Strong Financial Performance
Adjusted EBITDA increased by 10% year-over-year to $66.8 million, and free cash flow doubled year-to-date compared to last year. Consolidated sales increased by over 5% on an organic basis, and 3% on a reported basis.
Operational Excellence
The SAS segment showed solid improvement, with adjusted EBITDA up 17% and margins reaching 15.3%, up 200 basis points year-over-year. FAM segment sales increased by more than $8 million or over 4% from last year.
Strategic Initiatives Success
Implementation of strategic priorities, including commercial execution, balance sheet strengthening, and portfolio review, resulted in significant operational improvements and a reduction of net leverage to 4.2x.
Safety and Efficiency Improvements
Safety programs reduced injury rates by more than 15%, and operational efficiencies reduced scrap byproducts, changeover times, and increased machine uptimes.
Positive Pricing Strategy
A structured pricing process ensured a positive price versus input cost relationship, contributing to favorable financial outcomes.