Reports Q2 revenue $2.19B, consensus $2.15B. “Sales improved four percent sequentially, with an increase in capital equipment revenues more than offsetting a decline in spare part and product sales,” said Clay Williams, Chairman and CEO. “Macroeconomic uncertainty, the rapid unwinding of OPEC+ production quotas, and conflict in the Middle East led to greater caution among our customers, deferred orders, and lower year-over-year revenues. These market headwinds and a shift in sales mix pressured margins during the quarter.
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