Atlas Engineered Products Announces Preliminary Q4 and Full Year 2022 Financial Results
Atlas Engineered Products (“AEP” or the “Company”) is pleased to announce its preliminary financial results for the three months and and full year ended December 31, 2022.
Preliminary Financial Highlights for Q4 & Year End 2022
The Company has continued to carry the strong momentum generated in the first nine months into the fourth quarter of 2022. The Company expects to recognize revenues of approximately $14.9 million for the three months ended December 31, 2022, expected to represent a 7% increase from the three months ended December 31, 2021 during which the Company reported revenues of just under $13.9 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, 2022, the Company expects to recognize revenues of approximately $61.8 million compared to revenues of just under $55 million reported by the Company for the year ended December 31, 2021, expected to represent an increase of $6.8 million or 12%.
These results are still pending external audit completion and may change by the time final fiscal 2022 results are reported and filed. Full audited 2022 year end financial results are expected to be released before the end of April 2023.
TSX Venture 50
AEP is also pleased to announce it has been named 2nd top performing Company on the TSX Venture over the last year in the Diversified Industries sector. Visit money.tmx.com/en/venture50 to view our video and the entire list of top performers. “AEP has worked hard over the last few years and being a top performer on the TSX Venture 50 helps validate all that hard work and we can’t wait to deliver on our future performance goals” says CEO & President Hadi Abassi.
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.