Strong Liquidity Position
Total available liquidity of $236.1M at quarter-end, including $186.1M in cash and $50M available under the revolving credit facility, supporting capital allocation and operations.
Share Repurchases Executed
Completed $25M of share repurchases during the quarter, demonstrating commitment to returning capital to shareholders.
Product Innovation and Infrastructure Order Funnel
Introduced two new road safety products (AlphaGuard channeling device and Road Runner truck-mounted attenuator) and reported a strong Road Zipper sales funnel; infrastructure revenue excluding the prior-year Road Zipper project grew 6% year-over-year.
MENA Project Execution On Schedule
Large MENA irrigation project deliveries are proceeding on schedule with supply chains operating without disruption; company expects delivery through Q3 and Q4 and stated project margins are comparable to prior-year international project margins.
International Long-Term Opportunity (Brazil & Food Security Markets)
Management remains optimistic about long-term secular growth in Brazil and other international markets focused on food security and water resource management despite near-term credit and financing constraints; Brazil interest-rate outlook improved slightly with a recent 0.25% Selic reduction.
Operational Investments Progressing
Project Fortify investments progressing: tube mill is online in Nebraska and the new galvanizing facility remains on track to come online early fiscal 2027 to enhance throughput and automation.