Rising Interest Rates Pressure AEP Margins

Atlas Engineered Products (AEP) had revenue of $14.99 million for the fourth quarter of 2022, up eight per cent compared to revenue of $13.9 million for the fourth quarter of 2021. Gross margin for the quarter decreased to 34 per cent compared to 37 per cent for the prior-year period. Gross margin decreased due to rising interest rates which have put downward pressure on the housing market creating a more competitive market.