Full Year 2021 Financial Results
Atlas Engineered Products is pleased to announce its preliminary financial results for the three months and and full year ended December 31, 2021.
The Company has continued to carry the strong momentum generated in the first nine months of 2021 into the fourth quarter of 2021. The Company expects to recognize revenues of approximately $13.9 million for the three months ended December 31, 2021, expected to represent a 25% increase from the three months ended December 31, 2020 during which the Company reported revenues of $11.1 million. It should be noted that the Company’s fourth quarter is traditionally a slower quarter due to weather conditions in most of the Company’s markets. For the fiscal year ended December 31, 2021, the Company expects to recognize revenues of just under $55.0 million compared to revenues of $35.7 million reported by the Company for the year ended December 31, 2020, expected to represent an increase of $19.3 million or 54%.
These results are still pending external audit completion and may change by the time final fiscal 2021 results are reported and filed. Full audited 2021 year end financial results are expected to be released mid-April.
“The Company continues to manage through the construction industry challenges of volatile raw material prices, labor tightness and strong product demand,” states CEO Hadi Abassi. “I am very proud of our incredibly hard working AEP team and look forward to another year of strong results in 2022. We will continue to focus on organic revenue growth, improving operating efficiencies and increasing automation all while maintaining an eye towards further accretive acquisitions.”
About Atlas Engineered Products Ltd.
AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada’s truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators.
Source: Atlas Engineered Products Ltd.