Aerospace and Defense Growth
Aerospace and defense grew 14% with continuous improvement in production and easing supply chain issues.
Infrastructure Segment Leadership Change
Faisal Hamadi was named President of the Infrastructure Segment, bringing strong business experience, which is expected to drive growth and improvements.
Operational Cost Savings Initiatives
Actions to close plants and reduce workforce are expected to save $15 million annually by fiscal 2025, contributing to a $100 million cost savings target by fiscal 2027.
Improved Free Operating Cash Flow
Free operating cash flow increased to $57 million, up from $36 million in the prior year.