Record Net Income for First Half of 2025
Net income for the first half of 2025 was a record $237 million or $25.11 per share, compared to $219 million or $22.87 per share for the first half of 2024.
Specialty Materials Segment Growth
Specialty Materials sales for the second quarter of 2025 were $42 million compared to $38 million for the same period in 2024. Operating profit for the second quarter was $11 million, up from $5 million in 2024. For the first half of 2025, sales were $96 million compared to $55 million in 2024, with operating profit at $34 million compared to slightly above breakeven in 2024.
Improved Net Debt-to-EBITDA Ratio
The company's net debt-to-EBITDA ratio improved to 1.0 as of June 30, 2025, from 1.2x at the end of 2024.
Shareholder Returns
The company returned $129 million to shareholders through share repurchases of $77 million and dividends of $52 million in the first half of 2025.