Record Sales Achieved
Sales reached a record $454 million, a 4.8% increase compared to $433 million during the same period last year, driven by higher volumes and increased pricing.
Strong Share Repurchase Program
The company accelerated its share repurchase program, buying back $20 million of stock in the second quarter, totaling $50 million since the program's inception.
Successful Operational Transition
The transition of distribution from Cummins was completed, with full operational separation expected in the third quarter, enhancing supply chain control.
Positive Adjusted Earnings Growth
Adjusted earnings per share increased to $0.75 from $0.71 in the prior year, with adjusted free cash flow reaching $36 million.
Increased Revenue Guidance
The company raised its revenue expectations for 2025, anticipating growth between 1% to 4%, with an adjusted EBITDA margin expected between 19.25% to 20%.