Strong Revenue Growth
Second quarter sales reached $502 million, representing a 14.3% increase compared to the same quarter last year, with organic daily sales growth of 3.3%.
Improved EBITDA Margins
Consolidated adjusted EBITDA margin increased to 9.7% in the second quarter, up from 9% in the first quarter.
Cash Flow and Debt Management
The company generated $33 million in cash flow from operations, ended the quarter with no outstanding borrowings under the revolving credit facility, and increased cash and cash equivalents to $62 million.
Gexpro Services Performance
Gexpro Services achieved an EBITDA margin of 13.4% in the second quarter, representing an 80 basis point increase from the first quarter.
Lawson Sales Force Transformation
Lawson's average daily sales increased by 2.6%, with sequential expansion in EBITDA margins to 12.6% in the second quarter.