Strong Aftermarket Parts Demand
Aftermarket parts revenue reached a record $181.8 million, contributing to an overall gross margin increase to 45.9%, up 150 basis points from the previous year.
Significant Bookings Increase
Bookings in Q2 increased by 7% to $269 million, led by strong capital performance and stable demand for aftermarket parts.
Flow Control Segment Growth
Flow Control segment revenue increased by 4% to $96 million, with an adjusted EBITDA margin of 28.9%.
Material Handling Segment Performance
Bookings in the Material Handling segment grew by 16% to $71 million, driven by the bulk material handling product line.
Improved Cash Flow and Debt Reduction
Operating cash flow increased by 44% to $40.5 million and net debt decreased by over $100 million compared to the previous year.