Strong Revenue Growth
Overall sales increased by nearly 25%, with a significant contribution from the recent Nissens acquisition. Excluding Nissens, sales still grew by nearly 5%.
Record Sales in Vehicle and Temperature Control Segments
Vehicle Control sales increased by 3.7%, and Temperature Control sales grew by 24% year-over-year, setting all-time records for first quarter sales.
Significant EBITDA Improvement
The company reported a $20 million increase in EBITDA and a 350 basis points lift in EBITDA margin.
Successful Integration of Nissens
Nissens contributed $66.2 million in net sales and $11.5 million in adjusted EBITDA, with a 17.3% EBITDA margin, exceeding expectations.
Geographic Diversification
The U.S. now represents about 70% of sales, down from 90%, due to Nissens and Engineered Solutions segments, providing better global market exposure.