Strong Top Line Growth
The company posted growth of nearly 27% with the legacy business up 3.5% despite challenging comps. Year-to-date growth is about 26%, or 4% excluding the Nissens acquisition.
Increased EBITDA and Profitability
Adjusted EBITDA increased by $20 million, up 190 basis points to 12% of net sales, with contributions from various segments, including Nissens.
Nissens Acquisition Success
Nissens added $90 million in revenue and is exceeding expectations, showing mid- to high-single-digit growth and an 18% EBITDA margin.
North American Aftermarket Strength
Vehicle Control sales were up nearly 7% in the quarter, and Temperature Control sales increased 5.5% over last year.
New Distribution Center
The official opening of a new 575,000 square foot distribution center in Shawnee, Kansas, will enhance capacity and efficiency.