Strong Revenue and Earnings Performance
Revenue was up 7% year-over-year, exceeding $1.1 billion. Adjusted EPS was $0.85, $0.10 above the high end of the projected range. Adjusted EBITDA totaled $225 million.
Aerospace and Defense Growth
Total aerospace and defense revenue rose 21% year-over-year, reaching an all-time high of 70% of total revenue. Jet engine revenue grew 19% year-over-year.
Operational Excellence
Productivity gains achieved with higher uptime, improved first pass yield, and expanded manufacturing capabilities. Expanded powder atomization capacity by over 25%.
Increased Full Year Guidance
Adjusted EBITDA for 2025 now forecast between $848 million and $858 million, a $28 million increase at the midpoint. Adjusted free cash flow now forecast between $330 million and $370 million, a $40 million increase at the midpoint.
Defense Segment Outperformance
Defense revenue increased 51% year-over-year and 36% sequentially. Record performance across naval nuclear, rotary craft, missile, and armored vehicle programs.