Revenue and EBITDA Growth
Revenues of $2 billion increased 4% year-over-year and EBITDA of $295 million increased 2% compared to the prior year period.
Connectivity Solutions Performance
Third quarter revenue was $253 million, an increase of 8% year-over-year. EBITDA increased 36% year-over-year to $42 million with an EBITDA margin of 17%.
Precision Agriculture Growth
Third quarter revenue was $257 million, an increase of 11% year-over-year. EBITDA increased 28% year-over-year with an EBITDA margin of 12%.
Cost Reduction Achievements
The cost reduction program achieved $169 million in annual savings compared to 2023, representing 68% of the target to reach $250 million per year by 2027.
Noncore Asset Divestments
Agreements have generated net proceeds of approximately $83 million from noncore asset divestments, exceeding the full year target of at least $75 million.