Strong Second Quarter Performance
Sales in the quarter were $212 million, exceeding expectations, with an adjusted EBITDA margin of 18.6%. The company generated near-record cash from operations of $37 million and reduced debt by $67 million from the previous year.
Successful Share Repurchase Program
Initiated share repurchase authorization by repurchasing 200,000 shares at an average price of $32 per share.
Positive Outlook for 2025
The company expects year-over-year growth every month for the rest of the year, with a strong start in July, and anticipates third-quarter sales to be in the range of $208 million to $215 million.
Strategic Divestiture of Custom Fluidpower
Announced the sale of Custom Fluidpower for AUD 83 million (~$54 million), improving margin rates within the Hydraulics segment and at a consolidated Helios level.
Innovative Product Launches
New products are being launched at a faster pace, providing incremental sales opportunities without cannibalizing existing sales.