Record Industrial Equipment Division Growth
Industrial Equipment division net sales reached $240.7 million, marking a 17.6% organic growth compared to the second quarter of 2024. This growth was driven by strong sales across the division, including vacuum trucks and snow removal equipment.
Significant Debt Reduction
Total debt was reduced to $213.1 million, with debt net of cash at $11.3 million, reflecting an improvement of 93.5% compared to the second quarter of 2024.
Improved Operating Income and Net Income
Operating income for Q2 2025 was $47.1 million, with an increase of 83 basis points. Net income was $31.1 million, a nearly 10% increase driven by stronger operating results.
Positive Sequential Improvement in Vegetation Management
Despite a year-over-year decline, Vegetation Management division saw an 8.8% sequential improvement in sales, with order bookings improving for the fifth consecutive quarter.