Strong Adjusted EBITDA and Earnings Growth
Adjusted EBITDA of $33.7 million increased by $6.1 million or 22.1% over the second quarter of 2024. Adjusted earnings per share were strong at $0.88, representing a 44.3% increase over the second quarter of 2024.
Successful TerraSource Acquisition
Completion of the TerraSource acquisition, which is expected to be accretive from day 1 with aftermarket part sales representing approximately 63% of total revenue and 80% of gross margin.
Improved Financial Metrics
Return on invested capital improved by 61.1% since the second quarter of 2024. Adjusted EBITDA margin of 10.2% increased by 220 basis points.
Positive Free Cash Flow
Another quarter of positive free cash flow driven by increased profitability and continued focus on working capital management.
Strong Performance in Materials Solutions
Materials Solutions sales increased slightly to $125.7 million, despite being challenged by the impact of high interest rates. Adjusted EBITDA increased by 39.2% to $14.2 million.