Strong Revenue and Margin Growth
Consolidated net sales for the quarter grew 8% year-over-year to $508 million. Adjusted operating margin for Q1 2025 was 17%, expanding by 310 basis points compared to the same period last year. Adjusted diluted EPS increased by 54% to $2.02.
Light Duty Segment Success
Light duty segment's net sales increased by 14% year-over-year, with operating margin increasing to 19.9%, a 380 basis point increase compared to the same period last year.
Effective Debt Management
The company repaid $20 million of debt, and net leverage ratio was reduced to 1.01x adjusted EBITDA. Total liquidity increased to $660 million.
Product Development Driving Growth
New product development contributed significantly to growth, driving high single-digit POS growth in light duty.