Photo credit: AtlasEngineeringProducts.com
NANAIMO – Atlas Engineered Products has posted three and nine month results representing 23 and 10 percent.
Atlas showed revenue of $20.3 million in the third quarter, a 23 percent increase period over period, and $45 million in the first nine months ending September 30, a 10 percent hike over the same period of the previous year. That included an 11 percent increase in board footage manufacturing of trusses.
They also acquired Penn-Truss Manufacturing Inc. of Saskatchewan, and the company has made a deposit on automation equipment for a new facility in Clinton, Ontario.
“I remain deeply impressed by the dedication and achievements of the AEP team,” states Atlas President, CEO and founder Hadi Abassi. “The third quarter marked a period of strong performance, with revenue increasing by 23% over the same period last year and truss board footage up 11% for the year to date. While we continued to navigate a competitive market environment, our sales team’s assertive efforts resulted in order generation and sustained high production levels.
“The successful acquisition of Penn-Truss has expanded our national footprint into Saskatchewan and positions us well for further growth. We are encouraged by record quotation activity, which has increased by 36%, or $55.5 million, year-to-date as of September 30 compared to prior period, providing us with visibility and confidence for the remainder of 2025 and into 2026.”
On June 24, Atlas acquired 100% of the issued and outstanding shares in Penn-Truss in Saltcoats, Saskatchewan for $3.8 million in cash plus a working capital adjustment to be determined. This acquisition aligned with their strategic acquisition plan and expand its geographical footprint with its first location in Saskatchewan.
Revenue for the three and nine months ended September 30, 2025 was $20,331,585 and $44,995,448 compared to revenue of $16,550,911 and $40,759,108 for the three and nine months ended September 30, 2024.
Revenue has increased due to acquisitive growth, organic growth related to walls from the beginning of the year and the increase in roof and floor trusses. Atlas has seen an increase in manufacturing metrics, but due to the competitive market, sales prices are still lower than the same period in 2024.
Gross profit for the three and nine months ended September 30, 2025 was $4,508,430 and $8,574,964 compared to $4,084,663 and $9,954,708 for the three and nine months ended September 30, 2024. Net income after taxes was $1,865,090 and $310,733 for the three and nine months ended September 30, 2025 compared to net income after taxes of $914,458 and $626,600 for the three and nine months ended September 30, 2024.
Atlas believes that the future of the industry will be defined by highly automated manufacturing facilities capable of producing greater volumes at reduced costs. Construction of the new automation facility in Ontario continues to progress on time and will be ready for the automation equipment’s anticipated arrival in the second quarter of 2026.
The company put initial deposits on the equipment required, which includes an automated saw that will feed into the robotic system. The equipment is anticipated to arrive in the second quarter of 2026 and be installed and operational for the third quarter of 2026.
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