Accelerating Sales Momentum
Organic sales grew 7% in Q2, building on a 6% growth in Q1. Preliminary July sales per workday increased approximately 10% year-over-year.
Record Data Center Sales
Total data center sales surpassed $1 billion in Q2, up 65% year-over-year, driven by strong performance in the CSS segment.
CSS Segment Growth
CSS delivered 17% organic growth, with notable strength in data center solutions growing over 60% year-over-year.
Improved Profitability
Adjusted EBITDA margin was up 90 basis points sequentially due to strong operating cost leverage and stable gross margin.
Strong Liquidity and Capital Management
Redemption of preferred stock in June improved earnings and cash flow run rates, with no significant debt maturities until 2028.
Raised Full Year Outlook
Full year outlook for organic sales growth increased based on positive trajectory.
Improved Outlook for EES and Data Centers
EES sales up 6%, with improved performance in OEM and Construction. Data center growth outlook increased from 20% to 40%.
Security Sales Growth
Security sales saw a positive driver with double-digit growth.