Hammond Power (HPS-A) was up 14% on the back of its Q4 results, which beat big on revenue thanks to ~24% growth north and south of the border…

… and beat bigger on EPS, with only modest margin compression linked to cost inflation and unabsorbed capacity. Both should be short-lived, with costs passed on and the backlog at record levels (up 122% Y/Y)…

… driven by increased data center activity. Combined with its recent $365M acquisition, the street now has multiple years of revenue visibility - prompting positive revisions and multiple compression.