Increased Sales and EBITDA Guidance
Sales guidance increased to $2.4 billion to $2.6 billion and adjusted EBITDA guidance raised by $10 million to a range of $215 million to $235 million.
Improved Gross Margin and Operating Income
Second quarter gross margin improved to 15.4% from 13.3% last year, and operating income increased by 41.5% to $46.7 million.
Strong Cash Flow and Liquidity Position
No outstanding borrowings on $150 million ABL at the end of the quarter, and improved free cash flow adjusted for changes in working capital.
Sustainability Achievements
Progress in sustainability goals such as water and waste targets and a forthcoming update on a refreshed global sustainability strategy.