Cost Control and EBITDA Margin Improvement
Despite a 12% decrease in sales, the company achieved an adjusted EBITDA of $70.9 million, with margins not seen in recent years due to diligent cost control efforts.
Safety Achievements
The company reported a 29% increase in leading safety activities, leading to a 23% decline in recordable injuries and a 72% reduction in serious safety incidents.
Strategic Business Simplification
The company continued portfolio simplification by selling the Railroad Structures business and closing the phthalic anhydride plant, which had been margin dilutive.
Strong Performance in Utility and Industrial Products
Volumes increased by 6% year-over-year, with the company expanding its product offering by adding Douglas fir species.
Positive Forecast for Catalyst Initiative
The Catalyst initiative is expected to deliver $80 million in ongoing benefits by 2028, with significant cost savings and process improvements already underway.