Significant Sequential Sales and EBITDA Growth
Sales in Q2 increased by more than $40 million, up over 8% sequentially, and adjusted EBITDA rose by $30 million, more than 80% higher than the previous quarter.
Strong Performance in SAS Segment
SAS sales continued strong momentum, up 5% on an organic basis for the fifth consecutive quarter, with new long-term commitments driving incremental annual revenue in various categories.
Success in Cost Reduction Initiatives
Identified an additional $5 million in cost improvement opportunities, targeting $35 million to $40 million in cost reductions by year-end 2026, with $15 to $20 million realized in 2025.
Improved Cash Flow and Deleveraging
Second highest cash flow quarter since the merger and net debt reduced by more than $40 million, aiming to double free cash flow in 2025 compared to 2024.
Strategic Initiatives Driving Growth
New commercial leadership and strategic pricing initiatives expected to drive favorable results in the second half of 2025.