Strong EBITDA and Earnings Growth
Adjusted EBITDA of $33.7 million increased by 22.1% over the second quarter of 2024, with an adjusted EBITDA margin increase of 220 basis points to 10.2%. Adjusted earnings per share rose 44.3% to $0.88.
Successful TerraSource Acquisition
The acquisition of TerraSource was completed, expected to be accretive from day 1, with aftermarket part sales representing 63% of total revenue and 80% of gross margin.
Improved Return on Invested Capital
Return on invested capital improved 61.1% since the second quarter of 2024, reaching 11.6%.
Positive Free Cash Flow
The company reported another quarter of positive free cash flow driven by increased profitability and strong working capital management.
Revenue Growth in Materials Solutions
Materials Solutions equipment sales increased by 4.9%, with a 39.2% increase in adjusted EBITDA to $14.2 million.