Strong Revenue Growth and Acquisition Contribution
Q1 sales of $2.38B vs $1.41B year-ago (≈+69%), driven largely by the Dali/Dowling acquisition which contributed ~$983M of gross sales for Feb–Mar (transaction closed Feb 3).
Adjusted EBITDA and Margin Improvement
Adjusted EBITDA of $308.5M (13% margin) vs $177.7M and 12.6% prior year — an increase of ~74% in adjusted EBITDA and modest margin expansion, supported by favorable mix and FX.
Adjusted EPS Increase
Adjusted earnings per share of $0.34 vs $0.22 in prior year (≈+55%) reflecting improved operating performance on an adjusted basis despite acquisition-related items.
Synergy Realization Progress
Achieved $35M of run-rate savings to date (including $5M recognized in Q1) with a year-end target of >$100M run-rate, $180M by end of year two, and $300M by end of year three — integration off to a fast start.
Raised Full-Year Guidance
Updated 2026 guidance raised at the top end: sales target approximately $10.3B–$10.8B and adjusted EBITDA $1.3B–$1.425B; adjusted free cash flow targeted at $235M–$325M, reflecting Q1 strength while acknowledging macro risks.
Commercial Wins and Portfolio Optimization
New program awards and contract extensions (e.g., PTUs/RDMs for a Cherry derivative launching later this year, a Brazil truck platform with >$750M lifetime revenue, six OEM replacement/new business wins) plus $21M net proceeds from a non-core cylinder liner sale.
Geographic and Product Strengths
Notable strength on GM light‑duty trucks, Ram heavy‑duty (favorable y/y), and BMW/Volkswagen CUV platforms in North America; metal forming/powder metallurgy business seeing wins from onshoring/reshoring trends.