Strong March Sales Recovery
After a slow start in January and February, March sales increased by 10% compared to January, leading to a quarter rate 5% above initial guidance.
Cost Savings Initiative
Implemented a $10 million cost savings program aimed at efficiency improvements and reducing overhead, expected to reach full annual savings by early 2026.
Growth in Environmental and Infrastructure
Environmental lining systems and FluoroSorb projects saw significant growth, with environmental lining applications up 19% year-over-year.
Positive Outlook for Q2
Sales expected to increase by 5% to 10% in Q2, with operating income projected to rise by around 20% sequentially.
Strong Financial Position
The company maintains a solid balance sheet with nearly $700 million in liquidity and a net leverage ratio of 1.7x EBITDA.