Increased Net Income
Net income for the first quarter of 2025 was $126 million or $13.26 per share, compared to $108 million or $11.23 per share for the first quarter of 2024.
Growth in Specialty Materials Segment
Specialty Materials sales were $54 million for Q1 2025, compared to $17 million for Q1 2024. The operating profit was $23 million for Q1 2025, compared to an operating loss of $5 million for Q1 2024.
Strategic Capital Investment
Planned capital investment of up to $100 million at the Ampac facility in Cedar City, Utah, to increase production capacity by more than 50%.
Improved Debt Ratio
Net debt to EBITDA ratio improved to 1.1 from 1.9 at the end of Q1 2024.
Shareholder Returns
Returned $83 million to shareholders through share repurchases of $57 million and dividends of $26 million.