Improved Gross Profit Margin
Gross profit margin improved to 16.2% in Q2 2025 from 13.8% in Q2 2024, driven by a higher percentage of body deliveries compared to chassis volumes.
Debt Reduction
The company reduced its debt by $20 million, bringing the balance down to $55 million, with a further reduction to $50 million post-quarter.
Increased Cash Balance
Cash balance increased by $4.4 million sequentially to $31.8 million, marking a $7.5 million increase since the end of last year.
Successful Military Contract
The contract with the Canadian military was fully secured, indicating future business potential.
Continued Shareholder Returns
The company continues to prioritize returning capital to shareholders through dividends and share repurchases, with $20 million remaining on the current buyback plan.