Revenue Growth in Sequential Terms
Globally, revenues improved 5% sequentially indicating modest positive momentum as they move through the year. In particular, sales of higher-value Class 4 and 5 internal combustion engine trucks grew.
Strong Cash Flow Management
The company generated approximately $30 million in operating cash in Q2, improving versus the previous quarter and prior year, reflecting strong working capital management.
Credit Facility Renewal
Successfully renewed $300 million revolving credit facility, bringing lower borrowing margins and greater covenant flexibility.
Launch of Automated Solutions
Launch of automated solutions at the ProMat show, demonstrating a horizontal mover that will be going into production soon.